Sumitomo chief pays homage to Yangon
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Vice President U Nyan Tun on Monday received a Japanese delegation led by Takeshi Kunibe, chairman and chief executive officer of Sumitomo Mitsui Banking Corporation at the Credentials Hall of the Presidential Palace.
The two sides discussed matters relating to prospects in cooperation with local banks for the development of Myanmar banking services, human resource development programmes in banking service and making financial investment in major economic projects.
Also present were deputy ministers and vice governor of the Central Bank of Myanmar.
Sumitomo is one of three Japanese banks winning licenses to operate limited services in Myanmar. They are among 9 foreign banks having been allowed to operate in the country for the first time in over 50 years.
The Japanese conglomerate has included Myanmar in a list of countries to win the company-wide, strong emphasis, under its medium-term management plan.
Sumitomo Corp has made presence felt in several business areas.
It is part of the consortium - also consisting Mitsubishi Corp and Marubeni Corp - that develops Thilawa special economic zone.
With Japan-based KDDI Corp, this year Sumitomo also signed a deal with with Myanma Posts & Telecommunications to undertake telecommunications operations in Myanmar.
