Japanese technical staffing firm Trust Tech has acquired about 44.42% stake in L&A investment corporation, which owns Vietnam HR company Le & Associates.
The acquisition comes as part of Trust Tech’s plan of expanding its businesses in different countries which is part of its strategy in its medium-term management plan. Trust Tech specializes in the provision of dispatching, outsourcing, and sub-contracting staffing solutions Vietnam is now the fifth market in which Trust Tech operates, the others being Japan, China (including Hong Kong) Indonesia and the UK.
Meanwhile, Le & Associates (L&A), founded in 2001, has clients that include local and international organizations in Vietnam and overseas from various fields that comprise fast-moving consumer goods, retail, medicine, technology, logistics, and agriculture. It claims to be the largest human resources solution company in Vietnam with over more than 10,000 active staff.
Trust Tech stated, “We have been actively recruiting Vietnamese engineers in Japan. Our strategic partnership with L&A will offer Vietnamese engineers who return to Vietnam after working in Japan an opportunity to be outsourced to a Japanese company based in Vietnam through L&A, making use of the skills they acquired in Japan.”
The firm further added that utilizing this partnership as leverage, L&A expects to expand their businesses with Japanese companies based in Vietnam.
Pham Thi My Le, Chairperson of L & A, stated, “The participation of Trust Tech Group can strongly boost L & A’s revenue and HR technology. In the opposite direction, L & A with high growth rates will also contribute significantly to the overall development of Trust Tech Group”.
While Trust Tech gets to further its expansion agenda, for Le & Associates this partnership provides an opportunity to expand its business with Japanese companies based in Vietnam.