Singaporean Businessmen Vow to Boost Trade, Investment in Myanmar

Singaporean Businessmen Vow to Boost Trade, Investment in Myanmar

Singaporean Businessmen Vow to Boost Trade, Investment in Myanmar

Singaporean businessmen in Myanmar have vowed to boost trade and investment of the county, official media reported Wednesday.

The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and 47 Singaporean businessmen jointly made a business dialogue and networking session over the last 2 days in Yangon, discussing on cooperation in maritime trade, foreign investment, construction, energy and electricity, real estate and health sector.

This was the 1st business session of Myanmar businessmen with Singaporean counterparts since the new government took office. The 2 sides exchanged views for potential sectors in Myanmar such as manufacturing of construction materials, micro finance, and IT (information technology).

Singapore is the 2nd largest investor in Myanmar after China, with US$13.28-B of investment as of July. A total of 212 Singaporean firms have been permitted to operate in Myanmar, according to the official statistics of Myanmar Investment Commission (MIC).

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