OREANDA-NEWS. The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) is pleased to announce that BTMU and Banco de Tokyo-Mitsubishi UFJ Brasil S/A, BTMU's wholly owned subsidiary in the Federative Republic of Brazil (Brazil), have signed a Memorandum of Understanding (MOU) with both Instituto de Desenvolvimento Integrado de Minas Gerais (INDI) and Agencia de Desenvolvimento Economico de Pernambuco (AD Diper) recently. With the signing of these agreements, BTMU will closely collaborate with both INDI and AD Diper by organizing joint events in order to provide information and assistance to Japanese corporate clients interested in investing in Brazil or forging business collaborations with local companies.

INDI was established in 1968, by the government of the state of Minas Gerais with the objective of attracting investments to the state and driving the competitiveness of the state's economy. The state of Minas Gerais is located in the South-West region of the country. It is the 3rd largest state in terms of GDP, and 2nd largest in population. The state achieved economic development after the 17th century mainly through the mining industry, including gold. Thereafter, it continued its development through the coffee industry, mainly in the Southern Mountainous region, and was one of the first states to achieve industrialization.

AD Diper was established in 1960 by the government of the state of Pernambuco with the objective of attracting investments to the state and driving the competitiveness of the state's economy. The state of Pernambuco is located in the North-East region of the country which has experienced significant economic growth in the recent years, and it is the 10th largest state in terms of GDP and 7th largest in population. In addition to the traditional sugar and tourism industry, the state achieved rapid industrialization through massive investment promoted by the state after 2007.

Following the MOU with Banco Nacional de Desenvolvimento Econonico e Social (BNDES) and the Investment Agency of Sao Paulo State (Investe Sao Paulo), BTMU's two MOUs with INDI and AD Diper will provide for an enhanced range of financial services to meet the diverse needs of BTMU's valued customers in Brazil.