Mizuho Financial Group will set up an 252 million USD investment fund early this summer to invest in small- and medium-sized companies in Southeast Asia (Photo: japantimes.co.jp)Hanoi (VNA) – Japan’s MizuhoFinancial Group will set up a 252 million USD (28 billion JPY) investment fund early this summer to invest insmall- and medium-sized companies in Southeast Asia, Nikkei reported.
The fund is targeting businesses in countries such as Vietnam,Indonesia and Malaysia. Each selected SME will receive around 9 million USD (1billion JPY).
Through this fund, the Japanese company may also support joint ventures betweenJapan 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 severalbillion JPY.Other Japanese banks and European investors are also considering investing inthe fund.
Southeast Asia is one of the fastest-growing regions in the world, with itsrising population and growing middle-class, which are boosting the region’seconomic growth.
Mizuho is Japan’s second largest financial group and among the top 20 largestfinancial groups in the world, with diversified investments in banking, stocksand investment funds. It has branches in Hanoi and HCM City and is Vietcombank’s largest foreignshareholder, with 15 percent stake.-VNA
VNA
