Matrade eyes RM400mil worth of projects in Myanmar

KUALA LUMPUR: The Malaysia External Trade Development Corp (Matrade) targets RM400mil worth of construction projects in Myanmar for Malaysian companies. 

In a statement on Wednesday, Matrade said the projects include residential, commercial, industrial parks and mixed developments such as hotels, office buildings and shopping malls.

The projects are owned by government-related agencies and private entities identified by Matrade, it said.

"Malaysian firms are in the best position to contribute to the development in Myanmar due to outstanding track record in undertaking various construction and infrastructure projects globally," said Matrade. 

Last year, Matrade said, projects worth RM330mil were identified, adding Myanmar offers huge business potential and opportunities, especially in the infrastructure and property development sector. 

"There is a surge in demand for modern residential and commercial properties due to the people's changing lifestyles and foreign investors' influx into the country," said Matrade. 

Infrastructure development is given the highest priority by the government thus improving the social well-being of Myanmar citizens, it added.

Nine Malaysian construction companies will be joining a Matrade Specialised Marketing Mission to Myanmar on March 17-21, to meet project owners and assess projects that have been identified, as well as to participate in the Myanmar Infrastructure Summit and Exhibition in Yangon, the commercial capital.