IIDA Electronics Ltd. from Japan has been granted permission from the Myanmar Investment Commission (MIC) on February 13 to manufacture and sell electronic equipment in Myanmar.
The company will set up a factory in Mingaladon Industrial Zone, in Yangon. IIDA was established in 1965 and has an initial investment of more than Yen 300 million. The company is headquartered in Tokyo, Japan.
Japan is currently standing at 10th place in the list of top foreign investors to Myanmar and has invested more than US$ 320 million in the country. China is currently top of the list, with Thailand second in total investment.
According to statics from Directorate of Investment and Companies Administration, foreign investment in Myanmar has reached more than US$ 45 billion at the end of January this year.
Source: ELEVEN Myanmar