1. The 7th General Meeting of “Myanmar-Japan Joint Initiative (Phase II)” was held in Nay Pyi Taw on November 7, 2019.

2. At the opening session, H.E. U Thaung Tun, Union Minister for Investment and Foreign Economic Relations, H.E. U Soe Win, Union Minister for Planning and Finance, and H.E. Mr. Maruyama Ichiro, Ambassador Extraordinary and Plenipotentiary of Japan to the Republic of the Union of Myanmar, delivered opening remarks. In the following discussion, participants from both governments and private enterprises discussed major issues on improving the business and investment environment in Myanmar.

3. In this General Meeting, Japan Chamber of Commerce and Industry, Myanmar (JCCM) members reported discussions and outcomes regarding the issues of “Import and Export,” “Automobile and Transport,” “Tax Affairs,” “Finance and Insurance,” and “Labor” areas since the last General Meeting in November 2018. After that, participants exchanged their views on the major issues.

4. Participants confirmed the progress and achievement made since the last General Meeting, including liberalization of the insurance market for foreign companies; release of foreign banks’ deposit blocked by CBM; launch of “Project Bank.” In addition, H.E. U Soe Win, Union Minister for Planning and Finance, and H.E. U Set Aung, Deputy Minister for Planning and Finance, showed a positive attitude towards the efforts for the Government of Myanmar to improve the investment environment, including further transparency and standardization of the government procedures.

5. It was reaffirmed that each WG will continue to discuss remaining issues, and both sides confirmed holding the next General Meeting in 2020. The Government of Japan will continue to work for better investment and business environment in Myanmar, by collaborating 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 consists of six WGs, namely "Import and Export WG," "Automobile and Transport WG," "Tax Affairs WG," "Finance and Insurance WG," “Labor WG” and "Business Environment WG" at present. These WGs will concretely and practically discuss the issues for the improvement of Myanmar's investment and business environment in respective sector.