Joint venture formed to welcome investment flows from Japan hinh anh 1General Director of the ISN-JUTEC Co. Nguyen Ha Hung (Photo: VNA)

Tokyo (VNA) - Japanese supplier of construction materials and equipment the JUTEC Corporation and Vietnam’s ISN Corporation have established a joint venture headquartered in Hanoi to welcome investment flows from Japan.

The ISN-JUTEC Co. joint venture has total charter capital of 20 billion VND (860,000 USD).

It will manage and operate 1,000 Japanese-standard apartments and aims to prepare for the wave of Japanese investment being relocated to Vietnam, General Director of the ISN-JUTEC Co. Nguyen Ha Hung told Vietnam News Agency correspondents in Japan on June 15.

It is predicted that demand for apartments among Japanese experts in Vietnam will increase sharply in the time to come.

It will also develop a network of retail outlets and distribution channels for new Japanese materials in Vietnam, contributing to the development of the local construction and real estate industries, Hung added.

Established in 1923, the JUTEC Corporation specialises in supplying high-quality equipment and construction materials to civil and residential projects in Japan. It also provides construction services and IT solutions.

The ISN Corporation, meanwhile, specialises in providing brokerage services and manages apartments and office space for rent. With headquarters in Hanoi and branches in HCM City, Hai Phong, and Tokyo, its customers are mainly foreign enterprises, organisations, and individuals, most of whom are Japanese./.