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Japan firm WMH picks Vietnam as ASEAN’s top investment destination

Japan firm WMH picks Vietnam as ASEAN’s top investment destination
Japan firm WMH picks Vietnam as ASEAN’s top investment destination

Japanese companies operating in ASEAN envisage Vietnam as the most lucrative investment destination, as a Tokyo-based WMH company is contemplating acquisition of People Link Joint Stock Company. The acquisition comes in the wake of the its expansion in Australia, Singapore and Taiwan.

Having witnessed a real GDP growth rate of 7% in 2019, Vietnam is perceived to have the second largest economic growth rate in Asia. Reportedly, around 1,879 Japanese companies have had their businesses established in the country.

Vietnam is said to have over 200 foreign-funded fashion companies, while sales of $661 mn were registered in 2019 alone. Stakeholders appear to count on the 96 million population country.

WMH is vying to provide total solution services to its 1,000 clients in the fashion landscape, several of the companies are striving to foray in the Vietnam industry and neighboring countries.

CEO and President of WMH Shinsuke Kafuku stated that People Link was an ideal example of human resources companies in Vietnam. He noted that they would leverage IT technology and Know-how of PL to help expand penetration in AESAN countries.

He believes that seeing the back of COVID-19 would help both online and “real-world development” in AESAN, to become more agile.

The MD of People Link Thu Son stated that WMH was the standout organization and second to none pertaining to passion, culture, and care. The MD stressed that their portfolio expands beyond the realm of fashion industry, covering retail, commerce, and IT, highlighting that all clients would have the opportunity to reap benefits.

WMH Group is said to have 6,000 strong employees globally as the acquisition has helped the company to use the company’s expertise to underpin the human resource requirements in the industry.

Source credit:

https://www.morningstar.com/news/pr-newswire/20200415cn77943/japanese-firm-wmh-invests-in-vietnam-and-expands-its-asean-footprint

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