- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
- Overseas Investment Loans
November 12, 2014
The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Watanabe) signed today a loan agreement totaling up to USD3 million (JBIC portion) with OGINO VIETNAM CORPORATION (OVC), a Vietnamese subsidiary of OGINO KOGYO, CO., LTD. (Ogino Kogyo; Headquarters: Hiroshima Prefecture; President: Takeo Ogino). The loan is cofinanced with THE HIROSHIMA BANK, LTD. and THE IYO BANK, LTD.
This loan is intended to finance the expansion of the production facility (engine- and transmission-related automobile parts) of OVC located in Hanoi City, Vietnam, as well as the construction of its new plant in Bac Ninh Province.
Ogino Kogyo is a small and medium-sized enterprise (SME) manufacturing and selling automobile parts and other products. In 2006, the company established OVC in Vietnam and has supplied automobile parts to major automobile parts manufacturers. As demand for automobile parts is expected to increase in the coming years primarily in Asia, Ogino Kogyo has decided to expand its production capacity of automobile parts in OVC in responding to the needs of its major business customers. Thus, this loan will contribute to maintaining and strengthening the international competitiveness of Japanese industries by supporting the overseas business deployment of Ogino Kogyo.
As Japan's policy-based financial institution, JBIC will continue to support overseas business deployment of Japanese companies, including mid-tier enterprises and SMEs, in growing markets such as Vietnam, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function.