Japan-based Megumi No Sato will
join hands with Myanmar's City Mart Holding Company, to produce and sell
vegetables and fruits, according to a company announcement.
Megumi No Sato is a popular company back
in Japan and is part of the G-7 Group which specialises in selling
quality vegetables from select farmers. The Myanmar Investment
Commission (MIC) has granted a joint-venture permission to City Mart
Holding according to the Citizen Investment Law.
The company will carry out cultivation of vegetables and fruits in Pyin Oo Lwin Township of Mandalay region, central Myanmar.
Megumi No Sato Company is now
cultivating and selling agricultural products in Japan and it also
provides support to farmers to create stable incomes for supplying fresh
vegetable at a reasonable prices.
The Japanese government is eyeing to
invest in production and selling of vegetables and fruits in Myanmar.
This is the first Japanese private joint-partnership with a Myanmar
company.
The MIC granted permissions to five
other foreign investment enterprises and one citizen investment during a
meeting held on August 21 this year.
source: Eleven Myanmar
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