A senior Japanese government official announced on Thursday that Japan will have invested US$10 billion within the next 10 years in infrastructure projects in Myanmar alone.
During an open discussion during the 22nd World Economic Forum in Naypyitaw, Yasutoshi Nishimura—Senior Vice-Minister of Japan’s Cabinet Office—said that the Japanese government will also begin to invest in information technology while keeping the focus on pouring overseas development assistance into Myanmar’s airports, water supply, and transportation.
Nishimura told the audience in Japanese that the biggest impediment against investment into Myanmar is the process of private cooperation under the public sector, which often lacks transparency from the government and regulatory framework as precedent.
The announcement at the WEF follows Japan’s write-off of $2.97 billion in Myanmar’s delinquent debts on May 26 and an injection of $395 million in fresh loans to the nation.
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