Mizuho Bank, one of largest banks in Japan, has started operations in Cambodia with its first branch in Phnom Penh.
Bank general manager Takeshi Fukui said the venture would provide financing to investors and entrepreneurs, both local and foreign, in Cambodia.
“The branch opened on April 19 and is providing a source of finance in Cambodia,” Mr Fukui said.
“Financing for individuals and SMEs is available in the country. But what’s lacking is financing for large entrepreneurs and big companies.
“That’s where we at Mizuho can help fill the gap,” he added.
Mr Fukui said Cambodia is important as an important regional player in Asean in terms of connectivity and transport links.
“We are here because of Cambodia’s geo-strategic position,” he said, adding that the opening of a branch in Cambodia was also to attract Japanese investors.
Direct flights between the two countries by Japan’s ANA airline were bringing more Japanese people, particularly businessmen.
A series of seminars related to business matching would be conducted to attract Japanese investors, Mr Fukui said.
The bank received a licence from the National Bank of Cambodia in February.
Chea Serey, director-general of the NBC, said earlier that Mizuho Bank would play an important role in attracting more Japanese businessmen.
“Mizuho will bring in Japanese investors for years to come,” Ms Serey said.