Japan to Take Leading Role in Pushing FDI in Rakhine
Japan to Take Leading Role in Pushing FDI in Rakhine
The Irrawaddy,, 08 Feb 2019
URL: https://www.irrawaddy.com/news/japan-take-leading-role-pushing-fdi-rakhine.html
YANGON—The Japanese Ambassador to Myanmar revealed his government’s plan to boost economic development in Myanmar’s most troubled and impoverished Rakhine State by backing the upcoming investment fair there and by pushing Japanese investors to consider opportunities there.
Despite Rakhine’s tarnished reputation due to the Rohingya crisis and ongoing armed conflict, the government is desperately seeking foreign investment in the state as a means of improving economic development and thus solving the state’s issues.
With the slogan “Rakhine is open for business to the world,” the Myanmar Investment Commission and the Rakhine state government is set to kick off the first Rakhine Investment Fair on Feb. 21 and 23, with a Japanese government agency, Japan International Cooperation Agency (JICA) and the Japan External Trade Organization (JETRO) acting as co-organizers of the fair.
The Rakhine Investment Fair will focus on three major areas—the agriculture, livestock and fisheries sector, tourism development and small and medium enterprise (SME) development.
He said the Japanese government wants to find ways to help boost investment in Rakhine State and that it would act as a negotiator between the local government and Japanese investors.
The Japanese ambassador said the main challenges for Rakhine in attracting investment are poor infrastructure and security issues. However, he said that his government is considering providing an Official Development Assistance in order to improve infrastructure, particularly electricity supplies and roads in Rakhine State.
Despite Rakhine’s tarnished reputation due to the Rohingya crisis and ongoing armed conflict, the government is desperately seeking foreign investment in the state as a means of improving economic development and thus solving the state’s issues.
With the slogan “Rakhine is open for business to the world,” the Myanmar Investment Commission and the Rakhine state government is set to kick off the first Rakhine Investment Fair on Feb. 21 and 23, with a Japanese government agency, Japan International Cooperation Agency (JICA) and the Japan External Trade Organization (JETRO) acting as co-organizers of the fair.
The Rakhine Investment Fair will focus on three major areas—the agriculture, livestock and fisheries sector, tourism development and small and medium enterprise (SME) development.
He said the Japanese government wants to find ways to help boost investment in Rakhine State and that it would act as a negotiator between the local government and Japanese investors.
The Japanese ambassador said the main challenges for Rakhine in attracting investment are poor infrastructure and security issues. However, he said that his government is considering providing an Official Development Assistance in order to improve infrastructure, particularly electricity supplies and roads in Rakhine State.