Mitsubishi Corporation (MC) is pleased to announce that it will establish a new office in Nay Pyi Daw, the capital city of Republic of the Union of Myanmar (Myanmar), on 1st September 2012.
Myanmar is rich in natural resources, and has the geographical advantage of sharing a border with China, India and other ASEAN countries. Its population of approximately 62 million forms a basis for further industrial development and carries high potential as a consumer market.
Democratization picked up pace in Myanmar during the course of last year and, since then, several countries have been removing existing economic sanctions. Consequently, rapid government-led infrastructural development, including power generation, telecommunications services, airports and road construction, is expected to take place on the basis of international support.
Since the establishment of an office in Yangon in 1954, MC has maintained a presence in Myanmar, thereby contributing to the local economy through the trading of a range of products such as fibers, food provisions, steel and machinery. By establishing the Nay Pyi Taw Office, MC will strengthen its information gathering function, together with the Yangon Office. With the two Offices, MC aims to further contribute to Myanmar’s industrial development and sustainable growth, by focusing on infrastructure development projects, which will be funded through international yen loans and other sources.
[Outline of Nay Pyi Taw Office]
1. Official Name: Mitsubishi Corporation Nay Pyi Taw Office
2. Address: No. 129, Thiri Yadanar Shopping Complex, Nay Pyi Taw
NB: Operations will be carried out at the Aureum Place Hotel Office area until the end of September, 2012.
3. Representative: General Manager, Mitsuo Ido (concurrent; General Manager of Mitsubishi Corporation Yangon Office.)
[Outline of Mitsubishi Corporation]
(1) Head Office: 2-3-1 Marunouchi, Chiyoda-ku, Tokyo, Japan
(2) Established: April, 1950
(3) Capitalization: 204.4 billion Yen
(4) Business: MC has six Business Groups, which develop operations in the diverse fields of Industrial Finance, Logistics & Development; Energy; Metals; Machinery; Chemicals; and Living Essentials. In addition to these Business Groups, MC has also recently established its Business Service Group and Global Environment & Infrastructure Business Development Group.
(5) Sales: 19,233.4 billion Yen (consolidated, for year ended March 31, 2012)
(6) Employees: 63,058 (consolidated, for year ended March 31, 2012)
(7) Representative: Ken Kobayashi, President and CEO