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NEWS - Myanmar Calls for Extensive
- Subject: NEWS - Myanmar Calls for Extensive
- From: BurmaJapan@xxxxxxx
- Date: Tue, 23 Dec 1997 10:55:00
Myanmar Calls for Extensive Insurance Services
Xinhua
22-DEC-97
YANGON (Dec. 23) XINHUA - A senior
Myanmar finance official has called for
extensive insurance services in the
country, saying the importance of the
insurance business has been increasing.
Speaking at the opening ceremony of the
representative office of the Tokio Marine
and Fire Insurance Co. of Japan here
Monday evening, Myanmar U Khin Maung
Thein, minister for finance and revenue,
urged foreign insurers to work with
Myanmar counterparts for mutual interest
and thus help further develop the country's
insurance market, the official newspaper
The New Light of Myanmar reported
Tuesday.
Tokio is the third Japanese marine and
fire insurance company with a
representative office in Myanmar after two
others, the Mitsui and the Yasuda, opened
their offices in Yangon in January last
year.
Later, in June and October last year, the
Mitsui and the Yasuda signed
memorandums of understanding
respectively with the state-owned
Myanmar Insurance to set up insurance
joint ventures.
Myanmar enacted the Insurance Business
Law in June last year, permitting local
private companies and foreign investors to
undertake insurance business in the
country.