Japan-based Megumi No Sato will join hands with Myanmar's City Mart Holding Company, to produce and sell vegetables and fruits, according to a company announcement.
Megumi No Sato is a popular company back in Japan and is part of the G-7 Group which specialises in selling quality vegetables from select farmers. The Myanmar Investment Commission (MIC) has granted a joint-venture permission to City Mart Holding according to the Citizen Investment Law.
The company will carry out cultivation of vegetables and fruits in Pyin Oo Lwin Township of Mandalay region, central Myanmar.
Megumi No Sato Company is now cultivating and selling agricultural products in Japan and it also provides support to farmers to create stable incomes for supplying fresh vegetable at a reasonable prices.
The Japanese government is eyeing to invest in production and selling of vegetables and fruits in Myanmar. This is the first Japanese private joint-partnership with a Myanmar company.
The MIC granted permissions to five other foreign investment enterprises and one citizen investment during a meeting held on August 21 this year.
