JBIC signs MOU with UK Trade and Investment for the purpose of mutual cooperation in order to promote Japanese investment in the UK
- Area: Europe
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today a memorandum of understanding (MOU) for the purpose of promotion of investment in the field of infrastructure from Japan to the United Kingdom (UK) with UK Trade and Investment, "UKTI").*1
- This MOU is aimed at strengthening cooperation and ties between JBIC and UKTI through close dialogue in the light of further promotion of investment for infrastructure projects, such as low-carbon energy generation and transportation projects, in the UK by Japanese companies.
- The UK government has developed the National Infrastructure Plan (which sets out some 250 billion pounds sterling of investment required in UK infrastructure by 2020) which supports sustainable economic growth, and has been actively promoting to attract overseas investment through UKTI, in which many Japanese companies show an interest. Under such circumstances, construction of a business cooperation relationship between JBIC and UKTI is expected to further promote business activities of Japanese companies that are considering business development in the UK.
- Through these efforts, JBIC will continue to support the participation of Japanese firms in infrastructure development projects in the UK by collaborating with the UK government, further deepening and developing economic relations between the UK and Japan in financial terms.
- *1 UK Trade and Investment is the specialist Government department that supports foreign companies seeking to set up or expand in the UK, and UK-based companies to trade internationally.