(MENAFN- AFP) Japan's premier on Saturday pledged "all possible assistance" to kick-start Myanmar's ailing economy, hailing a major industrial zone near Yangon as a symbol of development for the impoverished nation.
Prime Minister Shinzo Abe, who is touting the potential of Japanese businesses to boost the once junta-ruled nation's economy, visited the Thilawa project -- a 2,400 hectare (6,000 acre) site which will include a port and industrial park.
Praising the jointly-developed scheme as a symbol of "bi-lateral co-operation" which will create badly needed jobs, Abe said his government "is ready to provide all possible assistance" as Myanmar edges towards democracy.
"Japan is happy to support nation-building in Myanmar," he added, according to an official translation of comments made after his visit to Thilawa.
During his trip Abe is pushing the expertise of Japanese firms -- in particular in infrastructure building -- to Myanmar, which desperately needs investment to drive a much-anticipated economic revival.
"Thilawa SEZ (special economic zone) is a milestone in the relationship between the two governments and the private sector," said Set Aung, Myanmar's deputy minister of National Planning and Economic Development.
"This will create quick wins for the people of Myanmar and Japanese businessmen," in terms of jobs and much-needed "technical assistance", he added.
An environmental impact assessment of the site will be completed in August, he said.
Japan and Myanmar in December agreed to start work this year on the Thilawa project with the zone due to be up and running in 2015.
Abe follows in the footsteps of other world leaders who have flocked to the former pariah state since it was welcomed back to the international community after a nominally civilian government was installed in 2011.
In the first visit by a Japanese premier since 1977, Abe is seeking to cement a role for his country in resource-rich and strategically key Myanmar, whose untouched markets have caught the eye of global investors.
Unlike its Western allies, Japan maintained trade ties and dialogue with Myanmar during junta rule which ended in 2011, saying a hard line could push it closer to China.
During his trip Abe is also expected to unveil almost $1 billion in development aid and a plan for a nationwide electricity grid as part of a strategy to tout Japanese infrastructure firms around the world.
He is being accompanied by a 40-strong business delegation bosses of some of Japan's top companies including trading houses Mitsubishi, Mitsui and infrastructure firms Taisei and JGC.
Before the signing ceremony Abe laid wreaths at Yangon's Martyrs' mausoleum -- where the tombs of independence leaders including General Aung San -- Aung San Suu Kyi's father -- who were assassinated in 1947.
He was due to meet democracy champion Suu Kyi before travelling to the capital Naypyidaw for a summit with President Thein Sein on Sunday.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.