JBIC concluded a shareholders agreement with Myanmar's Foreign Economic Relations Department (FERD) and Thailand's Neighbouring Countries Economic Development Cooperation Agency (NEDA) to participate in Dawei Special Economic Zone Development Company Limited ("Company"). The Company was jointly established in June 2013 by FERD and NEDA with the aim of providing support, including advice, to the Myanmar government on the comprehensive development of the Dawei Special Economic Zone ("Dawei SEZ") in Myanmar.
Japanese companies have high expectations for Myanmar's growth potential. Through the equity participation in the Company, JBIC will assist Japanese companies to participate in infrastructure projects in the Dawei SEZ from an early stage of its development, and this will lead to increasing opportunities for them to be involved in future infrastructure business. The Dawei region, which faces the Indian Ocean, is also important in terms of ASEAN connectivity and will contribute to the business promotion of Japanese companies which have expanded into the ASEAN region, including Thailand.
JBIC will contribute to further deepening and developing economic relations between Myanmar and Japan.