Japan to seek debt relief for Myanmar at IMF meeting
TOKYO (REUTERS) - Japan will try to broker a deal on debt relief for fast-reforming Myanmar on the sidelines of the upcoming International Monetary Fund (IMF) meeting in Tokyo, Japanese Finance Minister Jun Azumi said on Friday.
Japan waived US$3.7 billion (S$4.5 billion) in Myanmar's unpaid debt in April, sending a clear signal of Tokyo's intention to capitalise on its improving investment climate and urgent infrastructure needs.
Nobel Peace Prize winner Aung San Suu Kyi's election to parliament in April helped to transform the pariah image of Myanmar and persuade the West to begin rolling back sanctions after a year of dramatic reforms.
Analysts and experts have said there will be opportunities for foreign companies across the industrial landscape - from energy, mining and construction to agriculture, finance and tourism.