March 6, 2018
Mizuho Bank, Ltd.
Mizuho Selected for the Research Project for Japan–Saudi Cooperation in Industry 4.0 –Contributing to Saudi–Japan Vision 2030–
Mizuho Bank, Ltd. (President & CEO: Koji Fujiwara, hereinafter "MHBK") has been selected for the FY2017 research project sponsored by the Ministry of Economy, Trade and Industry (METI), Japan, for developing Industry 4.0 in Saudi Arabia through bilateral cooperation.
The project will be implemented as part of the efforts to promote Saudi–Japan Vision 2030, based on which the two countries has agreed to conduct a joint research for introducing Industry 4.0 in Saudi Arabia and identifying the potential areas of synergy for joint investment.
The research project proposed by Mizuho will be a basic feasibility study for the aforementioned bilateral cooperation. Specifically, MHBK will work with Mizuho Information & Research Institute (MHIR) to explore technological possibilities, conduct market research, and identify the areas of potential bilateral cooperation where Japan has technological advantage.
Mizuho is the first Japanese bank to have established an office in Saudi Arabia. Since the opening of Mizuho Saudi Arabia Company in November 2009, it has provided full financial services, including advisory business, in the country. This project will be an additional opportunity to provide enhanced support to Japanese and other companies entering the Saudi market, and thereby contribute to the greater prosperity of both Saudi Arabia and Japan.
*Saudi–Japan Vision 2030
Formulated in March 2017 during the visit of King Salman Bin Abdulaziz Al–Saud in Japan, it combines the two countries' national programs: Saudi Vision 2030 and Growth Strategy (Japan) and outlines cooperation in a wide range of fields, such as industrial development, infrastructure development, and business incubation, as well as on specific projects aimed at developing a more diversified and innovation–driven economy.