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VietNamNews

Japanese firm takes 40% stake in Topaco

Update: August, 24/2012 - 10:45

HA NOI — Japanese firm Taiyu Kensetsu has officially become a strategic partner with a 40 per cent stake in the Construction Joint Stock Corporation, known as Topaco.

Kawanaka Yoshio CEO and general director of Taiyu Kensetsu said his firm chose Viet Nam as the location of its investments due to the country's advantageous transport links with nearby countries Cambodia, Thailand, Malaysia and Myanmar.

The co-operation will help Topaco to apply advanced technology from its partner, said Nguyen Ngoc Vinh, general director of Topaco. Under the co-operation agreement, Topaco has set a target of posting a revenue of US$100 million by 2015, $500 million by 2020 and $1 billion by 2025, said Vinh. — VNS

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