Weekly Business Roundup (October 3, 2008)
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By WILLIAM BOOT Friday, October 3, 2008
The Japan External Trade Organization, known as JETRO, has ended its “hold” warning to Japanese companies made after the 2007 Burmese military crackdown, sources say.
Reports from Rangoon say Japanese firms want to set up parts manufacturing factories in joint ventures with local businesses, but no details have been disclosed and JETRO did not provide more information.
JETRO, a Tokyo government-funded business development agency, had advised companies planning to invest in Burma to wait in the wake of the violence, sparked after monk-led protests over harsh economic conditions and the junta’s tight grip on daily life.
The alarm was heightened by the fact that the only foreigner to die when the army opened fire on unarmed protesters in Rangoon was a Japanese cameraman who was filming the crackdown.
About 60 Japanese companies have a presence in Burma, either in factories or promotional liaison offices, says JETRO.
All of them scaled down their activities after the crackdown.
However, Japanese vehicle manufacturers have expressed new interest in joining one of several so-called special economic zones the ruling junta says it plans to establish.
Suzuki and Isuzu are already involved in low-scale ventures in Burma. Suzuki has been manufacturing pickup trucks and motorbikes since the late 1990s but a continuing poor economy has prevented expansion, say industry analysts.
The junta-linked Myanmar Economic Holdings and SPA Motorcycle Ltd, as well as the Ministry of Industry, are involved with Suzuki and Isuzu.
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By WILLIAM BOOT Friday, October 3, 2008
The Japan External Trade Organization, known as JETRO, has ended its “hold” warning to Japanese companies made after the 2007 Burmese military crackdown, sources say.
Reports from Rangoon say Japanese firms want to set up parts manufacturing factories in joint ventures with local businesses, but no details have been disclosed and JETRO did not provide more information.
JETRO, a Tokyo government-funded business development agency, had advised companies planning to invest in Burma to wait in the wake of the violence, sparked after monk-led protests over harsh economic conditions and the junta’s tight grip on daily life.
The alarm was heightened by the fact that the only foreigner to die when the army opened fire on unarmed protesters in Rangoon was a Japanese cameraman who was filming the crackdown.
About 60 Japanese companies have a presence in Burma, either in factories or promotional liaison offices, says JETRO.
All of them scaled down their activities after the crackdown.
However, Japanese vehicle manufacturers have expressed new interest in joining one of several so-called special economic zones the ruling junta says it plans to establish.
Suzuki and Isuzu are already involved in low-scale ventures in Burma. Suzuki has been manufacturing pickup trucks and motorbikes since the late 1990s but a continuing poor economy has prevented expansion, say industry analysts.
The junta-linked Myanmar Economic Holdings and SPA Motorcycle Ltd, as well as the Ministry of Industry, are involved with Suzuki and Isuzu.
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