Japan's Aeon Credit Service Launches Joint Venture in Viet Nam

Aeon Credit Service Co. said Thursday that it has established a joint venture in Viet Nam to launch installment credit services in the Southeast Asian nation.

Aeon Credit Service, an affiliate of retail giant Aeon Co., is the first Japanese company to offer such services in the Vietnamese market.

The joint venture, called ACS Trading Viet Nam Co., has started the services for Vietnamese consumers buying personal computers in tie-up with a PC retailer in Ho Chi Minh City.

Aeon Credit Service plans to team up with more local partners to expand the scope of products covered by the credit service to include durable goods like furniture.

ACS Trading Viet Nam, capitalized at 10 billion dong, or about 65 million yen, is owned 80 pct by Aeon Credit Service and the rest by a local company.

Viet Nam is the eighth overseas market for Aeon Credit Service. (Jiji Press)