One of the Japanese mega banks, Mizuho Bank and Mizuho Bank Nederland N.V. signed a Memorandum of Understanding (MOU) for business cooperation with the Business and Investment Development Agency of the Czech Republic (“CzechInvest”) in support of Japanese companies entering the country.
CzechInvest was established in 1992 by the Ministry of Industry and Trade of the Czech Republic, engaging in mainly attracting FDI. In addition to providing up-to-date information on the local investment environment, it serves as the sole government agency in the country to handle applications for investment incentives.
Located in Central Europe, the Czech Republic is a developed industrialized country. In recent years, it is attracting multinational companies, especially global carmakers, as a European production center. Over 230 Japanese companies have a manufacturing site in the country, due to its geographical advantage and cost competitiveness.
The signing of the MOU will enable Mizuho to access a wealth of information held by CzechInvest in providing various advisory services as well as to host joint seminars. Mizuho says in the press release, the bank will also contribute to the economic development of the Czech Republic, while providing fine-tuned support in addressing customers’ business expansion needs, including new entry and business matching with local partners.
Mizuho has been providing and enhancing various financial services to customers in Central and Eastern Europe through the Vienna Branch (Austria) established in July 2015. It has also signed MOUs for business cooperation with the investment agencies of Austria, Poland, Hungary and Slovakia, in order to enhance support to the customers in the region.
(Source: Mizuho Bank )
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