11:18:59 AM | 29/11/2007
The Tokyo-based SBI Holdings Inc and Vietnam's IT giant, the Corporation for Financing and Promoting Technology (FPT), jointly launched an investment fund November 27 in Tokyo, aiming at the fast-growing economy of Vietnam.
The Vietnam-Japan Investment Fund, the first of its kind jointly set up by a Japanese and Vietnamese firm, has an initial capital of US$100 million, FPT said.
The fund, managed by a fund management joint stock company, FPT Capital, will be involved in the privatization of state-owned enterprises, especially those in finance and banking sector.
“FPT will benefit from SBI Holding's expertise in fund management, financial services and IT investments, and will access Japanese capital market via SBI,” said FPT general director Truong Gia Binh.
The fund will increase the investment capital soon, Binh said.
The Vietnam-Japan fund will help pave the way for Vietnamese businesses to further penetrate into the Japanese market, said Yoshitaka Kital, general director of SBI Holdings Inc. (ICT News, VNA)
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