- Region: Latin America and the Caribbean
- Manufacturing and Services
- Mid-tier Enterprises and Small and Medium-Sized Enterprises(SMEs)
The Japan Bank for International Cooperation (JBIC; Governor, CEO: Hiroshi Watanabe) signed on March 8 a memorandum of understanding (MOU) with the Nuevo León State Government of Mexico, in the presence of His Excellency Mr. Carlos Fernando Almada López, the Mexican Ambassador to Japan, for supporting the business deployment of Japanese mid-tier enterprises and small and medium-sized enterprises (SMEs) to the state. Under this MOU, JBIC will build a framework for conducting continuous consultation on specific cooperative measures with the State of Nuevo León to support the Mexico-bound businesses of Japanese mid-tier enterprises and SMEs, with whom Japanese 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 and others to strengthen partnerships with overseas local financial institutions. At the same time, JBIC has been identifying the needs of mid-tier enterprises and SMEs for expanding overseas business operations through Japanese regional financial institutions. The State of Nuevo León - whose capital city of Monterrey is Mexico's third-largest city - has developed a thriving economy centered on the capital and seven surrounding cities, which together with Monterrey are collectively called "Greater Monterrey." With the State's highways and railways radiating in all four cardinal directions, the State government intends to make use of its logistics advantages and attract investments from Japanese companies. The conclusion of this MOU will support business deployment by Japanese mid-tier enterprises and SMEs to the State of Nuevo León, with the aim of contributing to maintaining and strengthening the international competitiveness of Japanese industries.
JBIC and the State of Nuevo León will, on the basis of this MOU, support Japanese mid-tier enterprises and SMEs expand their businesses in Mexico by providing JBIC's intermediary services between the State of Nuevo León and Japanese financial institutions and actively utilizing a Japan desk (a desk providing services exclusively for Japanese companies), which is scheduled to be set up by the state, as well as by providing advisory services to mid-tier enterprises and SMEs from both JBIC and the state.
To date, JBIC has, under the Framework, signed MOUs with KASIKORNBANK Public Company Limited (KBANK) 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), Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank), and BANCO NACIONAL DE MÉXICO, S.A., INTEGRANTE DEL GRUPO FINANCIERO BANAMEX (Banamex) of Mexico*1. This is JBIC's fourth MOU to be concluded with a Mexican state government for business cooperation, following MOUs with the states of Aguascalientes, Jalisco, and Guanajuato*2. The recent MOUs signed with Mexican state governments and local banks enhance the framework for business cooperation, and are instrumental in implementing the Japanese government's "drastic measure 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).
- 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 Latin America, in cooperation with Japanese financial institutions, as well as local governments abroad.
- *1 See Press Releases about MOUs with: KBANK 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; Vietcombank on August 30, 2013; and Banamex on February 24, 2016.
- *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.