TTC Group inks MoU with Sojitz Vietnam

Mizushima Kozo, general director of Sojitz Vietnam, and Huynh Bich Ngoc, first vice chairwoman and CEO of TTC Group, at the signing ceremony

TTC Group and Sojitz Vietnam will collaborate in renewable energy, new energy (biogas, bio - LNG, and sustainable aviation fuel), and energy solutions. They will also look at agriculture, real estate, and education.

This year is a pivotal moment for TTC Group, as it looks to achieve its goals set for 2030. Based on its strengthened foundations, 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

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 for their upcoming development strategies. He expressed admiration and appreciation for Sojitz's contribution to Vietnam's socioeconomic landscape. The MoU will help both parties maximise their strengths and potential. He also expressed confidence that after the signing, both sides will have more opportunities to develop sustainably together.

Mizushima Kozo, general director of Sojitz Vietnam

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. They are both constantly innovating and adapting to market fluctuations to establish a solid position in the Vietnamese market and internationally.

In particular, TTC and Sojitz share a common vision aimed at sustainable development, prioritising community interests through the goal of enhancing quality of life. These similarities are expected to serve as a foundation for the development of the cooperative relationship between the two parties, he said.

Yoshitomi Eiji, executive vice president and COO for Asia & Oceania at Sojitz

Sojitz Vietnam operates in various business sectors globally, including manufacturing, trading, importing, and exporting a wide range of products, alongside providing services and investing in a diverse business portfoli 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, Sojitz's total assets and profits stood at 2.9 trillion Japanese Yen ($20 billion) and 101 billion Japanese Yen ($688 million), respectively.

Currently, Sojitz has around 350 subsidiaries and 140 joint venture companies, with nearly 20,000 employees worldwide. Sojitz Corporation was 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 centres, industrial park investment (Long Duc Industrial Park), retail systems (Ministop), and agriculture (Vinabeef). Sojitz's investment portfolio in Vietnam has reached nearly $900 million.

With over 45 years of development, TTC is a multi-industry investment corporation operating in agriculture, energy, residential, tourism, and industrial real estate, hospitality, and education.

TTC also operates in Laos, Cambodia, Singapore, and Australia. As of the end of June 2024, TTC Group's total assets stood at $4.4 billion.

Additionally, TTC Group is committed to the mission of sustainable development, applying international 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 segments, and has been recognised by major global financial institutions for successfully raising green loans, green bonds, and hybrid capital based on these foundations.

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.

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