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Vice President Encourages Overseas Investment Based on Reliable Information
AUTHOR: TIN MG OO
When local businessmen are planning to make investments in foreign countries, U Myint Swe, Vice President of Myanmar, is urging them to contact Myanmar’s Minister Counsellor for Economic Affairs, so that they can obtain information on the economic environment of those countries.
“Local businessmen need to look at the market in other countries, in addition to the local market,”he said during a June 29 meeting with local businessmen held at the Union of Myanmar’s Federation of Chambers of Commerce & Industry (UMFCCI). “I also want to encourage local investors to make investments in other countries, in the same way that foreign investors make investments in our country.”
The Vice President cited the country of Vietnam as an example. Vietnam achieved success in recovering from war, and has even made investments in Myanmar, including some of a nature no one else has ever made. Furthermore, Vietnam is participating in expos held here at least twice every year.
The Vice President added that it is time for Myanmar to work harder at this. He said that Myanmar has appointed ten Minister Counsellors for Economic Affairs in nine countries. Local businessmen can acquire information from these ministers regarding the market and products of those countries. The Ministry of Commerce will also help liaise with them.
Myamar has appointed two Minister Counsellors for economic affairs in China, and one each for Singapore, Thailand, Hong Kong, Korea, India, Japan, the United States, and Belgium.
These ministers are responsible for providing information on trade, products, and markets in those countries, as well as for connecting businessmen of Myanmar with businessmen from those countries.
Yangon Region Approves New Investments
AUTHOR: TIN MG OO Yangon Region Investment Committee on June 27 approved seven foreign investment proposals and one local investment proposal. The foreign investments total $8 million, the local investment is worth K2.5 billion. The investments are expected to create over 3,000 jobs opportunities.
Ichitan Partners with Dagon Win Win to Offer New T247 Energy Drink
Author: Tin Mg Oo : In order to seize on the burgeoning trend for healthy beverages within the expanding Myanmar market, a new energy hybrid energy drink, named “T247”, has been launched. This new drink is backed by Ichitan Group, Thailand’s leading beverage company, in cooperation with Dagon Win Win, a leading local distributor. Their ambitious goal is to achieve 60 MB sales in the first year.
Foreign Investors Invited to Participate in Yangon Industrial Zone Development
AUTHOR: TIN MG OO At a press conference on June 3, Chief Minister of Yangon U Phyo Min Thein said that he welcomed the participation of both local and foreign investors to help establish new industrial zones, and upgrade existing ones.
Toyota to Build Myanmar Factory
Author: Zin Thu Tun Mr. Ichiro Maruyama, Japanese Ambassador to Myanmar, and Mr. Susumu Matsuda, President of Toyota Motor Asia Pacific Pte Ltd, met with U Thaung Tun, President of Myanmar Investment Commission and Union Minister of the Ministry of Investments and Foreign Economic Relations, to build a factory in Myanmar.