Myanmar will always be thankful to China, says minister; economic giants' investment in the country now almost US$22bil


YANGON (Eleven Media Group/ANN): There are 597 Chinese investment enterprises in Myanmar, and the largest number is in the electricity sector, with a value of US$21.863 billion, which is 23.5% of the total amount of foreign investment, according to the statement of the Minister of Investment and Foreign Trade Communications Dr. Kan Zaw.

The Union Minister added this in his opening speech after attending the GMS Projects Road show and the Lincang Border Economic Cooperation Zone (Lincang Border Economic Cooperation Zone) investment promotion ceremony as the second day of the 2023 GMS Economic Corridor Administrators' Forum in Tokumin, Yunnan Province, China. .

The Union Minister believed that the establishment of the Lincoln Channel Cross-Regional Economic Cooperation Zone would promote economic cooperation among GMS member countries.

"597 Chinese investment projects in Myanmar; It is 23.5% of the total amount of foreign investment, which is worth US$21.863 billion.

"China's investment is the largest in the electricity sector, and it is necessary to encourage this sector for the development of the border region. The electricity sector is a basic requirement for Myanmar, as well as being important for investment, and the national government is making special efforts to develop the electricity sector," he said.

"Furthermore, after the completion of the Kulong Bridge construction project, which is being implemented with the support of China, Myanmar's agricultural and livestock products will be able to be exported to China smoothly, and the border trade and investment sectors will be promoted to a greater extent.

"Inter-national Aquatic Products Processing Industrial Park in Linchang Border Economic Cooperation Zone The project is also expected to be beneficial along the border region between the two countries.

"Agriculture, including the electric vehicle sector. biomedicine; aquatic animals logistics of cooling equipment, Cultural exchange tourism industry projects are priority investment sectors set by the Myanmar Investment Commission, so we would like to invite you to visit and invest in these sectors, the Union Minister added.

The Union Minister also told the participants from the Mekong sub-region countries and those who want to invest that they hope to support technical cooperation between the member countries in order to promote food security and agricultural production.

In addition, the Union Minister attended the 2023 GMS Economic Corridor Governors Forum GMS Project Roadshow and Lincang-Mekong Fruit Fest-ival held at the Yunnan Haig-eng Convention Centre last Friday. - Eleven Media Group/ANN

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Myanmar , Appeciate , China Investment

   

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