Japan’s Mizuho Bank has received approval from Myanmar’s regulatory authorities to open a front office in the Thilawa special economic zone.
The office will be the lender’s second in Myanmar, following the launch of Yangon branch in August 2015, which provides banking services such as deposits, loans, domestic and foreign exchange, and e-banking.
The bank aims to open the new office within fiscal year 2015.
The Japanese bank said that through the second office it aims to support Japanese companies starting and strengthening operations in the zone.
The Thilawa SEZ is located 23 km south of the center of Yangon, the largest city in Myanmar. It is the first large scale industrial complex in Myanmar to satisfy international standards, and both the Japanese and Myanmar governments have played a leading role in its development.