- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
May 27, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed today, a memorandum of understanding (MOU) with Mizuho Corporate Bank, Ltd. (MHCB), and SPRING Singapore (SPRING), a government agency under Singapore' s Ministry of Trade and Industry, to aim at establishing the strategic partnership regarding supporting the overseas business deployment of Japanese and Singaporean small and medium sized enterprises (SMEs) in ASEAN countries.
- As Singapore' s enterprise development agency, SPRING supports the growth of Singaporean SMEs through developing capabilities and fostering partnerships with both overseas and local partners to facilitate co-innovation and business expansion. MHCB established in March 2013, the private equity fund (the Fund) which JBIC has joined, targeting to support business deployment of Japanese companies, including SMEs, into ASEAN countries. JBIC has been in discussion with MHCB and SPRING on efforts to jointly promote business collaboration between Japanese and Singaporean SMEs in ASEAN countries. As a result, all three parties have committed their support by signing the MOU.
- Under the MOU, JBIC and MHCB are able to tap SPRING' s network and knowledge of ASEAN countries to promote overseas business deployments and/or creation of business opportunities for Japanese SMEs, as well as promotion of investments utilizing the Fund.
- JBIC will continue to develop and strengthen the overseas business deployments of Japanese companies including SMEs, by collaborating with overseas government agencies and Japanese financial institutions.