10:22 | 12/09/2016 Investment
It has been unveiled that Allied Telesis signed an agreement on September 9 committing to jointly provide US$50 million of foreign direct investment in Saigon Silicon City.
Purportedly, Allied Telesis is a consortium of high-technology infrastructure in the world, has a long history of experience in research, development, networking and telecommunications solutions.
Details of the agreement are sketchy at best, but presumably the US$50 million is pursuant to a joint venture agreement between Allied Telesis and Silicon Park Joint Stock Company.
In making the announcement, it is also not clear whether Allied Telesis is a US company or in reality is a Japanese Holding Company that has some affiliation with a US company and to what extent the agreement is binding, if at all./.