Japan last Sunday through Burma's reform program by writing off nearly $ 20 billion in debt, and expand new aid, some of which will help support Japanese companies are developing commercial capital Yangon nearby industrial zone.
As foreign enterprises to enter Burma, after years of economic sanctions, Tokyo Japanese companies want to ensure that access privileges. Analysts also said that Japan hopes to counter China, Burma's neighbors growing economic and military strength.
Japan agreed a year ago to forgive arrears owed to it by the Government of Myanmar to 176.1 one billion yen ($ 1.74 bn) and, in a three-day visit by the Prime Minister Shinzo Abe Jin Sanan end, it says that the necessary conditions have been met Myanmar , including a series of political and economic reforms.
"Because the two governments recognize the continuation of reform efforts in Myanmar, the Japanese government has decided to remove the late charges," Japanese Foreign Ministry said in a statement.
Abe was the first to visit this Southeast Asian country in 36 years of Japanese leaders.
Unlike many countries, Japan does not impose trade and financial sanctions against Burma's military rule five years, but because of the poor greatly reduced their participation, but resource-rich country on the path of reform under the quasi-civilian government of President Thein Sein two years ago.
Debt relief or then, to promote reform in Myanmar, in the past year, including the lifting of media censorship, enacted a new law on foreign investment, and allow more freedom of political activists and party National League for Democracy (NLD) and so on.
Abe met during his visit NLD leaders, Nobel Peace Prize laureate Aung San Suu Kyi.
On Saturday, he visited the port of Thilawa, the future site of the industrial area, 25 kilometers (15 miles), south of Yangon.
51.05 one billion yen announced on Sunday as part of the new aid, Japan will provide two billion yen for the Thilawa project, over 40 years 0.01% interest repaid. The money will help the region's electricity infrastructure expansion port.
Other projects will help to improve the power elsewhere in the country, the development of rural infrastructure.
Wu Dawei to another industrial projects not mentioned in various reports, and the Thai border, is being developed by the Italian - Thai Development PCL.
USD $ 850 million in initial funding has proved difficult to achieve, the Thai government has sought the help of the Japanese.
Prime Minister Yingluck Shinawatra in Japan this week, she said, in a weekly television broadcast on Saturday, investors have shown a keen interest. Abe's visit to China, Myanmar, Thai officials had hoped that signs of progress. ($ 1 = ? 101.1850)
 
 



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