Jun 9, 2012

Mitsui eager to diversify Myanmar businesses

Mitsui & Co. President Masami Iijima has expressed the company's eagerness to diversify its operations in Myanmar.
"In Myanmar, there is room for doing business in a wide array of industries, including foodstuffs like beans and shrimp; social infrastructure such as power plants, ports and water supply; and industries including textiles," Iijima said in an interview with reporters in Myanmar's capital.
He said exports of rice and sugar produced in the country can begin right away, unveiling the firm's plans to ship Myanmar's rice to Singapore on a trial basis in the near future.
Rice can be used as a raw material for various products such as confectionery and thus represents a good example of diversification in trading, he said.
Iijima said exports are a useful tool for the country to earn foreign currency, adding that Mitsui will promote exports of Myanmar's products, including timber.
While betting on Myanmar's growth potential, Iijima said there are "a host of challenges" that have to be resolved. He specifically noted that Myanmar has to improve basic infrastructure and establish a legal framework to facilitate foreign investment in the country.

Source: Daily Yomiuri Online