Japanese companies’ withdrawal from a large-scale development project under way in Yangon, Myanmar, became known by the 6th. Construction is reportedly suspended because of the military coup.
Yoma Strategic Holdings, a prominent conglomerate-affiliated company involved in a large-scale development in Yangon, is reportedly said to have announced by the 6th that Japanese companies, including Mitsubishi Corporation, plan to withdraw.
The reported background to the withdrawal is the suspension of construction following the military coup, which is believed to have affected the project’s progress.
The project is a large-scale development in an urban area of Yangon, and it has been pointed out that the withdrawal of the Japanese companies could affect future business plans.
The article reports the names of the parties that decided to withdraw and their counterpart companies, as well as the timing of the withdrawal. Further updates are awaited regarding the specific reasons for the withdrawal and future developments.