Japan’s largest bank, MUFG Bank, will open its first Global Services Operations Center (GSOC) in Metro Manila. MUFG Bank’s GSOC aims to improve the productivity and efficiency of the bank’s overseas operations and will initially provide foreign remittance and back-office operations for its units in Singapore, Sydney, Auckland and Taipei, according to a statement from the bank. Initially, the center will be manned by 80 personnel and is planned to start operations this August. During the launching ceremony, Japanese Ambassador to the Philippines Koji Haneda said MUFG’s decision to open the GSOC in the Philippines is a good choice of location given the role of the Philippines in the global BPO industry. He also said that he believed that the outsourcing industry in the country is still a sunshine industry that will continue to drive the economic growth of the country.