Myanmar attracts Japanese housing firms, car manufacturers

Myanmar’s transition to a democracy has opened new vistas for foreign companies.

The country is now looking for better urban infrastructure and rapid economic development.

Recently, “The Building and Housing Seminar between Myanmar and Japan” was held in Yangon to deepen cooperation between the two countries.

Ichiro Maruyama, Minister-Counsellor, Deputy Chief of Mission, Embassy of Japan, said: “The Embassy of Japan and our government will contribute to the national development of Myanmar.”

Keiichi Yoshii, Head of Overseas Business, Daiwa House Industry Co. Ltd., said: “We are planning to bring our service apartment business, which we operate in China. Also, Daiwa House Group has merged with Fujita Corporation, and we are aiming to begin from scratch as a construction company in Myanmar.”

Japanese companies have shown great interest in Myanmar’s growing building and housing business.

The delegates exchanged information about areas that could be tapped.

Naing Lin, Myanmar Kowa International Co. Ltd., said: “Hotel and condominium business become developing so every hotel and condominium buildings, they need good hot water system. One of our requirements is that we have a lot of natural gas in Mynamar, so if we can use the natural gas like a city gas, piping system in the big city, we can save the energy and we can more protect our green.”

Rinnai, a Japanese gas appliances company, produces the most efficient water heater in the market.

It plans to contribute to the local society by promoting its energy efficient products in Myanmar.

Yuzo Yoshida, Managing Executive Officer, Rinnai Corporation, said: “Myanmar still faces an energy crisis. Our aim is to offer energy-efficient products to the country. If we use an electric heater, I prefer a bigger tank for this gas system. The gas consumption will be reduced by more than half.”

Myanmar’s untapped car market has attracted the Japanese automotive company Nissan, which plans to set up a local manufacturing unit in the country.

The President and Chief Executive Officer of Nissan Motor, Carlos Ghosn recently met Myanmar Vice President U Nyan Tun and discussed future plans with him.

At a press conference he detailed plans for a 10,000-unit capacity plant in Bago that will initially create 300 jobs.

Carlos Ghosn, President and Chief Executive Officer, Nissan Motor Co Ltd, said: “We’ll actually start during calendar year 2015 with initial employment level of 300 workers. I’m proud to say Nissan is the first car manufacturer to have the agreement from the Myanmar government to build this facility in partnership. This is the first step. It’s a very important one. As you know, today the market in Myanmar is evaluated at 120,000 cars a year, practically all of them being used cars. 95 per cent are used cars and the rest of it are imported CBU. There is absolutely no local market. This is one of the most promising markets in Southeast Asia, certainly one of the most promising markets in the world.”

The first made-in-Myanmar Nissan car will be the popular Sunny sedan, which will be built in collaboration with Tan Chong Motor Group of Myanmar.

Source: Business Standard India

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