On 9 November 2026, at the Vietnam–Japan Public-Private Forum on Economic, Science and Technology Cooperation in Tokyo, held during General Secretary and State President To Lam's official visit to Japan, two Vietnamese financial institutions announced deals to widen capital channels from Japan: SSI Asset Management (SSIAM) and BIDV.

SSIAM signs investment deal with EVF

SSIAM signed an agreement to invest in Electricity Finance Joint Stock Company (EVF). The investment is expected to go through two funds SSIAM set up with Japanese partners: Japan Vietnam Capital Fund I, L.P. (JVCF), with the Development Bank of Japan (DBJ), and Daiwa-SSIAM Vietnam Growth Fund IV, with Daiwa Corporate Investment (DCI). EVF's offering is expected to exceed 1,100 billion VND, around 45 million USD; the deal will proceed once terms are agreed and regulatory approvals obtained.

Under EVF's announced plan, the company will privately place up to 85 million shares at an expected 13,500 VND per share, aiming to raise 1,147 billion VND. Expected investors are JVCF (over 22.1 million shares), Daiwa-SSIAM Fund IV (about 4.58 million), SSIAM directly (over 18.27 million) and Leadvisors Capital Group JSC (40 million). In parallel, EVF is pursuing an international bond issue with a total face value of up to 300 million USD.

Beyond equity, SSIAM plans to connect EVF with more than 20 regional banks and credit rating agencies in Japan via Daiwa and DBJ. On the same day, SSIAM and DCI signed a memorandum with three directions: opening funding channels from Japanese regional banks for Vietnamese firms; promoting medium- and long-term financing through Daiwa-SSIAM Fund IV; and deeper business links between the two countries, including M&A.

BIDV moves into asset management with SMTG

BIDV Chairman Le Ngoc Lam and Sumitomo Mitsui Trust Group (SMTG) Chairman Toru Takakura exchanged a joint venture agreement to establish the BIDV – AMOVA Fund Management Company. The agreement was signed between BIDV Securities (BSC) and Amova Asset Management, an SMTG member; the two had earlier signed a joint venture cooperation agreement in Tokyo on 25 August 2026. The venture combines BSC's client base with Amova's international asset management experience to develop new investment products. The sources did not disclose charter capital or ownership split.

What it means for the market

The deals point to growing interest from Japanese institutional investors in Vietnamese financial institutions and asset management products. More long-term funding channels and a new fund manager could help diversify the investor base. Most transactions are still "expected" and need to complete their procedures.

Key takeaways