Representatives from the Da Nang People’s Committee and Japan’s Sumitomo Mitsui Banking Corporation (SMBC), on Monday, entered in a Memorandum of Understanding (MoU) for providing support mainly for Japanese businesses considering expanding their operations into the city. 

The signing ceremony in progress (Photo: danang.gov.vn)

Under the agreement, SMBC will assist Da Nang to appeal for large potential Japanese businesses which have joined in the Corporation’s corporate client network.  

Furthermore, the Japanese corporation will become actively engaged in publicising Da Nang’s investment environment through its practical activities. 

In particular, the focus will be on organising seminars on investment attraction in both Da Nang and Japan, sending more delegations of Japanese investors to the city to seek investment opportunities here, and facilitating delegations of representatives from the city authorities to conduct investment promotion activities during their working trips to Japan.

In his remarks at the signing ceremony, municipal People’s Committee Vice Chairman Tran Van Mien highly hailed the above-mentioned agreement in boosting the win-win cooperation between his locality and Japanese businesses.  He also vowed that the city authorities would create the most favourable conditions for foreign firms which are SMBC’ clients to seek their business opportunities in the locality.

In reply, Mr Ryuji Nishisaki, the Managing Executive Officer cum Head of Asia-Pacific at SMBC, highlighted the significance of the signing of the MoU, especially as this year marks the 45^th anniversary of diplomatic ties between Viet Nam and Japan (21 September).

The Japanese guest also remarked that SMBC would enthusiastically help Da Nang attract more investors from his country and other countries worldwide in the years ahead.

SMBC is a Japanese multinational banking and financial services company headquartered in Yurakucho, Chiyoda, Tokyo, Japan.  It is a wholly owned subsidiary of Sumitomo Mitsui Financial Group. 

SMBC is the second largest bank in Japan by assets, providing a complete range of financial services including retail and corporate banking, investment banking, asset management, securities trading and other commercial banking services. 

The bank has 3 regional headquarters in Europe, the Americas and  the Asia-Pacific region, as well as subsidiaries in Canada, China, Indonesia, Russia and Brazil. 

With about 29,700 employees, SMBC operates 440 domestic and 18 overseas branches.  SMBC opened its representative office in Ha Noi in 1994, and a similar one in Ho chi Minh City 12 years later.