Suu Kyi courts Japan investment with new economic zone

published 29.07.2020 16:20

According to the Myanmar government, Japanese investment in Myanmar between 2011 and now has exceeded $1.7 billion.

Myanmar is hoping to draw more foreign direct investment and Japan has been one of its main investors.

At the conference, Investment and Foreign Economic Relations Minister Thaung Tun said: "This new economic zone shall be bigger and better connected than any other economic zones in Myanmar."

YANGON -- Myanmar State Counselor Aung San Suu Kyi announced on Wednesday that the government will develop a new special economic zone in Mon State in the east of the country to create jobs and encourage foreign investment.

Ken Kobayashi, chair of Keidanren's Japan Myanmar Economic Committee, said: "Because of the coronavirus, there will be a movement to reconsider the supply chain, and I think that Myanmar will receive more attention due to the possibility of factory relocations."

by Staff Writer from asia.nikkei.com

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