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Japan is eyeing export-oriented businesses in Myanmar

Japanese companies are becoming interested in the local industry which will manufacture products in Myanmar and export them to India, China and Thailand, said Japanese Ambassador to Myanmar Mr. Ichiro Maruyama, at Japan-Myanmar Resource, Trade and Investment Expo 2019 at Inya Lake Hotel in Yangon on October 19.

“There are many Japanese companies which are very interested in the local market as Myanmar has many populations. Myanmar borders Thailand, India and China. That’s why, many Japanese companies are interested in exporting Myanmar-made products to neighbouring countries,” Mr. Ichiro Maruyama said.

“Japanese companies are also interested to import raw materials from neighbouring countries and produce the products using these raw materials. Then, they want to sell these products in the local market,” he added.

From 1988-89 FY till September 30, 2019, Japan’s total investments in 117 businesses exceeded 1.2 billion US dollars, according to the figures from the Directorate of Investment and Company Administration (DICA).

In addition, the total investments by 39 businesses in Thilawa Special Economic Zone, allowed under the Special Economic Zone Law, exceeded 670 million US dollars.

Till now, Japan’s total investments in 150 businesses hit around 1.9 billion US dollars.

Japan stands in 10th place on the list of 50 countries which have made investments in Myanmar. Japan tops the list of FDI in Thilawa Special Economic Zone, accounting for 36 per cent of total investments.

The total FDI by 19 countries in Thilawa Special Economic Zone reached over 1.86 billion US dollars, according to the DICA.

Source: Eleven Media Group

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