The northern province of Vinh Phuc and Mizuho Bank from Japan will co-operate to promote Japanese investment in the locality, following a memorandum of understanding (MoU) inked between the provincial People’s Committee and the bank on Wednesday.

Under the MoU, Vinh Phuc will facilitate Japanese investors, who are also Mizuho Bank’s customers, to invest in the province while creating the most favourable conditions for the bank to participate in its forthcoming investment promotion conferences and other related events in order to meet directly with the firms doing business in the province and those who desire to invest.

Meanwhile, Mizuho Bank will provide Vinh Phuc with consultation in financial services, support the locality in organising investment promotion activities in Japan while facilitating its participation in the bank’s domestic and international events.

The provincial People’s Committee chairman Nguyen Van Tri said he hoped that with this co-operation, more and more Japanese investors will invest in his province in the near future.

As of February 2018, Vinh Phuc had attracted 278 foreign-invested projects, worth more than US$4 billion. Of them, 31 were financed by Japanese businesses with capital totaling $816 million. That had helped Japan rank second in number of projects and in levels of capital.

Mizohu Bank, a member of Mizuho Group, is one of the three largest banks in Japan. With a history of over 130 years, the bank’s corporate customers have thus far reached 100,000, the province’s official website reported. — VNS