Mizuho Bank, Ltd. signed a memorandum of understanding (MOU) for business cooperation with the Ministry of Investment of Saudi Arabia (MISA), on December 16, 2020, on the occasion of the Saudi-Japan Vision 2030 Business Forum held on the same day.
MISA is the government ministry of the Kingdom of Saudi Arabia responsible for overseeing the development of the Saudi investment landscape in line with Vision 2030.
The ministry promotes investment opportunities, formulates policy that develops a business-friendly environment, grants investment licenses, and facilitates access to the Kingdom’s emerging sectors for both local and international investors.
In 2016 Saudi Arabia introduced Saudi Vision 2030, a national strategy to diversify the Kingdom’s economy and reduce its dependence on fossil fuels. As a central objective of Vision 2030, Saudi Arabia has been making efforts to attract investment from foreign companies by opening up new sectors and implementing a program of economic reforms.
Since the opening of Mizuho Saudi Arabia Company in November 2009, Mizuho has been providing a full range of financial and advisory services in Saudi Arabia, as the first Japanese bank to enter the country.
The latest MOU will enable us to utilize MISA’s wealth of information and network with local companies as we provide enhanced support to companies interested in entering or finding local business partners in Saudi Arabia. We will also further improve the quality of our services in order to meet a wider range of client needs.