Tokyo supports ASEAN in creating credit guarantee systems
(VOVworld) - Japan will support Southeast Asian nations in creating mechanisms by which governments can effectively guarantee loans, making it easier for smaller companies to round up funding for expansion into those markets.
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| Tokyo supports ASEAN in creating credit guarantee systems (Photo: Reuters) |
In the first phase, Japan will help create an ASEAN-wide database of small and midsize companies' financial and other information. Easy access to that data will let credit guarantee associations and financial institutions more objectively assess companies' creditworthiness. Japan will also send experts to ASEAN countries to create research groups and otherwise lay the foundations for the systems, to be introduced over several years.
After the Trans-Pacific Partnership agreement was reached in October, Japanese Ministry of Economy, Trade and Industry built policies to support its small and medium sized enterprises to boost investment and business in foreign countries. ASEAN markets are attractive destination for Japanese investors.