A business delegation from Japan arrived in Nay Pyi Taw on September 17 to discuss investment in Myanmar’s property and construction industries with officials from the Directorate of Investment and Company Administration (DICA).
The delegation was led by Mr. Shin
Hnoto, deputy director of Japan’s Ministry of Land, Infrastructure,
Transport, and Tourism (MLIT).
During a visit in August, the minister
had said that Japan would invest more in Myanmar’s transportation sector
and hospitality industry.
Japan is the main investor in the
Thilawa Special Economic Zone, which includes factories, high-tech,
textiles, labor intensive and manufacturing industries. Nine Myanmar
public companies and a Japanese consortium (comprised of Mitsubishi
Corp., Marubeni Corp. and Sumitomo Corp) are engaged in the zone
development. On May 25, an agreement was signed between U Win Aung,
chairman of the Union of Myanmar Federation of Chambers of Commerce and
Industry (UMFCCI), and an official of Mitsubishi Corp. The signing was
witnessed by Japanese Prime Minister Shinzo Abe.
Japanese companies have also shown
interest in the Dawei Special Economic Zone, which includes proposed
infrastructure projects such as a deep-sea port, a Myanmar-Thai highway,
power plants, a dam, and residential housing.
Japan is the top investor in Myanmar’s
manufacturing sector so far, and more Japanese companies are closely
looking at opportunities to invest in other industries.
source: Eleven Myanmar
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