Japanese investments are expected increase significantly in Myanmar’s manufacturing, transport and information technology sectors, according to the Directorate of Investment and Company Administration (DICA).
An official from DICA said there is an
influx of Japanese businessmen visiting their office for information to
open branch offices and to make investments in Myanmar.
Among them include
machinery-manufacturer Kubota Corp, industrial and engineering
corporation Hitachi Zozen, transport companies Nippon Express and Toyo
Logistics.
Meanwhile, Japanese automakers Toyota, Nissan, Honda, Suzuki and Mitsubishi have opened service centres in Myanmar.
Among them, Nissan is soon to open its first car showroom in the country’s commercial city Yangon.
Japanese IT firms NTT Group, KDDI Corp and NEC Corp are also planning to invest in Myanmar, market observers said.
On the other hand, Myanmar needs to
ensure steady and affordable electricity supply and improve
transportation and information infrastructures to boost the investments
and the economy, Japanese businessmen said.
Japan has invested over US$65 million in
Myanmar within the last two years. Its total investments reached
$270.28 million at the end of June.
Last February, an executive from
Japanese largest economic organization Keidanren said at the bilateral
business conference in Yangon that Japanese investments in Myanmar’s
garment and consumer goods industries amount $43.6 million.
Japan is also developing the Thilawa
Special Economic Zone in Thanhlyn-Kyauktan area of suburban Yangon. The
multi-million project includes building a seaport, roads and other
infrastructural development programs.
Japanese government has earlier pledged to offer Myanmar 0.01 percent interest loans on 40-year term for the Thilawa project.
source: Eleven Myanmar
No comments:
Post a Comment