- Region: Asia
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
July 25, 2013
- The Japan Bank for International Cooperation (JBIC; Governor: Hiroshi Okuda) signed on July 24, a memorandum of understanding (MOU) with Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), a major state-run bank in the Socialist Republic of Vietnam, for the development and the strengthening of frameworks to support Japanese mid-tier enterprises as well as small and medium enterprises (collectively "SMEs") through Japanese regional financial institutions. Under this MOU, JBIC has built a framework for conducting continuous consultations with BIDV to support business expansion into Vietnam by SMEs with which Japanese regional financial institutions have business relations.
- Since the Financial Services Agency, the Ministry of Finance, and the Ministry of Economy, Trade and Industry issued a joint press release, the "Development and Strengthening of Support System by Financial Institutions for Small and Medium Enterprises' Entry into Asia through Coordination among Japanese Regional Financial Institutions, Japan Bank for International Cooperation (JBIC) and Japan External Trade Organization (JETRO)" in December 2010, JBIC has been working with the Regional Banks Association of Japan, etc., to strengthen partnerships with overseas local financial institutions, while identifying the needs of SMEs for expanding overseas business operations through Japanese regional financial institutions. Under the policy set forth in this joint press release, JBIC has signed this MOU, following on from MOUs with KASIKORNBANK Public Company Limited (KBANK) in the Kingdom of Thailand, PT. Bank Negara Indonesia (Persero) Tbk (BNI) in the Republic of Indonesia, the State Bank of India (SBI) in India, and BDO Unibank, Inc. and Metrobank in the Philippines*1.
- Based on this MOU, JBIC will conduct discussion with BIDV in seeking to build a concrete collaborative framework through more active utilization of the Japan desk (windows for exclusively providing services to Japanese companies) set by the bank, in order to support the expansion of business operations in Vietnam by Japanese SMEs.
- Drawing lessons from its efforts made in materializing this MOU, JBIC, in cooperation with Japanese regional financial institutions, intends to actively seek to strengthen its relationships with other Asian local financial institutions, thereby developing and strengthening a framework to support overseas deployment of Japanese SMEs.
- *1 See Press Releases on May 30, 2011, on the MOU with KBANK, on July 28, 2011, on the MOU with BNI , on August 31, 2012, on the MOU with the SBI, and on March 21, 2013, with BDO Unibank, Inc. and Metrobank.