MAKATI CITY — The Board of Investments (BOI), under the Department of Trade and Industry (DTI), has renewed its partnership with Mizuho Bank to encourage more Japanese investment in the Philippines, marked by a memorandum of understanding (MOU) signed last week.
According to Philippines News Agency, who signed the MOU with Mizuho Bank Manila General Manager Masaaki Wada on July 16, the agreement focuses on enhancing investment promotion efforts, including seminars, business-matching activities, and information exchange. This renewed collaboration aims to leverage Mizuho Bank's influential network to attract more Japanese investors to the Philippines.
Rodolfo highlighted the success of previous collaborations under this partnership, noting significant Japanese investments, including Nitori Holdings Co., Ltd., which recently opened its first store in Taguig City and plans more within the year. He attributed these successful ventures to the supportive role played by Mizuho Bank, emphasizing the bank’s pivotal contribution to facilitating job-creating investments in the country.
With Japan being one of the top sources of foreign direct investment in the Philippines, this partnership has been instrumental in maintaining strong investment flows, particularly in equity capital placements. The upcoming BOI investment promotion mission to Japan, scheduled for the last quarter of 2024, is eagerly anticipated to further these efforts.