In a strategic move to enhance its existing collaboration, BDO and Japan’s Shizuoka Bank Ltd. have signed a comprehensive memorandum of understanding (MOU) aimed at strengthening their business alliance.
This agreement is expected to provide Japanese firms with greater access to the Philippines’ dynamic and competitive market.
Expanding Japan-Philippines business opportunities
Shizuoka Bank, a major regional bank headquartered in Shizuoka Prefecture, operates 177 branches and 26 sub-branches, with an extensive network covering key economic hubs in Tokyo, Osaka, and Nagoya.
Since 2016, the bank has collaborated with BDO to provide Japanese businesses with essential financial solutions to facilitate their operations in the Philippines.
Under the expanded partnership, Shizuoka Bank is set to increase its client base in the Philippines by encouraging additional investments and fostering business matching initiatives, BDO said in a statement.
This will provide Japanese enterprises with streamlined financial services, regulatory support, and local market insights to ensure successful market entry and expansion.
Supporting Filipino workers in Japan
Beyond corporate partnerships, the strengthened alliance will also benefit Overseas Filipino Workers (OFWs) in Japan, BDO said in the statement.
As the demand for skilled Filipino professionals rises, BDO and Shizuoka Bank will work together to support technical intern trainees, specified skilled workers, and professionals employed in Japan.
The partnership aims to enhance financial services, remittance solutions, and advisory support for Filipino workers, ensuring their financial well-being while working abroad.
Driving economic growth through partnerships
With this reinforced collaboration, BDO and Shizuoka Bank are not only expanding trade and investment opportunities but also helping companies establish meaningful partnerships, streamline cross-border financial transactions, and navigate complex regulatory landscapes.
This initiative aligns with BDO’s commitment to accelerating national economic development by facilitating foreign investments and strengthening vital industries that contribute to the country’s long-term growth.
As Japanese businesses continue to look to the Philippines as a prime investment destination, BDO remains at the forefront, ensuring they have the financial tools and expertise needed to thrive in the evolving market landscape. -- Ed: Corrie S. Narisma
