Japan: Stop Real Estate Project in Myanmar

NAYPYITAW, 17 July 2021, (TON):  Japanese business entities should stop their participation in a commercial real estate project involving Myanmar’s abusive military, Human Rights Now, Human Rights Watch, Japan International Volunteer Center, Justice For Myanmar, and Mekong Watch said today.

The proposed Y-Complex in Yangon is being constructed on land leased from the country’s armed forces, the Tatmadaw, whose long record of abuses has worsened since the February 1, 2021, military coup.

One participating company, Tokyo Tatemono, stated that they have suspended operation of the Y-Complex project since the coup. However, project participants, including publicly-funded Japan Bank for International Cooperation (JBIC), Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN), Fujita Corporation, and Tokyo Tatemono, have not publicly disclosed the duration of the suspension or the conditions for resuming operations.

“The Japanese government and businesses failed to appropriately assess the risk associated with doing business in Myanmar,” said Ryutaro Ogawa, Vice Secretary General at Human Rights Now.

They should admit their own shortcomings and act responsibly, otherwise, they will risk financing the military.

The Y-Complex, which includes a shopping mall, hotel, and office rental space, is being built on “military-owned Military Museum land” leased by Myanmar’s Quartermaster General’s office, according to a copy of the Build, Operate, Transfer (B.O.T) Land Lease Agreement” dated October 15, 2013.

Rate this item
(0 votes)
Login to post comments
Go to top