Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara) has been selected for the "2018 project for the study and analysis of overseas agriculture and trade investment environments (Saudi Arabia and the United Arab Emirates)" sponsored by Japan's Ministry of Agriculture, Forestry and Fisheries.
On the occasion of the first visit to Japan by a Saudi king in 46 years in March 2017, Japan and Saudi Arabia established the Saudi–Japan Vision 2030 as a new compass for cooperation between the two countries. The Vision outlines the areas of cooperation and specific projects unique to both countries for the purpose of diversifying and driving industrial innovation by leveraging synergies of the Saudi Vision 2030 and Japan's Global Food Value Chain Strategy. The agriculture and food sectors are regarded as key areas under the Vision. As a result, while Japanese companies' interest in entering these sectors in Saudi Arabia is likely to increase, insufficient information on operating in the Saudi market presents a challenge.
Under this project, Mizuho will conduct a study on promising areas for Japanese agriculture and food companies to enter the Saudi market. A public–private mission will be sent to Saudi Arabia and to Dubai in the United Arab Emirates, which is aimed at supporting the market entry and exports of Japanese agriculture and food companies in both of these countries.
Mizuho is the first Japanese bank to have established an office in Saudi Arabia. Since opening in November 2009, Mizuho Saudi Arabia Company has provided integrated financial services, including advisory business, in the country. We will conduct the project by drawing on our expertise accumulated through providing support to Japanese companies entering overseas markets and Mizuho Saudi Arabia Company's expertise. The project will give us an opportunity to provide enhanced support to Japanese and other companies interested in entering the Saudi market, and thereby contribute to the greater development of both Saudi Arabia and Japan.