- Region: The Middle East
- Energy and Natural Resources
Tokyo, Japan, 17 December 2007: Japan Bank for International Cooperation (JBIC); today signed a memorandum of understanding (MOU) with Mubadala Development Company (Mubadala), an investment vehicle owned by the Government of the Emirate of Abu Dhabi, established to help diversify the oil-based economy through global, sustainable investment and by building businesses.
The MOU was signed by HE Nasser Al Suwaidi Chairman of the Planning & Economy Department of the Emirates of Abu Dhabi and Board Member of Mubadala and Koji Tanami Governor of JBIC during the official visit of H.H. Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Commander of the UAE Armed Forces.
The agreement seeks to establish a partnership between JBIC and Mubadala by exchanging views and information with respect to large-scale business opportunities in the areas of petrochemicals, oil and gas, infrastructure, high-tech industries, energy conservation, etc., in developing countries, including East Asia.
With its close relationship with Mubadala, JBIC will contribute to expanding business opportunities for Japanese firms. It is expected that this relationship will promote investment activities of Mubadara in developing countries, such as East Asia, and create closer economic relations between Abu Dhabi and Japan.