JBIC lends $314,000 to Vietnam-based semiconductor firm Advantech
Japan Bank for International Cooperation (JBIC) will loan JPY50 million ($314,088) to support Advantec Vietnam Co. Ltd. in manufacturing and selling semiconductor equipment in the country.
JBIC has signed a loan agreement with Tokyo-based Advantech Co. Ltd, parent of Advantech Vietnam, the bank said in a Thursday release.
The agreement will be implemented with co-financing with The Bank of Yokohama, bringing the total co-financing amount to JPY100 million ($628,175), the release said.
Advantech products at an exhibition in Vietnam. Photo courtesy of Advantech Vietnam.
Advantech is a small and medium-sized enterprise (SME) providing vacuum items for semiconductor manufacturing equipment and test wafers. Its Vietnam subsidiary is a manufacturing base that aims to assist facilities in Japan and strengthen overseas sales.
By supporting Advantech's overseas business development, the loan will help Japanese companies strengthen their supply chains as also maintain and improve the Japanese industry’s international competitiveness, the JBIC release said.
Vietnam has been ranked second among the most "promising" countries for overseas business over the medium-term (next three years), according to a JBIC survey of Japanese manufacturers.
In the 35th edition of JBIC’s "Survey report on overseas business operations by Japanese manufacturing companies" reviewing 2023, Vietnam recorded a score of 30.1, higher than 28.9 in 2022. India remained the top destination, scoring 48.6 last year, much higher than 40.3 in 2022.
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