Japanese investment in Myanmar slows down: minister

Zayar Nyein
The 13th Joint Meeting of Myanmar-Japan Business Cooperation Committees held in Yangon. (Photo- Zayar Nyein)

The Japanese investment flow into Myanmar has slightly slowed down after fiscal year 2015-16, says Union Minister for planning and finance Kyaw Win.

He made his comments at the 13th Joint Meeting of Myanmar-Japan Business Cooperation Committee which was held on Monday in Yangon.

The union minister urged more cooperation to accelerate Japanese investment flow into the country.

“According to official FDI figures after fiscal year 2015-16, Japanese investments in Myanmar slightly slowed down. We always care about our relationship with Japan. We expect this meeting will bring good results from representatives from both countries for boosting Japanese investments in the country,” said the minister.

Japan made direct investments worth more than US$717 million in 96 industries until the end of September this year, added the minister.

China remains the biggest foreign investor in Myanmar, followed by Singapore and Thailand, according to official data.

“One of the biggest challenges for Myanmar is infrastructure such as port, roads and bridges, and electricity. We are working with Japan International Cooperation Agency for infrastructural development,” said the minister.