OREANDA-NEWS. The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) has signed a Memorandum of Understanding (MOU) with Directorate of Investment and Company Administration (DICA) in Tokyo, with the purpose of developing collaborative efforts in promoting investments from Japan to Myanmar.

DICA is established as regulatory authority to promote and facilitate the development of Myanmar. It is playing a role in investments from overseas and handling the procedure of operating license and registration. With abundant natural resources, a population of around 51 million and an advantageous geographical location bordering the high-consumption markets of China, India and Thailand, Myanmar is believed to have a high potential for growth and as such BTMU projects significant growth in the medium to long term.

BTMU was the first foreign bank to open its branch banking operations in April 2015. BTMU can provide foreign companies and domestic banks with a suite of banking services including deposit, credit and foreign exchange. BTMU held its first Business Matching event for Japanese, Thai and Myanmar companies on 22 July 2015 in Yangon. This synergistic initiative was to allow BTMU corporate customers to identify potential partners to invest in Myanmar.

Through this MOU, BTMU will proactively collaborate with DICA and aims to contribute further to the promotion of foreign direct investments and provide stronger support to its customers exploring possibilities of investing or expanding into Myanmar.