- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
November 19, 2013
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a loan agreement totaling up to 120 million yen (JBIC portion) with OGINO VIETNAM CORPORATION (OVC), a subsidiary of OGINO KOGYO CO., LTD. (Ogino Kogyo; Headquarters: Hiroshima Prefecture; President: Takeo Ogino) in Vietnam. The loan is cofinanced with private financial institutions.
The loan is intended to finance the expansion of existing facilities, located in Hanoi, Vietnam, for manufacturing of automobile parts related to engine and transmission.
Ogino Kogyo is a small and medium-sized enterprise manufacturing and selling automobile parts and has supplied them to local subsidiaries of major automobile parts manufacturers in Vietnam, since the establishment of OVC in 2006. Amid the expected growth of demand for automobile parts centering in Asia, Ogino Kogyo decided to expand its production capacity in response to the needs of major customers. Thus, this loan will contribute to maintaining and improving the international competitiveness of Japanese industries, through supporting of the overseas business deployment of Ogino Kogyo.
As a public financial institution, JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises as well as small and medium-sized enterprises, in growing markets such as Vietnam, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.