“Strategic investment and cooperation agreement” signing ceremony between fecon and development bank of japan (DBJ)

On June, 13^th 2014, Mr Pham Viet Khoa – Chairman of Board of Management cum General Director of FECON Foundation Engineering and Underground Construction JSC and Mr Kiyoto Koyama, representative of Japan Southeast Asia Development Fund – Development Bank of Japan (DBJ) signed “Stratagic investment and cooperation agreement” in Hanoi. [caption id="attachment_2629" align="aligncenter" width="753"] Representatives of FECON and Japan Southeast Asia Development Fund – Development Bank of Japan (DBJ) in signing ceremony[/caption] According to the agreement, Japan Southeast Asia Development Fund – Development Bank of Japan (DBJ) will carry out their investment with the value of about 195 bilion VND when FECON issue their convertible bonds for the year 2014, and through which, become stragetic investor of FECON. FECON will use this strategic investment to increase equipments, strengthen construction capability serving major on-going projects namely Nghi Son Petrochemical Plant, Thai Binh 1 Thermol Power Plant, Da Nang – Quang Ngai expressway, Kyoei Steel Ninh Binh Plant and many other plants in the coming time. Not only participates on financial investment, DBJ also commits to support FECON to improve management capacity, broaden the maket and strengthen the relationship with Japanese investors in infrastructure and other FDI projects in Vietnam. Besides, DBJ also commits to introduce top reliable partners from Japan working in the same field, help FECON to be able to access to and gain the transference of modern technologies (especially in foundation construction field). The access to morden technologies from Japan will help FECON to boost their capability of their core activities, effectively serving to the Company’s sustainable development target. Development Bank of Japan (DBJ) has 100% of its capital owned by Japanese government with total assets up to $ 172 bilion and total income $ 3,6 bilion in the year 2013. On the market of Vietnam, DBJ has set up its long-term relationship since 1990s and have been actively and preferentialy provide financial donations under the form of loans and shares investment for Vietnamese enterprises. Japan Southeast Asia Development Fund was established in 2011 as the result of the cooperation between DBJ and Japan Asia Investment Co.,Ltd. (JAIC) FECON Foundation Engineering and Underground Construction JSC is the current dạ leading contractor in the field of foundation engineering and underground construction. In the end of 2013, the income of FECON reached more VND 1200 bilion, net profit was above VND 116 bilion. 2014 is the 2^nd consectutive year FECON was selected to be in the list of 50 best listed enterprise in Vietnam stock market voted by  FORBES Vietnam magazine.