APEDB, MUFG Bank enter pact for Japanese investments
MUFG Bank is Japan’s largest bank and one of the world’s premier banks with offices throughout Japan and in 40 other countries
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Vijayawada: The Andhra Pradesh Economic Development Board (APEDB) on Tuesday signed a MoU with MUFG Bank with focus on investments by companies from Japan and the eastern Asian countries in AP.
MUFG Bank is Japan's largest bank and one of the world's premier banks with offices throughout Japan and in 40 other countries. The MoU with Japan's premier bank establishes a partnership between MUFG and APEDB across investment promotion, banking and financial inclusion.
The collaboration is expected to result in combining the strengths of AP and MUFG in mobilizing trade promotion and investments into the top sectors of the State with a special emphasis on renewable energy, electronic component manufacturing, pharmaceuticals and logistics.
The MoU was signed by Dr Srijana Gummalla, CEO, APEDB, VC and MD-APIIC and Commissioner, Department of Industries and Kenichiro Kawase, Head of MUFG India in the presence of Kazuyoshi Shibatani, Managing Director, Deputy Head of Delhi NCR Branch, India head of Planning and Strategy (Japanese Corporate) and in the virtual presence of Yukihiro Takeda, Managing Director, Head of Chennai and Srilanka branch In-charge of South India region (AP, Kerala, Tamil Nadu, Telangana).
The meeting was also attended by Prasad Savarapu, Vice President, APEDB and other officials from MUFG and the APEDB.
Speaking at the ceremony, Srijana said AP consistently ranked numero uno in Ease of Doing Business. AP is slowly emerging as an ideal destination for foreign investments. Likewise, with the presence of more than 25 Japanese companies and by setting up Japanese Industrial Township in the State, she said that Japan has also been standing consistently as one amongst the top investors in AP.
She added that AP is looking forward to conducting a roadshow in Japan in the light of the Global Investors Summit 2023, being held in Visakhapatnam on March 3 and 4.
Kazuyoshi Shibatani, Managing Director, Deputy Head of Delhi NCR Branch, India head of Planning and Strategy (Japanese Corporate) said that "as India continues to be a key market for MUFG's network, the bank's association with APEDB shall provide a wide range of opportunities for both Japan and AP."
