Tamil Nadu is the only state to have 3 ports in India. It’s proximity to South East Asia makes for it an ideal destination for investment for companies from Japan.
JUN KUROKI, GENERAL MANAGER, MIZUHO BANK LTD.
Mizuho Bank, Ltd. is the integrated retail and corporate banking unit of Mizuho Financial Group and one of the largest financial services company in Japan, with total assets of approximately $1.64 trillion in 2014. Mizuho is one of the three so-called Japanese “megabanks” (along with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group).
Mizuho Bank has over 505 branches and offices in Japan and in thirty-six other countries and regions, and is the only bank to have branches in every prefecture in Japan.
Mizuho has a valuable presence in Chennai, Tamil Nadu. Mizuho Corporate Bank and Mizuho Bank had signed a MoU with Guidance Bureau on 4th February 2010 with the objective of promoting Japanese investments in Tamil Nadu. Subsequently, the State Government also supported Mizuho Bank in getting a branch licence from Reserve Bank of India. Mizuho Bank chose Chennai and the reasons quoted in the Mizuho Bank report are:
“Chennai is the capital of the State of Tamil Nadu and the largest city in the southern region of India. It is home to several large ports including Chennai and Ennore and boasts a well-developed automobile and auto-parts industry, as well as other strong industries such as electronic components, IT, and machinery. Tamil Nadu is one of the leading regions for economic growth in India and it has many valuable attributes including well-developed infrastructure, a strong labor force, and close proximity to Southeast Asia. In addition, Tamil Nadu is proactively working to attract foreign investment to the state, which has led to a significant increase in foreign direct investment, not only from Japan, but many other countries as well. Going forward, we are projecting further development of infrastructure, including creation of industrial parks and further establishment and expansion of ports and roads”.
Mizuho Bank opened its branch in Chennai on 27th November 2013.
Mizuho Bank jointly with Ascendas, Singapore and JGC, Japan have established “one Hub Industrial Township” project near Chennai. Again, Guidance Bureau under Government of Tamil Nadu and Ascendas-Mizuho Bank-JGC Consortium had signed a MoU to extend mutual cooperation in promoting Japanese investment in Tamil Nadu. As a result of this cooperation a large number of Japanese customer industries of Mizuho Bank have established operations in Tamil Nadu.Watch video
10 Reasons to Choose Tamil Nadu