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NEWS - More Japanese Aid, Investme
- Subject: NEWS - More Japanese Aid, Investme
- From: Rangoonp@xxxxxxx
- Date: Mon, 01 Feb 1999 21:36:00
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.