August 3, 2005
Mizuho Financial Group, Inc.
Signing of the Memorandum of Understanding with Singapore Economic Development Board
Mizuho Corporate Bank, Ltd. (MHCB: President and CEO, Hiroshi Saito) and Mizuho Bank, Ltd. (MHBK: President & CEO, Seiji Sugiyama) signed a Memorandum of Understanding (MOU) on 2 August 2005 with Singapore Economic Development Board (EDB) to promote Japanese investment in Singapore and the surrounding region.
1. Outline of the MOU
Both organizations agree to
- (1)Cooperate to reach out and lend their support to Japanese companies, which are interested in investing in Singapore and neighboring countries.
- (2)Facilitate regular exchange of information on regulatory framework on investment in Japan, Singapore and the Asia Pacific region to foster better understanding.
- (3)Jointly organize seminars, networking and information dialogue sessions to promote cross-border investment.
2. Purpose of the MOU
- (1)EDB is Singapore's lead agency, responsible for planning and executing strategies to develop Singapore into a global hub for business and investment. EDB has two offices in Japan - Tokyo and Osaka, with the objective of providing support for Japanese companies, which are considering investment to Singapore and the region. In view of that, for Japanese companies interested in investing in Singapore, EDB is the appropriate government agency to approach.
- (2)Singapore's status as a business hub and pro-business environment makes Singapore an ideal business launch pad into the region for South-East and South Asia. For companies which are looking to expand their operations in Singapore, Mizuho-EDB partnership can provide the necessary support through information provision and consultation to these companies.
- (3)The EDB-Mizuho partnership is in line with Mizuho's overall mission of providing better services to its customers. The MOU will also enable Mizuho to further expand its operations in Singapore, South-East Asia and South Asia.