The Japan-based Mitsubishi Materials Corporation and Nippon Koei companies are discussing plans to invest in Myanmar according to official reports.
Executives from the two companies were meeting officials from Myanmar’s Directorate of Investment and Companies Administration (DICA) who reported discussing matters relating to the rules and regulations of foreign investment.
Mitsubishi Materials Corporation is manufacturing and selling vehicles, spare parts, electronic devices, construction materials and metallic devices.
Mitsubishi Motor Company is planning to open service centres in joint venture with First Myanmar Investment Company Limited-FMI and Yoma Strategic Holdings Limited-YSH in major cities such as Yangon, Mandalay and Nay Pyi Taw.
Nippon Koei firm is a top engineering consultant group in Japan and operates seven business across 135 countries. The DICA has held discussions with officials from Japan, Singapore, South Korea, the US and Cambodia including Sun Pharmar Industries of Indian Pharmacy Company last month on issues regarding investment.
Japan has invested trade volume over US$270.283 million in Myanmar this year so far, and stands in 11th position among other foreign countries.
Source: Eleven Media