Japan to increase investments in Myanmar and boost trade: JCCM and UMFCCI agreement
2018-03-02 14:27:36 / Myanmar PPP
The government of Japan understands the geopolitical importance of Myanmar and that China is seeking to increase its leverage in this nation. Equally, in many areas of the economy of Myanmar, it is abundantly clear that Japan can assist this nation in terms of capital, investments, the utilization of high technology, and respective complementary factors. Therefore, an agreement between the Japan Chamber of Commerce and Industry Myanmar (JCCM) and the Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) bodes well for 2018 and the years to follow.
Prior to the agreement between JCCM and UMFCCI the level of Japanese investments in Myanmar is at a low base compared with what it should be. Hence, it is important that Japan and Myanmar focus on recent economic positives in order to build a strong relationship.
Areas of interest after Myanmar decided to open-up includes energy, industrial development, infrastructure projects, telecommunications, transportation, and other important areas. Not surprisingly, the attractiveness of investing in Myanmar means that foreign capital and business loans became extremely attractive after the political events of 2011.
Forbes reports, “Myanmar offered foreign investors relatively cheap labor, abundant agricultural resources, ideal locations for new ports, and a strategic position right at the meeting point of Southeast and South Asia, while foreign investors could provide Myanmar with much needed infrastructure — like roads, rail lines, bridges, ports — and, especially, electricity, which the country still has a severe deficit of.”
The president of JCCM, Katsuji Nakagawa, enthusiastically said, “Now our dream has come true. This MoU clearly states that we are eager to cooperate with Myanmar businesses for mutual benefits. We will discuss further details about our cooperation with UMFCCI in the near future.”
Japanese technical transfers will be targeted at the electricity sector and important infrastructural projects – and other areas that overlap with the needs of both nations. The Japanese ambassador to Myanmar, Tateshi Higuchi, reported that electricity infrastructure development, the urban development of Yangon, and transportation would gain from Japan’s promise of contributing 800 billion Japanese yen.
The ambassador said, “I strongly believe the year 2018 tends to be the light of dawn for Myanmar.”
Modern Tokyo Times reported last year, “Another important statistic is that Singapore even overtook China in terms of investment in the first half of 2017. Meanwhile, for Japan, roughly twenty companies will invest in the Thilawa Special Economic Zone. At the same time, three potent trading house from Japan are involved in other projects throughout the country. Therefore, Japan is boosting ties with Myanmar in areas that include agriculture, bio-resources, communications, information technology, investment, and trade.”
Investments by Japan in the Thilawa Special Economic Zone are a springboard to how public-private initiatives between Japan and Myanmar can boost this developing nation. Hence, while projects will vary, it shows how both nations can compliment each other by focusing on respective strengths and know-how. Therefore, with many powerful Japanese companies investing in Myanmar and the three main Japanese banks being involved, the future looks positive.
Credit: http://moderntokyotimes.com/japan-to-increase-investments-in-myanmar-and-boost-trade-jccm-and-umfcci-agreement/
More News
- FREE Registration for ATLife 2024 is available now!! Assistive Technology for Life / 2024-04-03 14:10:57
- Postponement Announcement: The 9th Cambodia International Textile & Garment Industry Exhibition (CTG) CTG / 2024-03-04 14:50:53
- Postponement Announcement: The 9th Cambodia International Machinery Industry Fair (CIMIF) CIMIF / 2024-03-04 14:43:08
- A Whole New Business Platform for Thailand's PCB and Electronics Manufacturing Chain, Intelligent Asia Thailand Thailand PCB and Electronics Manufacturing Exhibition / 2024-02-29 11:18:22
- VTG is ahead, successfully addressing industry bottlenecks in textile transformation VTG - Vietnam Int'l Textile & Garment Industry Exhibition / 2024-01-16 10:15:19
- ANEX 2024: Register and Reserve Your Booth Now! Asia Nonwovens Exhibition And Conference / 2023-12-28 13:38:44
- TNFIA joined the 2023 Taiwan-Thailand Industrial Summit in Bangkok, introducing ANEX2024 to the Southeast Asian market Asia Nonwovens Exhibition And Conference / 2023-12-28 13:38:36
- Heading to the ANFA Conference in Hong Kong Asia Nonwovens Exhibition And Conference / 2023-12-28 13:38:28
- TNFIA President Jian was interviewed by Japan Nonwoven Reports, sharing Taiwan's experience and promoting ANEX2024. Asia Nonwovens Exhibition And Conference / 2023-12-28 13:38:20
- Highlights of the Successful Conclusion of VietnamPlas 2023 Vietnam Plas (HCM) / 2023-12-07 15:59:11
- VietnamWood's Digital Path to Woodworking Excellence VIETNAMWOOD / 2023-11-08 18:19:34
- Apply your visit to Taiwan International Food Industry Show 2023 Taiwan Int'l Food Industry Show / 2023-10-27 11:45:13
- Apply your visit to 2023 Taiwan Wine & Spirits Festival Taipei Int'l Wine & Spirit Festival / 2023-10-27 11:38:49
- Apply your visit to Taiwan International Tea Expo 2023 Taiwan Int'l Tea Expo / 2023-10-27 11:35:03
- Apply your visit to Taiwan International Coffee Show 2023 Taiwan Int'l Coffee Show / 2023-10-27 11:30:06
- Booth registration for ATLife 2024 opens now! Assistive Technology for Life / 2023-10-24 16:07:50
- 【VietnamWood 2023】Profession and Entertainment ALL in ONE VIETNAMWOOD / 2023-09-23 11:02:52
- 【VietnamWood 2023】 Has a successful start VIETNAMWOOD / 2023-09-22 09:58:41
- 【VietnamWood 2023】Highly reputed by exhibitors VIETNAMWOOD / 2023-09-22 09:56:16
- Smart Wood Manufacturing by VietnamWood 2023 at SECC on 9/20-23 VIETNAMWOOD / 2023-09-20 16:00:38