May 7, 2007
NETMARKS INC.
NETMARKS Establishes Vietnam Subsidiary
- Supporting Japanese Companies Setting up Operations in 7 East
and Southeast Asian Countries -
NETMARKS INC. (Moto-Akasaka, Minato-ku, Tokyo; President: Atsushi Ohashi; "NETMARKS") is establishing a subsidiary company in Vietnam, which has seen rapid economic growth in recent years. The new company will have branches in the Vietnamese cities of Hanoi and Ho Chi Minh City and is due to commence trading this month.
Since 2000, when the Law on Foreign Investment in Vietnam was amended to allow the establishment of 100% foreign-owned companies, the number of Japanese firms setting up operations in that country has risen sharply, and today stands at around 500. The trend is expected to gather momentum as a result of Vietnam's accession to the WTO in January 2007.
NETMARKS' decision to establish a subsidiary in Vietnam reflects a growing demand from Japanese-affiliated companies (centering on the manufacturing sector) setting up operations in Vietnam for the construction of network systems and for maintenance and support services.
The new company will a joint venture, established with funds from Quantic Ltd. ("Quantic"; Ho Chi Minh City, Vietnam; President & CEO: Bui Quoc Hung) and NETMARKS' Thai subsidiary NETMARKS (THAILAND) Co., Ltd. ("NETMARKS THAILAND") as well as NETMARKS Inc.
Quantic's business centers on outsourced applications development and the company has a strong track record in the development of software for Japanese, North American and European companies. NETMARKS THAILAND will use its geographical proximity to advantage in providing technical support to the new company.
In addition to the accumulated experience of NETMARKS in the building of networks overseas, the new company will draw on Quantic's local support and technical strengths, to provide a still higher quality of service, from network level to application level.
NETMARKS already has subsidiaries in China, the Philippines, Indonesia, Thailand, Singapore, and Malaysia. NETMARKS has a long track record in the provision of integrated support services for the building of WANs linking overseas bases to Japan and the building of LANs overseas, including maintenance and operation, to Japanese-affiliated companies with overseas business bases, the majority of which have, to date, come from the manufacturing sector. NETMARKS will take advantage of the expanded service organization provided by the addition of the new operation in Vietnam in providing support to companies with plans for global business expansion, and offering a still more rounded range of services.
Profile of New Company
Full name : Netmarks Vietnam Co., Ltd.
Investment amount/ratio : Quantic US$ 106,000 (53%)
NETMARKS US$ 68,000 (34%)
NETMARKS Thailand US$ 26,000 (13%)
Branches : Hanoi (Headquarters), Ho Chi Minh City
Date of establishment : May 2007
Representative : Mai Hao Nhien
Number of employees : approx. 10
About Quantic Ltd.
Representative : Bui Quoc Hung
Number of employees : approx. 100
Head office address : Dien Bien Phu St., District 1, Ho Chi Minh City, Vietnam
Business activities : IT consulting, outsourced software development,
custom applications development, offshore staffing
URL : http://www.quantic.co.jp/
*All brand names and product names are trademarks or registered trademarks of their respective companies.
*Prices and start dates for shipment (services) may change without notice.
[Press contact]
Market Communication Department NETMARKS INC.
Tel: +81-3-3423-5782 E-Mail: press@netmarks.co.jp
