Thai firms join 24 foreign firms at Yangon business matching event

Two Thai firms joined a business-matching event in Yangon last week, which was attended by 24 Japanese corporations and 13 Myanmar companies. The aim was to introduce business partners to customers in response to their requirements and business strategies.

These firms represented diverse industries – from food and restaurants, daily-use products and consumer equipment to publishing and media, chemical products and construction-related materials.

Bank of Tokyo Mitsubishi UFJ, the organiser, was able to arrange close to 100 meetings.

“This is our first business-matching event in Yangon. We are very happy with such a great response,” said Makoto Kobayashi, managing executive officer and head of the financial solutions group.

“Increasingly, we see a lot of investment activities being actively pursued in the Mekong region. Many Thai companies are keen to pursue partnership deals with Japanese and Myanmar corporations.”

Myanmar is receiving much attention from the Japanese business community.

BTMU is the first foreign bank to open a branch in the country.

Last month it also hosted a business seminar attended by more than 1,000 participants. Kobayashi was upbeat about the bright prospects for the bank, which hopes to put its project financing expertise to good use.

Power, communications networks, road and port services, and water supply are its targets. Myanmar has very high potential for becoming an attractive destination for foreign direct investment, he added.

Mitsuhiro Kimura, general manager of BTMU’s Yangon branch, said the major challenges that foreign banks in Myanmar are facing include the lack of a settlement remittance system to ensure a more efficient way of payments as well as the need to build a more vibrant interbank market.

Source: Eleven

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