Hanoi (VNA) – ♔The Thai government andJapan’s Mizuho Bank have teamed up to attract Japanese investment in thedevelopment of the Southeast Asian country's Eastern Economic Corridor (EEC), markingthe first partnership involving a Japanese financial institution in theproject.

Mizuho, one of Japan's three largestcommercial banks, recently signed a memorandum of understanding on businesscooperation with the EEC Office to promote the area’s development, which isanticipated to lead growth in industrial activity in the second largest economyof Southeast Asia. Approved by the Thai parliarment inFebruary, the EEC development project will span over 13,000 square kilometresin the three provinces of Chachoengsao, Chonburi and Rayong, aiming to achievea total investment of 1.7 trillion THB (54.5 billion USD) in infrastructure andindustries such as robotics and advanced automotive manufacturing. The linkup is the second time aninternational bank has become involved in the project after a similar agreementin May last year between the office and the Industrial and Commercial Bank ofChina, one of four major Chinese commercial banks. Mizuho is planning to negotiate withvarious Japanese investors by June. Japan is one of the largest foreign directinvestment sources of Thailand. The collaboration is expected to help theJapanese bank widen its customer base by creating opportunities to providefinancial solution services to new and current clients. The Tokyo-based bank has increased itspresence in Thailand and the Greater Mekong Subregion, which comprises sixcountries sharing the river, having some 300 corporate customers in the area. -VNA