By John Lee.
On September 1st, Mitsubishi Heavy Industries Ltd (MHI) will open an office in Basra, the second-largest city in Iraq.
MHI aims to respond swiftly to emerging large-scale social infrastructure improvement projects supported by its vast oil reserve and rapidly increasing reconstruction demand from warfare and economic sanction. The new office will function as a base for flexible sales support and information gathering activities.
The Basra Office will be inaugurated under the direct purview of the Global Strategic Planning & Operations Headquarters, tasked with exploring for highly promising projects and forming close ties with key customers as Iraq marks quickly expanding demand for large-scale reconstruction projects.
Iraq is seen as having high market potential, with numerous infrastructure improvement projects planned as the country's security situation is gradually restored. Japanese firms continue to enjoy a high level of local trust stemming from their participation in a large number of infrastructure projects during the 1970s, and the Iraqi government has repeatedly voiced its hopes that Japanese companies will take part in the country's recovery efforts.
The new Basra Office is thus being established based on the view that, under the circumstances, MHI is in need of opening a local base in Iraq as quickly as possible.
Through the new office, MHI aims to work closely with Iraqi customers and become fully familiar with the local market as it seeks to contribute aggressively to Iraq's early recovery and development.
(Source: Mitsubishi Heavy Industries)