Japan Bank for International Cooperation (JBIC) said on July 11 that it will offer a loan of JPY50 million ($314,225) to Advantec Vietnam Co. Ltd., a specialist in semiconductor equipment manufacturing and sales in Vietnam.

This loan will be implemented through co-financing with The Bank of Yokohama, and the total co-financing amount is JPY100 million ($628,450).

Advantech's Vietnamese subsidiary was established as a manufacturing base to bolster backup systems for manufacturing facilities in Japan and elsewhere, as well as strengthen sales overseas.

The loan will strengthen the supply chain of Japanese companies and will contribute to maintaining and improving the international competitiveness of Japanese industry.

Japanese companies have been encouraged to collaborate with Vietnamese partners to engage in the semiconductor industry. A seminar hosted by the Vietnamese Embassy in Japan on July 9 saw the participation of 300 guests, including representatives from top Vietnamese and Japanese semiconductor firms.

Vietnamese Ambassador to Japan Pham Quang Hieu, said, "Vietnam is eager to collaborate with Japanese organisations and firms to promote investment, facilitate technology transfer, foster labour exchange, and deepen integration within the global semiconductor supply chain."

According to Statista, revenue in the semiconductor market is projected to reach $18.23 billion in Vietnam this year. Revenue is expected to show an annual growth rate between 2024 and 2029 of almost 11.5 per cent, resulting in an expected market volume of $31.4 billion by 2029.

By Thanh Van

Source: VIR

Original link