Mitsubishi Corporation from Japan and local firm Capital Diamond Star Group plan to invest over US$200 million in Myanmar through Lluvia, a joint venture set up by the two companies.
The plan calls for investment in the food and beverage industry within the next three years.
Mitsubishi’s Myanmar representative Gen Murakami stated: “Myanmar has a huge market because it has a lot of agricultural and exportable products. The main reason is the availability of raw materials. If you look at the current food and beverage market, you don’t see much of local made products but only imported ones. If we can build infrastructures with enough investment and the right technology, there is a really bright future ahead. Mitsubishi Lluvia will be committing 30 percent of total capital to start.”
Lluvia will be working towards manufacturing, distributing and exporting locally made products, such as the well-known Premier Coffee, to neighbouring countries.
“Currently we have plans to export Premier coffee internationally within the next 10 months. First will be the SEA countries; Cambodia, Vietnam, Indonesia, Philippines,” said Capital Diamond Star Group’s Chief Financial Officer Lim Chong Chong.
Mitsubishi Corporation is the largest trading company in Japan which deals in many different business segments such as finance, banking, energy, machinery, chemicals and food.