VN Dealbook: More Taiwanese firms flock into Vietnam, Kyoto Bank and BIDV agree on banking cooperation

Vietnam has is capturing interest of investors from other Asian territories, including Taiwan and Japan. Several Taiwanese investor visited Vietnam to learn about the investment opportunities. Meanwhile, the Bank for Investment and Development of Vietnam has signed a memorandum of understanding with Kyoto Bank to launch banking and investment consultancy services for Japanese companies in Vietnam.

More Taiwanese firms flock into Vietnam

An increasing number of Taiwanese companies have been keen on investing in the Vietnam’s fast-growing market,. This was disclosed in a recent meeting of 33 Taiwanese companies and their Vietnamese counterparts in the Ho Chi Minh City.

About 500-600 Taiwanese firms are already doing business in the city, most of which make products for export, according to John Tang, director of the Taiwan Trade Centre office in Ho Chi Minh City. In the future, these companies are expected to make products for both the Vietnamese and export markets.

In addition, a lot of retailers are also expected to enter Vietnam, as the country is considered as a really high growth market.

Tang added further that Taiwanese businesses planned to invest in a textile production chain in the Southeast Asian country in the coming time to benefit from the forthcoming Trans Pacific Partnership.

Meanwhile, the visiting Taiwanese companies, which operate in two major segments: daily commodities and industrial goods and equipment, hope that cooperation opportunities between Taiwanese and Vietnamese counterparts will materialise soon.

Kyoto Bank and BIDV agree on banking cooperation

Japan’s Kyoto Bank and the Bank for Investment and Development of Vietnam (BIDV) have inked a memorandum of understanding for offering banking services to Japanese businesses and investors in Vietnam, the bizhub.vn reported.

BIDV said in a statement that the two banks would boost cooperation in credit, domestic and international payments, foreign exchange operations, and many other areas.

The MoU also involves consulting on the investment environment in Vietnam and its financial and banking laws and regulations for foreign investors as well as matching businesses from the two countries.

Kyoto Bank, which has total assets of $68.59 billion, is the 20th Japanese lender with which BIDV has tied up.

BIDV also launched the BIDV Business Online – an online banking service- for the Japanese businesses.

Also read:

Japanese firms seek more investment in Vietnam: Survey

BIDV talking to 8 foreign investors for strategic partnership

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.