Jan 17, 2012

Japan and Myanmar sign business deals

Japan has signed MoUs with Myanmar involving investments in renewable energy and environmental conservation during talks last week, according to the state-run newspaper New Light of Myanmar. Officials of the Japan International Cooperation Agency, Japan External Trade Organization (JETRO) and Japan Overseas Development Corporation (JODC) met with Burmese officials to discuss investment deals in the giant special economic zone. No agreements were signed. “They came for inquiry,” said a Burmese official. “Some people thought that we signed agreements…that’s not true. Japan is not fast like that.” The MoUs involved investment cooperation between the Directorate of Investment and Companies Administration and JETRO-Yangon (Rangoon) and Myanmar Rural Area Energy Development Committee and Japan’s New Energy and Industrial Technology Development Organization ( NEDO). Japan’s NEDO will cooperate with the Myanmar Rural Area Energy Development Committee in operating a renewable energy project and conducting training workshops on renewable energy and environmental conservation, according to reports. On January 11, Myanmar’s Electric Power 2 Minister Khin Maung Soe and NEDO discussed details on how to cooperate in the projects. NEDO said that Myanmar’s electricity consumption is three times higher now than 20 years ago. The Burmese government has a plan to get 15 to 20 percent of its electricity from renewable energy by 2020, according to NEDO. Presently, NEDO is digging water well for rural areas in Bagan and Nyaung Oo Township in Mandalay Region. Japan’s Official Development Assistance (ODA), which promotes human resources, training courses on wind turbine, small-scale hydroelectric power and solar energy, will undertake various training projects, Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) General-Secretary Myint Soe told Mizzima. JETRO is producing car accessories in Myanmar and is involved in food, agricultural and clothing businesses in Burma. Minister Edano met with Burmese President Thein Sein and Burmese pro-democracy leader Aung San Suu Kyi during his four-day trip last week. Source: Mizzima


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