Loan to be re-lent for construction of factory for lease to Japanese enterprises in Dong Nai province.
The Japan International Cooperation Agency (JICA) lent $24 million to the Bank for Investment and Development of Vietnam (BIDV) on August 13, with the Japanese SMEs Development Joint Stock Company to then borrow the funds from BIDV. The 15-year loan is to build a factory for lease in Nhon Trach district in Dong Nai province.
Mr. Nguyen Thanh Binh, a member of the company’s Board of Directors, said the factory has an area of 100,000 sq m with facilities for Japanese enterprises in support industries and electronics in the province.
He explained it could not borrow directly from JICA because it requires a domestic bank do so.
Established in June 2015, the Japanese SMEs Development Joint Stock Company is a joint venture between the Tin Nghia Corporation, Forval from Japan, and Dong Nai ICD, a container service company.
There are currently 198 Japanese projects in the province with total investment of $3.5 billion, Mr. Binh said.