The three companies, as Japanese marketing agents of MJTD, will start the sale of leasehold rights for the Class A Area (50 years + 25 years as optional) in stages from May 19, 2014. Any of the three companies may be contacted for details on these lots, such as the available lot size, rent and other conditions.
The Class A Area is located approximately 20 km southeast of the capital Yangon, and offers various incentives as a special economic zone. This is a key location, not only for export processing bases, but also for production bases targeting domestic demand. The three companies will provide high levels of infrastructure and utility services by applying the extensive know-how they have developed in the industrial park business in ASEAN countries. Attracting Japanese and other foreign investment to the Class A Area will also contribute to job creation and the economic development of Myanmar.
In addition, on April 23 this year, the Japan International Cooperation Agency (JICA) signed a joint venture agreement for MJTD, making the development of Thilawa Class A the first public-private partnership business between Japan and Myanmar. The Japanese government has committed to infrastructure development around the Class A Area (such as power generation, port facilities, etc.) through yen loans, and JICA is already receiving support as the executing agency. The public and private sectors of Japan and Myanmar will further collaborate and develop the Class A Area through the participation of JICA.
Company Outlines
1. Mitsubishi Corporation
(1) Headquarters : 2-3-1 Marunouchi, Chiyoda-ku, Tokyo, 100-8086 Japan
(2) Business Activities :
Mitsubishi Corporation has seven Business Groups which develop operations in the diverse fields of Global Environmental & Infrastructure; Industrial Finance, Logistics & Development; Energy; Metals; Machinery; Chemicals; and Living Essentials. In addition to these Business Groups, MC has also recently established its Business Service Group. Through these business groups, Mitsubishi Corporation serves customers around the world in virtually every industry.
(3) Representative : Ken Kobayashi, President and CEO
(4) Founded : April 1, 1950
(5) No. of Employees : 65,975 (consolidated, as of March 31, 2013)
2. Marubeni Corporation
(1) Headquarters : 1-4-2 Otemachi, Chiyoda-ku, Tokyo, 100-8088 Japan
(2) Business Activities :
Through its local and international network, Marubeni Corporation provides products and services in a broad range of sectors, encompassing import and export as well as transactions in the Japanese market, related to food materials, food products, textiles, materials, pulp and paper, chemicals, energy, metals, machinery, finance logistics, information technology, infrastructure development and a range of other fields, including resources development and investments on a global level.
(3) Representative : Fumiya Kokubu, President and CEO, Director
(4) Founded : December 1, 1949
source: Market Watch
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