JBIC's First MOU with Mexican Local Government
Supporting Overseas Business Deployment of Japanese Mid-Tier Enterprises and SMEs in Partnership with State of Aguascalientes, Mexico
- Area: Latin America and the Caribbean
- Mid-Tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed today a memorandum of understanding (MOU) with the Aguascalientes State Government of Mexico, in the presence of Mr. Carlos Fernando Almada López, the Mexican Ambassador to Japan, and Mr. Carlos Lozano de la Torre, the Governor of the State of Aguascalientes. The MOU aims to support the deployment of Japanese mid-tier enterprises and small and medium-sized enterprises (SMEs) to the state. This is the first time for JBIC to conclude an MOU with a Mexican state government for such business cooperation.
The MOU, whose main purpose is to support Japanese mid-tier enterprises and SMEs with whom Japanese financial institutions have business relations, agrees on JBIC acting as an intermediary between the State of Aguascalientes and Japanese financial institutions, and actively utilizing a Japan desk (a desk providing services exclusively for Japanese companies), which is scheduled to be established by the state. It also agrees on provision of advisory services to mid-tier enterprises and SMEs from both JBIC and the state.
Ever since a Japanese automobile manufacturer expanded into the State of Aguascalientes in the 1980s, there has been a succession of entries into the state by Japanese manufacturers of automotive parts, including mid-tier enterprises and SMEs, resulting in approximately half of the foreign investments made in the state being from Japanese companies*1
. The conclusion of this MOU thereby supports such business deployment by Japanese mid-tier enterprises and SMEs to the State of Aguascalientes, and is aimed at contributing to maintaining as well as strengthening the international competitiveness of Japanese industries.
As Japan's policy-based financial institution, JBIC will continue to support the maintaining and strengthening of the international competitiveness of Japanese industries by developing and enhancing the framework for supporting the overseas business deployment of Japanese mid-tier enterprises and SMEs in regions such as Central America, in cooperation with Japanese financial institutions, as well as local governments abroad.
- *1 As of 2014.