Suu Kyi calls on Japanese companies for investment

AUNG San Suu Kyi, Myanmar’s state counsellor and foreign minister, met with representatives of the Japanese business community on Friday in Japan, calling on them to accelerate investment in Myanmar.

Suu Kyi attended a welcome luncheon hosted by business organisations including the Japan Business Federation.

At the luncheon, Suu Kyi stressed Myanmar’s intention to remain a socially and econom- ically growing member of the international community. She wants to keep Myanmar on a steady path to achieve continuous economic growth by attracting more investment from Japan and other countries.

Japanese companies have a strong interest in Myanmar.

One factor that makes Myanmar attractive is its low wages. Factory workers’ wages there are about a third of those in neighbouring Thailand. Myanmar’s economic growth rate has also remained above 7 percent for four consecutive years.

The administration of the National League for Democracy, led by Suu Kyi, was launched at the end of March this year. In October, the US lifted economic sanctions.

As Myanmar regained stability, the number of companies listed as members of the Japan Chamber of Commerce and Industry, Myanmar, grew. As of September this year, 318 are listed – a sixfold increase from fiscal 2010.