Mitsui Buys Stake in Tasco in Bet on Vietnam’s Auto Sector

Mitsui & Co. has invested in the auto unit of Vietnam’s Tasco JSC as the Japanese trading house seeks to benefit from the growing demand for vehicles in the Southeast Asian nation.

Mitsui made an initial investment in Tasco Auto on July 31, according to a joint statement on Friday, which didn’t disclose the value or size of the stake. The deal makes Mitsui a strategic investor and will help Tasco’s long-term plans, they said.

Tasco Auto, which has 90 showrooms featuring 14 brands including Ford, Nissan and Volvo, intends to launch a complete knock-down car project this ...