Japan’s Sumitomo Mitsui Banking Corporation (SMBC) and the Amata Industrial Park on October 3 signed a memorandum of understanding (MOU) to jointly support Japanese companies in Vietnam.
Under the deal, the two sides will cooperate in providing information, financial services, industrial land, and other auxiliary services for factory management for Japanese companies who want to set up shops in Vietnam.
Isao Aramaki, general manager of SMBC’s Ho Chi Minh City Branch said the two sides would get more benefits from this deal as the bank would be able to introduce more Japanese investors into the Amata IP.
SMBC will open office in the industrial park in the near future to provide financial and banking services for Japanese investors as well as other investors there, he said.
“Amata IP is the leading place to attract Japanese investors… In addition, Amata Corporation PCL and SMBC already signed a similar MoU in April in Bangkok, Thailand. This is the main reason for this cooperation deal,” he said.
Huynh Ngoc Phien, president of Amata Vietnam Co., said that Amata IP has attracted 38 Japanese enterprises with total investment capital of $800 million, accounting for 40 per cent of the total investment in the IP.
“This makes our cooperation with SMBC a strategic cooperation which, we believe, will bolster the growth of both parties.”
SMBC opened one representative office in Ho Chi Minh City when it entered Vietnam in 1994 and another in Hanoi in 2004. It officially launched its branch, with paid-in capital of $15 million, in downtown Ho Chi Minh City on June 5.
SMBC is the third Japanese bank that has got approval from the central bank to set up a branch in Vietnam behind Mizuho Corporate Bank and Bank of Tokyo-Mitsubishi UFJ.
SGT, Youth
Vietnamese
