Japan Reassures Commitment to Boost Myanmar’s Infra Dev’t

The Japanese government has reassured its commitment to help develop the infrastructure of Myanmar to attract foreign direct investments in the country.

“We will continue to contribute to Myanmar’s infrastructure development with Japan’s wealth of experiences, technologies, and know-how of quality infrastructure,” Japanese Embassy councilor in Myanmar Kazuyuki Takimi said during the “Dialogue for Quality Infrastructure — Building Asia’s Future,” hosted recently by the Japanese government.

Members of the private sector also participated in the event attended by around a hundred people and moderated by Nikkei’s columnist Yasuhiko Ota.

The Southeast Asian nation has been trying to support private companies to enter their market by making new laws and systems.

Takimi said Japan will assist the developing country like how it did with the Baluchaung No. 2 hydropower plant and Thilawa SEZ projects.

“Quality infrastructure development is important for encouraging foreign direct investment to Myanmar,” stressed Aung Naing Oo, director general of Myanmar’s Ministry of Finance and Planning’s Directorate of Investment and Company Administration.

The Myanmar official also noted that attracting private foreign investment is essential in developing and maintaining infrastructure in the country.

Satoshi Takesada, Senior Manager of Price Waterhouse Coopers Singapore, set the event’s agenda with a presentation on “Important Points for Sustainable Economic Growth in Myanmar.” Stressing the importance of a long-term perspective, Takesada highlighted the important role of quality infrastructure in encouraging foreign direct investments, which lead to sustainable economic growth in Myanmar.

Japan’s Trade and Economic Bureau, Trade Promotion Division director Takeshi Nakano, meanwhile, said Japanese quality infrastructure can provide many benefits to the country, such as reliable operations, economic efficiency in view of life-cycle cost, safety, resilience against natural disasters, job creation, capacity building, and transfer of expertise for local communities.

Nakano said the key to success is employment generation through private-sector investment and human resource development.

He added Japan will promote investments that improve Myanmar citizens’ standard of living with the cooperation of the Myanmar government and the private sectors of both countries.

Parami Energy Group chief executive officer Ken Tun pointed out Myanmar should consider the economic benefits of quality infrastructure, although the initial cost might be high.

Mitsubishi Corp. chief representative for Myanmar Mitsuo Ido also said that securing sustainable resources is important in deciding on their investments. The necessary resources, Ido cited, include clean water, electricity, and transportation. He said the Thilawa SEZ project was a good example of supporting foreign investors in the country.

Tokyo Gas Co., Ltd. also intends to install LNG infrastructure in Myanmar, the firm’s executive officer and Tokyo Gas Asia’s managing director, Nobuhisa Kobayashi, disclosed during the program.

 

Source: Philippine Canadian Inquirer

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