Myanmar-Japan Joint Initiative (Phase II) (6th General Meeting)
27 November 2018

1. The 6th General Meeting of “Myanmar-Japan Joint Initiative (Phase II)” was held in Nay Pyi Taw on November 26, 2018.

2. At the opening session, H.E. U Soe Win, Union Minister for Planning and Finance, H.E. U Thaung Tun, Union Minister for Investment and Foreign Economic Relations / Chairman of Myanmar Investment Commission, H.E. Mr. Ichiro Maruyama, Ambassador of Japan to Myanmar, and Mr. Kunio Negishi, Chairman of Japan Chamber of Commerce and Industry in Myanmar (JCCM), delivered remarks. In the following discussion, participants from both government agencies and private enterprises discussed major issues on improving the business and investment environment in Myanmar.

3. In this General Meeting, 5 Working Groups (WGs) on "Import and Export," "Industrial Policy," "Finance and Insurance," "Tax Affairs" and "Investment Promotion" reported discussions and outcomes in each WG since the last General Meeting in February 2018. After that, participants exchanged views on major issues.

4. Participants confirmed progress and achievements made since the last General Meeting, including the liberalization of retail and wholesale trading for foreign companies; removal of a tight trading band on the Myanmar Kyat; expansion of foreign banks’ scope of financial services to local companies; steady transition to Self-Assessment System with regard to corporate income tax; and publication of Myanmar Investment Promotion Plan (MIPP).

5. It was reaffirmed that each WG will continue to discuss remaining issues and both sides agreed on holding the next General Meeting in 2019. The Government of Japan will continue to work for better investment and business environment of Myanmar in partnership with Japanese private enterprises and partners in Myanmar.

"The Myanmar-Japan Joint Initiative (MJJI)"

MJJI is a framework to discuss measures for improving the investment and business environment in Myanmar by the public and private sectors of Japan and Myanmar, which was launched in 2013. After the inauguration of the NLD administration in 2016, MJJI has further strengthened its efforts and started to conduct more comprehensive discussions as the Phase 2. In addition to the General Meeting, it set up five WGs, namely "Import and Export WG", "Industrial Policy WG", "Finance and Insurance WG", "Tax Affairs WG" and "Investment Promotion WG". These WGs have been concretely and practically discussing the issues for the improvement of Myanmar's investment and business environment in respective sector.