Mizuho to Partner With Myanmar Conglomerate

TOKYO — Mizuho Bank will team up with a major conglomerate in Myanmar with an eye toward further helping Japanese companies make inroads there.

Max Myanmar Holdings is involved in a wide range of industries, with particular strengths in construction, energy and agriculture. Myanmar’s government has placed an emphasis on these sectors in the interest of economic development.

The Mizuho Financial Group unit is expected to reach a preliminary agreement on a business alliance with Max Myanmar as early as Tuesday. In addition to introducing Japanese enterprises interested in expanding into Myanmar, Mizuho Bank would provide local economic data from the conglomerate.

The Thilawa industrial park opened on the outskirts of Yangon last year. With the U.S. lifting economic sanctions in October, corporate tie-ups and investments between Japan and Myanmar are expected to accelerate.

Mizuho Bank, which opened a Yangon office in August 2015, has already joined forces with such local partners as Ayeyarwady Bank. The Max Myanmar partnership is seen as a way to provide even more fine-tuned support to Japanese businesses.

 

Source: Nikkei Asian Review

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