On February 16, 2006, Mizuho Bank, Ltd. and Mizuho Corporate Bank, Ltd. (both subsidiaries of the Mizuho Financial Group) concluded a Memorandum of Understanding with The Malaysian Industrial Development Authority ("MIDA") concerning support for Japanese companies wishing to establish business operations in Malaysia.
- (1)Cooperation in attracting Japanese companies interested in business opportunities in Malaysia.
- (2)Holding of dialogue sessions with Japanese companies, including small and medium sized enterprises.
- (3)Support for Japanese companies in the selection of local partners in Malaysia and assistance with completion of related procedures.
- (1)Under the Malaysian Ministry of International Trade and Industry, which oversees the promotion and coordination of the development of industry in Malaysia, MIDA is the principal Government agency working to promote and strengthen foreign investment in Malaysia. MIDA operates sixteen overseas offices, including offices in Tokyo and Osaka, and handles all aspects of investing and establishing business operations in Malaysia, including acceptance of applications for investment in Malaysia from foreign companies and providing advice for license approvals, making MIDA the optimal liaison for companies considering investment in Malaysia.
- (2)This MOU was entered into based on the complementary objectives of Mizuho and MIDA: Mizuho Financial Group is looking to further expand its business in Asia, while MIDA is considering increasing investment from Japan, which is the second largest investor in Malaysia after the United States, in terms of aggregate investment.
- (3)Through mutual cooperation that leverages the strengths of each party - Mizuho's vast customer base and expansive network; MIDA's expert advice and support - this MOU aims to support and enhance investment promotion measures in both Japan and Malaysia.