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NEWS - More Japanese Aid, Investme



Subject: NEWS - More Japanese  Aid, Investment Pour in Myanmar

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More Japanese  Aid, Investment Pour in Myanmar

            Xinhua
            31-JAN-99

            in Past 6 Years 

            (By Duan Tingchang) 

            YANGON (Feb. 1) XINHUA - Since Japan resumed its
            assistance to Myanmar in 1992, it has been providing
            grants-in-aid for debt relief and other grant aids to the
            country, standing as Myanmar's major aid provider. 

            Japan was once the biggest donor to Myanmar in the past.
            However, it suspended aid to the country in late 1988 on
            account of the then situation until 1992. 

            The resumed assistance is said to be offering in line with
the
            Japanese government's Official Development Aid (ODA)
            policy, taking into account some positive developments in
            Myanmar in terms of economic reform among others. 

            The grants-in-aid for debt relief, which have been extended
            to Myanmar for several times with an amount ranging from 2
            billion yens (15 million U.S. dollars) to 5 billion yens (37
            million dollars) on each occasion, are aimed at relieving
the
            burden of debts the Myanmar government owes to the
            Japanese government. 

            Other forms of aid, so far extended, helped Myanmar
            implement development projects of agriculture, health, rural
            community and human resources as well as HIV/AIDS
            prevention programs. 

            Myanmar is also obtaining assistance from Japan in its
forest
            greening project in arid zone. With the help of Japan's
            JIFPRO Group and 10 other organizations, a three-year
            project from 1998 to 2000 to plant trees as forest reserve
            protection plantations in central Mandaly division's Nyaung
U
            township is underway. 

            Under the technical assistance program, Japan is also
            helping Myanmar implement a seed bank project in Yezin,
            Pyinmana in the central part and a forestry training center
            and an irrigation technology center in Yangon and Bago
            respectively. 


            In the sector of drug control, Japan is among countries
which
            help Myanmar implement measures to eradicate poppy
            cultivation in the country by introducing alternative
            development programs. 

            With the Japanese government's financial support, a
            21-country seminar on the move was held in Yangon in
            March 1998, exchanging information and experiences for
            substituting poppy with the alternative programs. 

            A Japanese buckwheat-opium substitute production pilot
            project in northern Shan state's Ta Shwe Tang area has
            proved highly successful, bringing about the beginning of
            commercial production of the crop last December. 

            At a time when its aid is resuming to Myanmar, Japan is also
            injecting more investment in the country, reaching 223.56
            million dollars in 20 projects at the end of October 1998
and
            ranking the ninth among 23 countries or regions which have
            a total of 7.089 billion dollars of investment in the
country. 

            Japan brought in 20 million dollars' investment in
            establishing Myanmar's first foreign-invested industrial
zone
            -- the Mingaladon Industrial Zone -- in the north of Yangon. 

            The infrastructural facilities of the 89-hectare industrial
zone,
            set up by Mitsui of Japan, was completed in June 1998 after
            two years' construction. More Japanese investment is
            expected to be mainly obtained to set up enterprises there
            for further development. 

            The involvement of Nippon Oil Company in development of
            the Yetagun Gas Field off Tanintharyi coast along with
            Britain's Premier, Malaysia's Petronas and Thailand's
            PTTEP oil companies also highlights Japan's investment in
            Myanmar. 

            The engagement of the Kajima Corporation in two diversion
            tunnel projects of the Paunglaung hydro-electric power
            station in central Pyinmana also signifies one of Japan's
            major investment projects in the country. 

            In the banking sector, there opened so far eight Japanese
            bank representative offices in Myanmar with three marine
            and fire insurance companies reaching accords with the
            state-owned Myanmar Insurance to set up joint ventures
            respectively. 

            In June, 1996, Japan's Daiwa Institute of Research also set
            up a joint venture securities exchange center with Myanmar. 

            Other Japanese investments cover manufacturing, hotels
            and tourism, real estate, mining, transport and
            communications, and livestock and fisheries. 

            Moreover, the establishment of the Myanmar-Japan
            Economic Cooperation Committee between the chambers of
            commerce and industry of the two countries in February
            1998 has further enhanced their economic cooperation as
            bilateral ties develop.