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The Japan Bank for International Cooperation (JBIC; Governor: HAYASHI Nobumitsu) signed on July 14 loan agreements amounting to up to approximately USD3 million (JBIC portion) and approximately USD21 million (JBIC portion) with AEON Vietnam Co., Ltd. (AEON Vietnam), a Vietnamese subsidiary of AEON Co., Ltd. (AEON). The loans, which are for AEON Vietnam to open new stores in the provinces of Binh Duong and Long An, are co-financed with Mizuho Bank, Ltd., bringing the total co-financing amounts to approximately USD5 million and approximately USD36 million, respectively.
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The loans are intended to provide the funds necessary for AEON Vietnam to open two new general merchandise stores (GMSs) in southern Vietnam.
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In its Medium-term Management Plan for 2021 to 2025, AEON intends to accelerate its investment to expand its overseas businesses, mainly in Asia. Against this backdrop, AEON views Vietnam, where the demand in the retail market is expected to grow along with the country’s rapid economic development and population increase going forward, as a country to focus mostly on, and the company is opening new GMSs at an accelerated pace in Vietnam to expand its business. The loans will support AEON’s overseas business expansion, thereby contributing toward maintaining and improving the international competitiveness of Japanese industry.
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As Japan’s policy-based financial institution, JBIC will continue to provide financial support to assist Japanese companies in the overseas expansion of their businesses.
