TTC Group and Sojitz Vietnam become strategic partners

On the afternoon of October 3, 2024, in Ho Chi Minh City, TTC Group and Sojitz Vietnam officially signed a memorandum of understanding (MoU) with several important contents aimed at leveraging each party's strengths in various fields of operation and business.

Accordingly, TTC Group and Sojitz Vietnam will become strategic partners, collaborating in areas where both sides have strengths and mutual interests. This signing ceremony marks a new milestone in the process of collaborative development between the two entities.

Mizushima Kozo, General Director of Sojitz Vietnam and Huynh Bich Ngoc, the 1st Vice Chairwoman, CEO of TTC Group, proceeded the signing session for the cooperation under the witness of leaders from both sides

TTC Group and Sojitz Vietnam will collaborate in specific segments: (1) Energy segment, including renewable energy (solar, ưind, hydropower and biomass power), new energy (biogas, bio - LNG and sustainable aviation fuel), and energy solutions (District/Retail Cooling System); (2) agricultural segment; (3) real estate segment (value-added services for the tourism real estate, residential and industrial real estate); and (4) education segment.

The year 2024 is a important pivotal year before entering the “acceleration” phase to achieve the strategic goals set for the 2021-2025 period, prior to realizing TTC Group’s vision for 2030. Therefore, based on the continuously nurtured and strengthened foundation, TTC is committed to enhancing service quality and management capabilities, as well as business control and operations, to assert its brand on the international stage.

Dang Van Thanh, Chairman of TTC Group, expressed his confidence that after this signing, both parties will have more opportunities to develop sustainably together

Speaking at the event, Dang Van Thanh, Chairman of TTC Group, expressed his sincere gratitude to Sojitz Corporation and Sojitz Vietnam for choosing TTC as a partner in their upcoming development strategy. He expressed admiration and appreciation for the achievements that Sojitz has contributed to Vietnam's socioeconomic landscape over the years. According to his views, in the current trend, signing the memorandum of understanding will help both parties maximize their strengths and potential. He also expressed confidence that after this successful signing, both sides will have more opportunities to develop sustainably together.

Mizushima Kozo, General Director of Sojitz Vietnam, affirmed that the signing of the MoU will mark the beginning of a collaborative development between the two parties

At the ceremony, Mizushima Kozo, General Director of Sojitz Vietnam, stated that TTC Group and Sojitz Corporation share many similarities as both are multi-industry private economic groups with a rich history of development, constantly innovating and adapting to market fluctuations to establish a solid position in the Vietnamese market and internationally. In particular, both TTC and Sojitz share a common vision aimed at sustainable development, prioritizing community interests through the goal of enhancing the quality of life for the people. These similarities are expected to serve as a foundation for the development of the cooperative relationship between the two parties. The signing of the memorandum of understanding today marks the beginning of a collaborative development for both sides.

Yoshitomi Eiji, Executive Vice President & Chief Operating Officer for Asia & Oceania share his congratulations on the successful signing event

It is known that Sojitz Vietnam is a subsidiary of Sojitz Corporation, operating in various business sectors globally, including the manufacturing, trading, importing and exporting a wide range of products, alongside providing services and investing in diverse business portfolio both in Japan and abroad.

Sojitz Corporation is a multi-industry conglomerate in Japan, formed from the merger of Nisshoiwai and Nichimen its predecessor companies with a history of over 160 years. As of March 31, 2024, Sojitz's total assets and profits were JPY2.9 trillion (US$20 billion) and JPY101 billion (US$688 million), respectively.

Currently, Sojitz has around 350 subsidiaries and 140 joint venture companies, with nearly 20,000 employees worldwide. Sojitz Corporation is one of the first Japanese companies to establish a representative office in Vietnam 38 years ago and is now involved in various business sectors.

Sojitz Corporation consists of 25 subsidiaries in Vietnam, operating in various fields ranging from trade and import-export of products (Huong Thuy, New Viet Dairy) to logistics centers, industrial park investment (Long Duc Industrial Park), retail systems (Ministop), and agriculture (Vinabeef)... Currently, Sojitz's investment portfolio in Vietnam has reached nearly US$900 million.

TTC Group and Sojitz Vietnam will become strategic partners, collaborating in areas where both sides have strengths and mutual interests

With over 45 years of establishment and development (July 28, 1979 - July 28, 2024), TTC is a multi-industry investment corporation operating in six main segments including (1) agriculture - SBT stock, (2) energy, including renewable energy - GEG stock, (3) residential real estate - SCR stock and tourism real estate, (4) industrial real estate, (5) hospitality - VNG stock, and (6) education.

TTC operates not only in Vietnam but also in the Indochina region (Laos, Cambodia), the ASEAN region (Singapore), and the Oceania region (Australia). As of the end of June 2024, TTC Group's total assets reached US$4.4 billion.

Additionally, TTC Group is one of the organizations committed to the mission of sustainable development, applying international ESG (Environmental, Social, and Governance) standards, particularly in the agriculture and renewable energy segments. The Group is currently expanding into the hospitality and industrial real estate segment and has been recognized by major global financial institutions for successfully raising green loans, green bonds, and hybrid capital based on these foundation.

With shared similarities in history, vision, and strategic orientation, along with alignment in their fields of operation, the signing of the strategic cooperation memorandum between TTC Group and Sojitz Vietnam is expected to bring new opportunities for both corporations in the future.