OREANDA-NEWS. The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) signed a Memorandum of Understanding (MOU) yesterday with Tamil Nadu Industrial Guidance & Export Promotion Bureau (Guidance Bureau) under the State Government of Tamil Nadu in the Republic of India to further promote foreign investments to Tamil Nadu. Guidance Bureau was set up in 1992 with the objective of attracting major investment proposals into Tamil Nadu.

Since inception, Guidance Bureau has successfully attracted major investment proposals to this state, making it one of the top three fastest growing states in India. The state of Tamil Nadu is located in South India and its proximity to ASEAN countries makes it ideal to many foreign investors. The state is bounded by the Indian Ocean to the east, thus ideal for port services.

With many ports located here, such as the Chennai and Ennore Ports, Tamil Nadu is known for its excellent port logistics as well as various other industries such as automobile and parts, electronic hardware, textiles and information technology.

BTMU has presence in India since 1953, and has supported many global corporates in their investments and growth in India. Taking advantage of the MOU with the State of Tamil Nadu, BTMU will provide stronger support to its customers exploring and expanding in this state.