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Friday 15 June 2018

Toyo Ink to establish production base in Myanmar




Toyo Ink SC Holdings Co Ltd, the parent company of the Toyo Ink Group of Japan, announced plans to establish a production base in the Thilawa Special Economic Zone in Yangon.
The company plans to set up in July 2018 a wholly-owned manufacturing subsidiary, Toyo Ink Myanmar Co Ltd with an initial paid-in capital of $6.5 million.
The new factory is scheduled to break ground in November 2018 with commercial operation expected to begin in November 2019.
In line with its strategic focus on strengthening its market competitiveness and boosting business development in the region, the Toyo Ink Group had been eyeing expansion in Myanmar while supplying the nation with exports via neighbouring countries. In recent years, the government's aggressive policies to attract foreign funding, such as infrastructure enhancements and the relaxation of import restrictions, have substantially strengthened Myanmar's investment climate, making it an attractive investment destination.

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