Toyota Vietnam Allowed to Set up Financial Arm
Japan’s Toyota Vietnam has received a license from the State Bank of Vietnam to set up a one-member liability financial company in the country.
The company, namely Toyota Finance Services Vietnam Company Limited (TFSVN), has a registered capital of VND300 billion (US$18.8 million) and lifespan of 50 years.
The Ho Chi Minh City-based company is allowed to issue bills, bonds, certificates of deposits and other valuable papers to raise funds from domestic and foreign individuals and organizations.
TFSVN will also provide credit for individuals and agents to buy cars of Toyota and consumer guarantee services.
Vietnamese
