The ALA has already opened branches in 12 cities in nine Asian countries. The organisation assists small- and medium-sized companies, helping them cooperate on various common issues in order to encourage growth and expansion in Japan, Asia and the global economy.
As well as announcing the new branch, Chair Hideo Sawada said the ALA has talked to the Myanmar Investment Commission about doing business in the Thilawa Special Economic Zone (SEZ) and other areas, though he added that lack of infrastructure in some areas remain a barrier.
Myanmar doesn’t yet offer necessary infrastructure such as the electricity and rules and regulation that allow smooth financial transitions, Mr Sawada said.
“However, this is essential for us. We have to transfer money and levy taxes through the banks,” he said.
“We have high quality services and much capital. That means we are ready to invest here and to bring benefits after these two main things are made perfect soon,” he added.
Mr Sawada said the ALA would help bring new businesses to Myanmar from various industries, including manufacturing, services, hotels and tourism and media.
“Some members have planned to move their factories to Myanmar from other countries in the region like China,” he said.
According to the Directorate of Investment and Company Administration (DICA), Japan has invested nearly US$300 million in Myanmar, much of which has gone into the garment sector.
source: The Myanmar Times
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