September 23, 2017
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Japan steps up economic cooperation with Myanmar

Japan has been stepping up economic cooperation with Myanmar in light of the country's continuous reform process.

For the past three months, such cooperation and engagement covered a wide range of sectors.

In June, the Japan International Cooperation Agency (JICA) provided a loan of 51.05 billion yens' Official Development Assistance (ODA) to Myanmar, of which 17 billion yen was to be used for construction and renovation of infrastructure to reduce poverty in regions and states of the Southeast Asian nation, while 20 billion yen for development of infrastructure in Thilawa Special Economic Zone and 14.05 billion yen for upgrading power grid project and power stations in Yangon.

More loan was offered for the scholarship program for Myanmar's human resources development and upgrading of Yangon's water supply system which were expected to run under another 40 billion yens' grant aid and technical assistance.

Meanwhile, nine Myanmar public companies and a consortium of three Japanese firms comprising Mitsubishi, Marubeni and Sumitomo agreed on the development of Myanmar's Thilawa SEZ.

Also in June, the Nippon Foundation of Japan also agreed with Myanmar's Ministry of Border Affairs to run a five-year program of training Myanmar staff to be highly capable starting this year.

To promote human resources development in the country, a Myanmar-Japan Center was opened with Japanese experts giving training to Myanmar government officials and employees from industrial and economic sectors.

Myanmar and Japan also vowed to cooperate in combating tuberculosis (TB), HIV and malaria.

In the trade sector, Myanmar and Japan had a total trade volume of 1.50 billion U.S. dollars in the fiscal year 2012-13, of which Myanmar's import from Japan took 1.09 billion dollars, while its export to the East Asian nation stood at 406.49 million dollars.

Japan's investment in Myanmar amounted to 270.28 million U.S. dollars as of March 2013 since Myanmar opened to such investment in late 1988 and stands the 11th in Myanmar's foreign investment line-up.

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