Japanese active in dealmaking market

Japanese companies are increasingly leveraging mergers and acquisitions, joint ventures, and strategic alliances with Vietnamese firms to strengthen their market presence.

- By Thanh Van

On June 16, Japan Airlines and Toyota Tsusho agreed to form a joint venture with Hong Kong-based HAECO and Vietnam’s Sun Group to develop an aircraft maintenance, repair and overhaul (MRO) complex at Van Don International Airport in Quang Ninh, with a total investment of $360 million.

The facility will be capable of accommodating four wide-body aircraft and two narrow-body aircraft simultaneously, and is expected to become one of the largest aircraft maintenance bases in Vietnam. Operations are scheduled to commence in 2028, and the scheme is expected to create approximately 1,000 jobs, including 200 foreign specialists.

According to the Civil Aviation Authority, Vietnam’s MRO market is projected to reach approximately $7.4 billion by 2030. However, at present, domestic maintenance capacity has not kept pace with the growth in demand, making the expansion of maintenance capabilities an urgent priority. This venture aims to address such structural supply-demand gaps, while enhancing aircraft maintenance capabilities in Vietnam and increasing technical self-reliance.