Japan to offer Myanmar ¥100bn in loans

TOKYO – Japan plans to offer ¥100 billion (US$995 million) in loans to Myanmar for infrastructure development, a Japanese government source said on Friday. It is the first such offer by Tokyo since the longtime opposition party led by Aung San Suu Kyi took office in March. Prime Minister Shinzo Abe plans to make the […]

China seeks ‘new chapter’ in first visit with Myanmar’s Suu Kyi

HONG KONG – China and Myanmar pledged to open a “new chapter” in their sometimes strained relationship, raising the prospect that stalled Chinese investment projects in the Southeastern Asian country could be allowed to resume. Aung San Suu Kyi, head of Myanmar’s ruling National League for Democracy and newly installed foreign minister, and her Chinese counterpart, […]

New Myanmar government brings challenges for Tokyo

With Wednesday’s installation of a new government in Myanmar that will effectively be led by pro-democracy icon Aung San Suu Kyi, the Southeast Asian nation has arrived at a crossroads in its relationship with Japan. After more than 50 years of military rule, Htin Kyaw, a key aide to Suu Kyi, took over the same […]

Infrastructure drive targets Myanmar / Japan firms promoting quality, technology

Japanese firms are increasingly conducting infrastructure development business in Myanmar, which has become a hot spot for the infrastructure export drive being promoted by the government and private sector. The development stems from Myanmar’s growing need to upgrade infrastructure like its electricity network to meet rapid economic growth since its transition to a democratic government […]

MPT may open more service shops

MPT is planning to open several more one-stop-service counters, providing service to customers including replacing lost SIMs, according to its deputy general manger U Thein Hote. The firm currently has one such counter at the Strand Road location of the Yangon General Post Office, a proprietary outlet opened by the company last November during a […]

Two Japan Banks First Foreign Banks to Open Myanmar Branches

Japan’s two top banks are set to open branches in Myanmar this week, becoming the first foreign banks to set up shop in the country: a place viewed by many as one of the “last frontiers.” Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corp. will open branches on Wednesday and Thursday in the center […]

First foreign banks in Myanmar herald possible sector shake-up

This week’s arrival of the first three foreign banks to be allowed to open branches in Myanmar has already signalled a possible shake-up of the banking sector, with Japan’s Sumitomo Mitsui Banking Corporation expressing interest yesterday in eventually acquiring a minority stake in Kanbawza (KBZ), Myanmar’s largest lender. Hiroshi Minoura, vice chair of SMBC, one […]

Myanmar to draft two new investment laws

Japan remains committed to Myanmar Japanese companies invested US$22.8 billion in Singapore, Thailand, Indonesia, Malaysia, the Philippines and Vietnam in 2013, according to the Japan External Trade Organisation (JETRO). The trend is strong, following the first wave of Japanese investment in the 1980s and 1990s, which helped build up automotive and electronics sectors in Thailand, […]