OREANDA-NEWS. The Japan Bank for International Cooperation and Mizuho Corporate Bank on Monday signed a memorandum of understanding with a Singaporean government agency, agreeing to spur cooperation among small businesses in the two countries.

The two Japanese entities will learn about small Japanese companies' needs and pass them on to their potential Singaporean partners. The duo also plans to provide funding through their joint venture equity fund for investing in local businesses based in Southeast Asia.

Companies around the world are rushing to the region, attracted by its sustained domestic-demand-driven economic growth. Many small and midsize Japanese businesses in the food and apparel industries are very interested in establishing a presence there, but often end up refraining due to a lack of local business know-how.

JBIC and the Mizuho Financial Group Inc. unit aim to help such Japanese firms find partners in Singapore by working with the SPRING Singapore agency under the country's Ministry of Trade and Industry.