Japanese multinational Hitachi aims to employ more than 1000 local people in the country within five years, according to its president Toshiaki Higashihara.
Speaking in Nay Pyi Taw yesterday, Mr Higashihara said the firm is looking to expand in sectors in Myanmar like telecoms, railway systems and electricity.
“We will use local people and we will share technology for use of Myanmar people,” he said.
The firm opened a Yangon branch office in 2012, though has been doing business with the country for a longer period. Mr Higashihara also met with President U Thein Sein during his visit to Myanmar.
Myanmar is an attractive market for the firm as its development is increasing, and it is in need of technology and infrastructure. Currently, the firm is looking at opportunities for gas turbines in Thilawa special economic zone, as well as jointly working with Mitsubishi on a US$20 million railway signaling system for the Yangon to Mandalay line, according to Tsunehiro Takahashi, Hitachi’s Yangon-based general manager.
Hitachi has invested in Myanmar since 1958, when it invested in a hydropower project on the Balu Chaung river, he said.
“Now we have signed an agreement to set a railway signaling system with JICA financing,” he said.
The system it is installing is already in use in Japan, and will improve the Myanmar system after it is installed. It provides much more control over rail lines, also making it easier to use the railway, he said.
Source: Myanmar Times