Japanese money may shift from Thailand to Myanmar

ASEAN+ January 12, 2017 01:00

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.

Japanese investors keen on exploiting opportunities in Myanmar may shift of out of some investments in Thailand, says Myanmar’s Directorate of Investment and Company Administration.

The agency has drafted a 20-year foreign direct investment promotion plan, which includes so called China Plus One and Thailand Plus One options. 

With a slowing economy in China, investors are thinking about shifting their investments to other countries in the region. “Thailand plus one” is founded on the idea that some investors may want to transfer their investments to neighbouring countries due to factors such as higher labour costs.

 “Our strategy is to ensure the inflow of foreign investments into our country,” said Aung Naing Oo, the agency’s director-general.

Japan is the top investor in Thailand. Under the Thailand Plus One vision, Japanese investments are expected flow into Myanmar. Some Japanese investors from Thailand would move to Myanmar while new investments from Japan would go directly to Myanmar, Aung Naing Oo said.

For the last recorded fiscal year, Japan ranked 11th on the top foreign investors list in Myanmar, with total investment of$682.1 million  – Myanmar Eleven

 Official opening for Xeset 3 hydropower project 

 Laos’ Xeset 3 dam, straddling the provinces of Saravan and Champassak, has been officially opened. The project cost more than US$50 million and took about three years to build.

Attending the opening ceremony were the Minister of Energy and Mines, Khammany Inthirath; the managing director of construction firm Norinco International, Wang Yuetao; the managing director of Electricite du Laos, Bounoum Sivanpheng, as well as the governors and deputy governors of Champassak, Saravan, Xekong and Attapeu provinces.

The dam was built on the Xeset River with a total installed capacity of 23MW, enabling it to produce 80 million kilowatt hour per year. The project was financed by preferential buyer’s credit from the Export-Import Bank of China.

Construction was carried out by China’s Norinco International. It follows the completion of the Xeset 2 hydropower project, Wang said at the ceremony.

Construction began in January 2014 and was scheduled for completion on January 17 this year. But it was completed earlier than planned and the dam began generating |electricity in July 2016. – Vientiane Times

 Yangon’s second night market nearing completion 

 Yangon’s second night market on 52nd Street in Pazundaung Township is nearing completion, said the management department of the Yangon City Development Committee .

“The installation of CCTV cameras is under way, while the water supply system and mobile toilets have been completed, a committee official said.

The YCDC will accommodate more than 140 street vendors at the second night market, with priority given to street vendors from Pazundaung Township.

“We are planning to collect the lists of street vendors in cooperation with MPs. In the morning, street |vendors will be allowed to sell |vegetables. 

I don’t know the exact date for the opening of the second night market,” he added.

The YCDC has allocated 1,600 out of more than 6,000 food and fruit shops at Yangon’s first night market, which opened on November 23 last year. 

The allocation of the first market was controversial however, as some street vendors complained last month at the Office of the |Myanmar Journalists Network inYangon thatthey did not get spaces – Myanmar Eleven

 Mandalay meet maps out need for green policy

 A meeting for the preparation of a green economic policy and the drafting of a strategic framework was held this week in Mandalay.

According to a memorandum of understanding from the Environmental Conservation Department and the World Wide Fund for global environmental conservation, measures on management and utilization project on sustainability for the sustainable management of natural resources have been carried out. The green economic policy and a strategic framework are part of this MOU, which aims to safeguard the environment while creating job opportunities under responsible development.

 “The main need for the green economic policy and strategic framework is to invite foreign investment for the economic development of our country,” said Sai Nay Win Myint from WWF-Myanmar.

“However, these foreign investments must be environmental friendly. Another important issue is manage the non green investment that already exists in the country.” – Myanmar Eleven


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