November 24, 2015

Sumitomo Mitsui Banking Corporation

Sumitomo Mitsui Banking Corporation and Philippine Economic Zone Authority Sign a Memorandum of Understanding on Cooperation to Promote Japanese Investment into the Republic of the Philippines

TOKYO, November 24, 2015 - Sumitomo Mitsui Banking Corporation (SMBC, President & CEO: Takeshi Kunibe) announced the signing today of a Memorandum of Understanding (MOU) with Philippine Economic Zone Authority (PEZA) on cooperation to promote Japanese investment into the Republic of the Philippines.

PEZA is a Philippine Government institution that is part of the Department of Trade and Industry. It is the contact point for foreign companies considering investment into the Philippines, providing advice and receiving applications for investment approval. It also grants export-manufacturing companies operating in the Philippine economic zones tax exemptions and other preferential treatments. It is a very important organization for the Philippine government which is proactively seeking to attract foreign investment.

We, SMBC, opened our Manila branch in September this year. We are delighted to conclude the MOU with PEZA, as it will further enhance our capability to support our corporate clients considering expanding their operations into the Philippines by jointly conducting investment seminars and other collaberative activities.

(Profile of PEZA)

Name:                                      Philippine Economic Zone Authority

Year of Establishment：21 Februry 1995

Address :                     PEZA Building, Roxas Boulevard corner San Luis Street, Pasay City,

　　　　　　　　　　Philippines

Profile:                                     PEZA is a Philippine Government institution that is part of the Department of Trade and Industry. It is the contact point for foreign companies considering the investment in the Philippines, providing advice and receiving applications for investment approval. It also grants export-manufacturing companies operating in the Philippine economic zones tax exemptions and other  preferential treatments to attract foreign investment.