Da Nang, Japanese bank ink agreement

The Da Nang Investment Support and Promotion Board and Japan’s Gifu Shinkin bank have signed a Memorandum of Understanding (MoU) on cooperation, investment promotion for small- and medium-sized enterprises from Japan in Da Nang city. 

Representatives of Da Nang's Investment Support and Promotion Board and Gifu Shinkin bank sign the MoU (Photo: baodautu.vn)

Gifu Shinkin, the largest bank in Gifu, Japan, has more than 156,000 customers, of which seven are Japanese enterprises in Da Nang.

Director of the city’s Investment Support and Promotion Board Le Canh Duong said this was the first MoU that the board had signed with a Japanese bank.

Japan is the biggest investor in Da Nang, with 113 projects worth 397.5 million USD – 10.78 percent of the accumulated foreign direct investment projects in the city – creating 32,000 jobs.

Eighty-four percent of Japanese investment is focused on manufacturing, food processing, construction and information technology, while healthcare, real estate, tourism and education have merged as new investment fields among Japanese investors in recent years.

Source VNA