Japan will soon provide loans to
Myanmar to prepare preliminary tasks for the basic infrastructures in
line with suggestions coming from top Japanese companies’ discussion
about the needs for strengthening of infrastructures.
The suggestions came from the gathering
of the Myanmar-Japan Business Forum attended by more than 100 Japanese
companies and Keidanren, the largest business group based in Tokyo,
focusing on requirements for foreign investment to be made in Myanmar.
Keidanren-led Japanese businessmen
pointed out that Myanmar needs electric power development of reasonable
price and stable. It is required to improve the country’s
infrastructures such as main roads, ports, transport networks,
communications and information links, and to explore natural gas.
An official from Keidanren said that the
country needs nurturing skilled workers and experts for industrial
development; effective Japanese aids will be provided for human
resources development, in fact.
One of the investing countries in
Thilawa Special Economic Zone project, Japan has pledged to grant loans
to build infrastructures outside the project such as power plants,
ports, roads and bridges with interest rate of 0.01 percent for 40 years
with Government to Government (G to G) system, in case of Myanmar’s
inadequate finance for the construction.
Keidanren group also said that Japan has
invested in garment and consumer products industries at a cost of
US$43.6 million. According to the statistics of the foreign investment
in Myanmar, Japan invested US$259.860 million until the end of December
2012, standing at the 11th position.
The largest automobile companies in
Japan - Itochu Enex Co;Ltd and Auto Server Co; Ltd which is online
vehicle trading, are still holding discussions to invest in vehicle
trading in Myanmar.
Moreover, Japanese top companies such as
Toyota, Nissan, and Honda are also under preparation to build
automobile assembly factories in Myanmar.
After approving the Foreign Investment
Law and by-laws in Myanmar, Japan companies are more than 100 in total
to discuss investment matters with Myanmar for the first time.
source: Eleven Myanmar
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