A company headed by a former Japanese minister has been pursuing a project to develop land owned by Myanmar's defense ministry through a joint venture with a military-affiliated firm, according to sources close to the matter.
With the ministry and the Southeast Asian country's ruling military acting as one body, there are concerns such business projects may become sources of income for the junta, which has killed more than 800 people and repeatedly violated human rights since it seized power from Aung San Suu Kyi's civilian government on Feb. 1.
The company, Japan Myanmar Development Institution Inc., headed by Hideo Watanabe, a former minister of post and telecommunications and the chairman of the Japan Myanmar Association, said it has only been supporting Japanese companies interested in the project, which is currently on hold with its participants still undecided.