The Vietnamese Government has given green light to the Japanese Mitsui group to set up a wholly-foreign invested company.

The Trading Mitsui Vietnam company will operate in import-export and goods distribution, fully invested by itself. The company is due to be set up in Ho Chi Minh City in early 2007 and become operational in April of the year.

The Mitsui group now has two representative offices, one in HCM City and the other in Hanoi. The Japanese giant is expected to send additional employees to Vietnam, bringing its staff in the country to 85.