The fund is targeting businesses in countries such as Vietnam, Indonesia and Malaysia. Each selected SME will receive around 9 million USD (1 billion JPY).
Through this fund, the Japanese company may also support joint ventures between Japan and Southeast Asian nations, as well as send staff to the firms.
The group is likely to invest a total of more than 10 billion JPY, while other companies such as Dai-ichi Life Insurance will contribute several billion JPY. Other Japanese banks and European investors are also considering investing in the fund.
Southeast Asia is one of the fastest-growing regions in the world, with its rising population and growing middle-class, which are boosting the region’s economic growth.
Mizuho is Japan’s second largest financial group and among the top 20 largest financial groups in the world, with diversified investments in banking, stocks and investment funds. It has branches in Hanoi and HCM City and is Vietcombank’s largest foreign shareholder, with 15 percent stake.
Source: VNA