Monday, March 4, 2013
Myanmar To Set Up Japan Desk For Investment Guidance
BANGKOK (Nikkei)--The government of Myanmar will set up a special desk staffed with Japanese experts to provide investment consulting for Japanese firms that want to do business in the Southeast Asian country, The Nikkei has learned.
The Japan Desk at the Ministry of National Planning and Economic Development's Directorate of Investment and Company Administration will be set up as early as July. It will be the first time for Myanmar to set up a counter intended for companies from a specified nation.
Revisions to Myanmar's foreign investment law went into effect in late January. But the Myanmar government has little experience in working with such legislation. Also, Japan has little business experience in Myanmar, which means Japanese firms have been cautious about labor management and other complications that could arise in doing business in the Southeast Asian country.
The Japanese experts will serve as mediators between companies and the Myanmar Investment Commission or other relevant agencies. They will be publicly recruited and sent by the Japan External Trade Organization (JETRO). It is seeking applicants who have been stationed in Asian countries before. JETRO will incur labor costs.
Japan's cumulative investment in Myanmar was 260 million dollars, or roughly 24 billion yen, as of the end of 2012. It is less than 2% of China's investment and is ranked 11th by country or region.
(The Nikkei, March 4 evening edition)