HO CHI MINH CITY -- Vietnam's Dragon Capital Group and Myanmar's Ruby Hill Financial on Wednesday signed a deal to set up a joint venture that will provide loan products and services to the burgeoning workforce driving Myanmar's rapid economic development.
Ruby Hill will hold a 51% stake in Yangon-based Ruby Hill Microfinance, while the Vietnamese fund will own the remaining 49%. The joint venture will launch with $5 million in capital. The two partners are expected to raise that figure to $100 million in five years, depending on demand in the market.
