24 October 2017
Myanmar-Japan CCI Business Cooperation Committees was held its 13th joint meeting in Yangon on Monday, with the attendance of Union Minister for Planning and Finance U Kyaw Win.
The meeting is intended to increase the trade and business cooperation between Myanmar and Japan by solving challenges and difficulties.
As the Japanese Investment in Myanmar is still weak, the meeting hopes to raise it up, the UMFCCI Vice Chairman pointed out. At present, most of the Japanese investments are in manufacturing sector.
Vice Chairman, UMFCCI, Dr. Maung Maung Lay said “The difficulties and challenges are solved at the meeting. As the engagement between us is still weak, the Japanese investment is less especially compared with the neighboring countries.”
Myanmar business leaders suggested Japanese investments to be in sea food processing and agribusiness sector.
More foreign investment is needed for the development of agribusiness sector which is dealing with 70% of the country population.
At present, FDI in that sector is less than 0.5%, according to the Joint Secretary General of Myanmar Rice Federation.
Joint Secretary General, Myanmar Rice Federation, Dr. Soe Tun said “Japan is the country which has developed in agriculture sector. So, their investment could contribute to the development of our agriculture sector.”
As of September, over 717 million USD of Japanese investment in 96 businesses have been approved according to the Ministry of Planning and Finance.