1. The 1st meeting of “Myanmar-Japan Joint Initiative (Phase II)” was held today in Yangon, with participation of representatives from both public and private sectors of Myanmar and Japan, under the auspices of the Co-Chairs, H.E. U Kyaw Win, Union Minister for Planning and Finance and H.E. Mr. Tateshi Higuchi, Ambassador of Japan to Myanmar.

2. Since its launch in 2013, “Myanmar-Japan Joint Initiative (MJJI)” has been functioning as a unique forum of discussion, among stake-holders from the two countries of both public and private sectors, toward concrete measures for expediting improvement of investment climate of Myanmar. Today, MJJI opened a new chapter as “Phase II”, following the establishment of the new administration in Myanmar.

3. At today’s general meeting, with a backdrop of steady increase of business and investment from Japan, high expectation on further investment was expressed. Participants also discussed outcomes and challenges of the previous years, and recognized 5 critical themes to approach: promotion of domestic industrial development, trade policy, finance & insurance, tax affairs, and FDI promotion. They agreed to continue to deepen discussion by setting up Working Groups on each theme.

4. Myanmar is expected to achieve strong economic growth. But it is important to ensure stable development of business and investment for longer term with tireless reform efforts, which will bring “Win-Win” solution to the both countries. Japan side reaffirmed its strong commitment to support Myanmar, from both public and private sectors, for its socio-economic development, and such commitment is highly welcomed at today’s meeting.