Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara), with the support of Mizuho Bank (Malaysia) Berhad (Chief Executive Officer: Katsutoshi Toba) and Mizuho Research & Technologies, Ltd. (President & CEO: Masahiro Otsuka), has signed an agreement with the Malaysian Investment Development Authority (MIDA) to be appointed as an investment lead generation consultant for Japanese foreign direct investment (FDI) into Malaysia.
MIDA is the Malaysian government’s principal investment promotion agency for the development of the manufacturing and services sectors in Malaysia. It plays an important role in advising investors on government policies and procedures, and in evaluating applications on projects in the manufacturing sector and major services sub-sectors.
In recent years, Malaysia has made remarkable advancements as an integrated hub for manufacturing activities, including in the electronics sector. In light of the ongoing COVID-19 pandemic, companies are looking to diversify their supply chains as a measure toward preventing and mitigating disruption. This has put Malaysia, together with the rest of Asia, in the spotlight as a potential candidate for FDI.
Since signing a memorandum of understanding with MIDA in 2006, Mizuho has been supporting the promotion of FDI from Japanese businesses into Malaysia. Based on this latest agreement, we will continue to work with MIDA in advising on activities to promote FDI, arranging business meetings with potential investors considering Malaysia, and promoting Malaysia as an investment destination for key industries.
We at Mizuho will take this opportunity to continue meeting the needs of our clients in Japan for their overseas businesses. We also look forward to positively contributing to the Malaysian economy through this project.