The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and the Japan Chamber of Commerce and Industry (JCCI) organized the 15th joint meeting of Myanmar-Japan Business Cooperation Committees on 14 November at the UMFCCI office.
About 20 Japanese businesspersons in heavy industry, aviation, technology, legal consultation, education and services, and energy attended the meeting.
During the meeting, experts from Myanmar discussed cooperating in the country’s tourism and human resource development businesses.
“The UMFCCI and JCCI have been collaborating for over 20 years now. The meetings were alternatively held in both countries, and the 15th joint meeting was convened in Myanmar this year. The meeting outcomes between the two countries have shown improvement in investment,” said U Zaw Min Win, President of the UMFCCI.
“Myanmar and Japan have close relations and the two countries prioritize mutual trust,” said U Zaw Min Win.
“At present, Myanmar government has been focusing on economic growth and I hope this joint meeting will help deal with the possible investment obstacles and support investment promotion,” said Mr Ichiro Maruyama, Ambassador Extraordinary and Plenipotentiary of Japan to the Republic of the Union of Myanmar.
“As per the messages sent by Prime Minister Shinzo Abe, Myanmar government is focusing on economic reform. I wish the private sectors from the two countries discuss foreign investment difficulties in the meeting. So, we can report the meeting outcomes to the governments. They will continue to work on this after government-to-government discussions,” he said.
At present, Japan is ranked 10th among 50 countries with a large share of investment in Myanmar. Between 1988 and 30 September this year, 117 Japan-listed enterprises have been permitted to bring investments of US$1.2 billion into the country, according to statistics released by the Directorate of Investment and Company Administration.
Foreign investments of over $670 million have flowed into the Special Economic Zones (SEZs) from 39 Japan businesses, under the Special Economic Zone Law.
By Nyein Nyein (Translated by Ei Myat Mon)