The State Government has secured a firm commitment from Japan’s Mizuho Bank, a leading global financial institution, for promoting Japanese investments in India, particularly Andhra Pradesh, by leveraging its vast customer base. Mizuho Bank and Sunrise AP, a State-run agency created to facilitate investments in AP, signed a memorandum of understanding on this initiative on Tuesday.

“Mizuho realised that joint cooperation with Sunrise AP will further accelerate Japanese companies’ efforts to promote economic expansion in India, particularly in Andhra Pradesh,” says the MoU signed in the presence of Chief Minister N. Chandrababu Naidu in Japan.

The two agencies will leverage each other’s strengths in order to reach out to companies in Japan interested in business opportunities in Andhra Pradesh. They would collaborate in organising dialogue sessions with Japanese companies, including small and medium-sized enterprises in India and Japan.

The Sunrise AP will facilitate the Mizuho’s client companies that propose to invest in AP by introducing local partners as well as assisting in the implementation of projects. It would also facilitate Mizuho in coordinating with State Government departments for information requirements that are in the public domain and not classified as confidential.

The two firms will organise seminars, dialogue sessions and workshops for attracting Japanese investments in the State.

The Chief Minister invited Mizuho Bank’s managing executive officer Tatsufumi Sakai to set up the company’s India headquarters in Amaravati and a back office in Andhra Pradesh. “We are planning to make our capital a financial hub,” Mr. Naidu said.