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The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a loan agreement amounting up to USD97.5 million (JBIC portion) with SEI Electronic Components (Vietnam), Ltd. (SEEV), a Vietnamese subsidiary of Sumitomo Electric Industries, Ltd. (SEI). The loan is co-financed with private financial institutions.
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The loan is intended to provide the funds required to enhance the production capability of SEEV, which is engaged in the manufacturing and sales of electronic components in Hanoi, Vietnam.
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Fueled by continued economic growth and increasing population, Asian countries, including Vietnam, have seen increasing demand for electronic products. SEI intends to enhance the production capability of SEEV, as SEI's key operations base for manufacturing and exporting electronic components mainly to the Asian market, thereby precisely meeting the increasing demand for electronic components. Through the loan to SEEV, JBIC intends to support SEI's business expansion in overseas countries and thereby contribute to maintaining and strengthening the international competitiveness of Japanese industries.
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As Japan's policy-based financial institution, JBIC will continue to support the overseas business deployment of Japanese companies by drawing on its various financial facilities and schemes for structuring projects and performing its risk-assuming function.
