Japanese investments expected to shift to Myanmar: DICA

Thilawa Special Economic Zone project. (Photo-Kyi Naing)

 

Japanese government and many Japanese companies are becoming interested in making investments in Myanmar as Japanese companies are looking into shifting their investments from Thailand, according to the Directorate of Investment and Company Administration’s press release.

The DICA has drafted a 20-year Foreign Direct Investment Promotion Plan, which includes 'China plus one' and 'Thailand plus one' options. Due to the economic changes in China, investors are thinking about shifting their investments to other countries in the area.

The situation for 'Thailand plus one' is exactly the same - some investors want to transfer their investments to third countries as Thailand faces natural disasters and higher labour costs. "Our strategy is to ensure the inflow of foreign investments into our country," said Aung Naing Oo, the director-general of the DICA.

Japan is the top investor in Thailand. According to Thailand Plus One, Japanese investments are expected flow into Myanmar. Some Japanese investors from Thailand will move to Myanmar while the new investments from Japan will make investments here, he added.

Till November of the 2016-2017 fiscal year, Japan ranked 11 on the top foreign investors list, with total investment of US$ 682.1 million.