- Region: 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 on February 23 a memorandum of understanding (MOU) with BANCO NACIONAL DE MÉXICO, S.A., INTEGRANTE DEL GRUPO FINANCIERO BANAMEX (Banamex), a Mexican bank, for developing and strengthening a framework to support the business deployment of Japanese mid-tier enterprises and small and medium-sized enterprises (SMEs) to Mexico through Japanese regional financial institutions. Under this MOU, JBIC will build a framework for conducting continuous consultation on specific cooperative measures with Banamex to support Japanese mid-tier enterprises and SMEs, with whom Japanese regional financial institutions have business relationships, expand their businesses in Mexico.
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)" (the "Framework") in December 2010, JBIC has been working with the Regional Banks Association of Japan and others to strengthen partnerships with overseas local financial institutions, while identifying the needs of mid-tier enterprises and SMEs for expanding overseas business operations through Japanese regional financial institutions. Banamex, a major financial institution of Mexico, is developing its financial business in various areas, from providing financing to major companies, mid-tier enterprises, and SMEs to retail banking. At the same time, Banamex aims to expand business with Japanese mid-tier enterprises and SMEs as a new business field, by forming business partnerships with Japanese regional financial institutions whose clients are these mid-tier enterprises and SMEs, and creating new business opportunities, such as financing.
JBIC and Banamex will, on the basis of this MOU, support Japanese mid-tier enterprises and SMEs expand their businesses in Mexico by holding discussions towards forming concrete partnerships with Japanese regional financial institutions, such as by actively utilizing a Japan desk (a desk providing services exclusively for Japanese companies), which has been established by Banamex.
To date, JBIC has, under the Framework, signed MOUs with KASIKORNBANK Public Company Limited (KASIKORNBANK) in Thailand, PT. Bank Negara Indonesia (Persero) Tbk (BNI) in Indonesia, the State Bank of India (SBI) in India, BDO Unibank, Inc. (BDO) and Metropolitan Bank and Trust Company (Metrobank) in the Philippines, Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), and Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank)*1. Previous to this MOU, JBIC has concluded MOUs with the Mexican state governments of Aguascalientes, Jalisco, and Guanajuato*2. These MOUs, signed with Mexican state governments and a local bank enhance the Framework respectively, and are instrumental in implementing the Japanese government's "drastic measures to enhance the comprehensive support system for the overseas development of mid-tier enterprises and SMEs" as part of the "Comprehensive TPP-related Policy Framework" (announced by the TPP Task Force on November 25, 2015).
- Through such efforts, JBIC, as Japan's policy-based financial institution, will continue to cooperate with Japanese regional financial institutions and actively strengthen its relationships with local financial institutions in Mexico, where Japanese companies are expanding their businesses, in order to develop and enhance the Framework to support the overseas business deployment of Japanese mid-tier enterprises and SMEs.
- *1 See Press Releases about MOUs with: KASIKORNBANK in Thailand on May 30, 2011; BNI in Indonesia on July 28, 2011; SBI in India on August 31, 2012; BDO and Metrobank in the Philippines on March 21, 2013; BIDV in Vietnam on July 25, 2013; and Vietcombank on August 30, 2013.
- *2 JBIC concluded the same type of MOU with the State of Aguascalientes in October 2015, the State of Jalisco in November 2015, and the State of Guanajuato in February 2016. Please see Press Releases on October 26, November 11, 2015, and February 24, 2016, respectively, for further details.