October 12, 2023

BDO Network Bank, Shizuoka Bank Sign MoU to Empower OFWs in Japan

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  • BDO Network Bank, Shizuoka Bank Sign MoU to Empower OFWs in Japan
  • Banco De Oro (BDO) Network Bank and Shizuoka Bank Ltd (SB) have signed a Memorandum of Understanding (MoU) to empower Overseas Filipino Workers (OFWs) in Shizuoka Prefecture, Japan.

    IMAGE from Philippine Primer

    BDO Network Bank SVP and Head of Micro, Small, and Medium Enterprise Business Karen Cua and SB Director and Senior Managing Executive Officer Yutaka Fukushima have signed a MoU for the partnership on Wednesday, October 11, 2023, at the BDO Towers in Makati. This partnership promises to provide OFWs in Shizuoka with improved access to financial services and resources, empowering them as they work and live abroad. It’s a testament to their commitment to support and uplift the Filipino community in the prefecture and signifies a significant step forward in catering to the needs of OFWs in Japan. “We’re very happy and excited for this partnership, and would like to extend our support to our people and [the Japanese] in promoting our countries’ economies,” furthered Cua in her speech.

    OFWs are in high demand in Japan due to labor shortages in various industries. Japan’s aging population and declining birth rates have created a pressing need for skilled and unskilled labor, particularly in healthcare, agriculture, and manufacturing.

    IMAGE from Philippine Primer

    Shizuoka has a strong manufacturing sector, specializing in machinery, automotive parts, and electronics. It is also famous for its green tea, often considered among the finest in Japan, as well as a thriving fishing industry that supplies fresh and frozen seafood to markets both domestically and internationally. Lastly, Shizuoka’s tourist attractions, including the iconic Mount Fuji, attracts countless visitors from around the world every year.

    In 2016, BDO Unibank has partnered with SB to service the latter’s clients operating in the Philippines.

    Also read: BDO We Find Ways

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