Japan’s Mizuho Bank has signed a Memorandum of Understanding with the northern province of Vinh Phuc on cooperation in boosting Japanese investment in the locality.
Under the agreement, which was signed in Vinh Phuc on March 7, the provincial People’s Committee will create all favourable conditions for Mizuho business customers to make investment in the province.
Local authorities will enable the Japanese bank to join investment promotion events to seek partners and promote its products and services.
Meanwhile, Mizuho will send experts to Vinh Phuc to offer advice on financial and banking services to support investors if requested.
The bank will support the provincial People’s Committee in hosting activities to promote investment.
Speaking at the signing ceremony, vice Chair of the provincial People’s Committee Vu Viet Van said the province has seen strong socio-economic development in recent years thanks to significant contributions by foreign invested firms, including those from Japan.
As of February 2018, the province counted 278 foreign direct investment (FDI) projects worth over 4 billion USD from 15 countries and territories. Japan ranked second with 31 projects with registered capital of 816 million USD and led in business-production efficiency, he noted.
Major Japanese groups investing in Vinh Phuc such as Toyota Vietnam and Honda Vietnam have seen effective operations with the application of modern science technology to create highly competitive products.
Vinh Phuc and other Japanese localities held a lot of investment cooperation activities and cultural exchanges, Van said, adding that he hopes Mizuho Bank will host more promotion activities and support Japanese businesses in investing in the province.
Seiji Imai, a representative from the bank, said Mizuho wants to expand its operation and provide the best services to customers.
In the coming time, the bank will introduce the investment environment in Vietnam and Vinh Phuc in particular to Japanese enterprises as well as provide financial assistance for firms to operate effectively in Vietnam, he added.
