There is a trend that
foreign corporations entering Vietnam market as they see the potentials of this
rising economy.
Japan’s Idemitsu Kosan
Group has received an investment license to open a joint venture with a unit of
Kuwait to build a petrol distribution system in Vietnam.
This corporation will
contribute 50% capital to Idemitsu Petroleum Q8 Co., Ltd, along with Kuwait
Petroleum International (KPI) to set up station system to retail gasoline in
Vietnam.
The investment
registration license has been granted by the Vietnam Government and the business registration procedures are being conducted. If completed,
this would be the first time when Vietnam petroleum distribution market has the
participation of an enterprise with 100% foreign capital.
Currently, the two
partners in the joint venture of Idemitsu Petroleum Q8 are all shareholders in
Nghi Son Petrochemical Complex and Vietnam Oil and Gas
Corporation (each party hold
35% of the capital).
Nghi Son Petrochemical
is expected to trial operating in 2016 and commercial operating in 2017. Thus,
through the establishment of a separate company on the distribution of
petroleum products, Idemitsu and KPI will complete the production and
distribution chain in Vietnam, ensuring the supply as well as output for the
product.
Apart from the
investment in joint venture distribution and petrochemical company, Idemitsu
Kosan is also engaged in a series of beginning stage projects of the petroleum
industry, such as investment in the mining lots (Lot 09-3, Lot 05.1). Moreover,
this Japanese giant also said that they are ready to consider contributing
funds when PV Oil carries out equitisation.
Idemitsu Kosan is one of
the leading oil and gas group in Japan, with history of over 75 years of
formation and development. The group’s market capitalization has now reached
108.6 billion Yen (almost 1 billion USD) with net sales in 2014 reached 4,630
billion Yen (about 42 billion USD). By the end of the first quarter of 2015,
the corporation has nearly 9,000 employees.
ANT Consulting is here
to assist you from the outset; providing corporate intelligence, risk advisory, management consulting services that assist
market entrance, and ensure efficient business start-up operation.
We strive to save your
cost by guiding you towards economical solutions that comply with local
legislation and procedures. We support you through early logistic solutions and
carry you through as your business grows. We aim to bridge the gap
between international best practices and local cultures and assist foreign
companies and organizations entering Vietnam market to overcome commercial and regulatory
issues.
We could be reached at email: ant@antconsult.vn or
tel: +848 3520 2779 . To learn more about us, please visit www.antconsult.vn
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