Japanese investments are expected increase significantly in Myanmar’s manufacturing, transport and information technology sectors, according to the Directorate of Investment and Company Administration (DICA).
An official from DICA said there is an influx of Japanese businessmen visiting their office for information to open branch offices and to make investments in Myanmar.
Among them include machinery-manufacturer Kubota Corp, industrial and engineering corporation Hitachi Zozen, transport companies Nippon Express and Toyo Logistics.
Meanwhile, Japanese automakers Toyota, Nissan, Honda, Suzuki and Mitsubishi have opened service centres in Myanmar.
Among them, Nissan is soon to open its first car showroom in the country’s commercial city Yangon.
Japanese IT firms NTT Group, KDDI Corp and NEC Corp are also planning to invest in Myanmar, market observers said.
On the other hand, Myanmar needs to ensure steady and affordable electricity supply and improve transportation and information infrastructures to boost the investments and the economy, Japanese businessmen said.
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