- Japanese Prime Minister attends Myanmar-Japan Economic Forum
- ACE Group to open representative office in Yangon
- EU not allows Chinese grasshoppers exploiting GSP for Myanmar
- Service centre for BMW cars to be opened in Yangon
- Sumitomo, NEC, NTT to build telecom network in Myanmar
- Italian-Thai’s hydropower project in lower Myanmar allegedly stops
- Swiss Upper House Speaker paves the way for Swiss investments in Myanmar
- Myanmar spends US$300m annually for palm oil imports
- First Central Cooperatives Business Center to be opened in June
- Wood, finished-wood products export gets exemption from custom check
Japan’s rush to Myanmar continues, investment agency says
Published on Tuesday, 22 January 2013 20:02
Japanese companies are continuing their rush to Myanmar, primarily for contracts to build infrastructure or to open shop in special economic zones, according to the Directorate of Investment and Company Administration.
DICA said senior executives from five more Japanese companies paid visits to its office in the capital last week. Their executives were from Oshimaya Co., Marubeni Corp., ASMO Co. Ltd, JFE Engineering Corp. and METACC Manufacturing Ltd, DICA said.
Marubeni plans to build an electricity power plant in Thilawa special economic zone while ASMO discussed building an auto parts plant, the agency said.
Oshimaya, JFE and METACC discussed textile, manufacturing, and iron and steel plant projects respectively, DICA said. Japanese investment is not restricted to Thilawa economic zone, the agency said, saying companies were also interested in Dawei special economic zone.
Japan has also agreed to provide soft loans to Myanmar. Economists expected Japan to be among the top five cumulative investors in Myanmar by 2015 and that it will eventually surpass China to become the country’s largest investor.