- Business Advantage
Colin Hansen, President & CEO of AdvantageBC states, “We are pleased to partner with Mizuho. Mizuho has been an important part of the business community in British Columbia and through this collaboration we can find opportunities that will be of mutual benefit to Japan and Canada.”
Mizuho Bank is the retail and corporate banking arm of Mizuho Financial Group, one of the largest financial services companies in Japan. Mizuho Bank first started business in Canada as a Schedule II bank in 1982 in Toronto, Ontario and Vancouver, British Columbia. In 2007, Mizuho Bank Canada changed its organization from a local subsidiary to a Branch as a Schedule III Bank. Mizuho Bank Canada also established a Calgary, Alberta office in 2013.
This is a win-‐win for both organizations: it is the first MOU signed by Mizuho Bank with a Canadian economic development entity; and it is the first MOU signed by HQ Vancouver, AdvantageBC and BCBC with a Japanese entity.
The purpose of the MOU is for the organizations to collaborate to promote Japanese firms seeking to establish a presence in North America to choose Vancouver for their head offices. Both organizations cite the many advantages of Vancouver and British Columbia for Japanese companies: Vancouver being the closest major city in the Americas to Japan; connectivity to Japan via convenient non-‐stop flights; gateway to the North American market; ability to do business in both markets on the same day; very stable financial services governance including a competitive tax regime; and a diverse talent pool and supporting professional services with an understanding of Japanese business.