HCMC Industrial Zone to be built in Myanmar

Vice Chairwoman of People's Committee of Ho Chi Minh City Nguyen Thi Hong visited and worked with Minister of Commerce of the Republic of the Union of Myanmar Win Myint in Yangon City on June 28.

The meeting is part of the framework plan of the 2014 Ho Chi Minh City Expo, taking place in Yangon City from June 26-30.

At the meeting, Vice Chairwoman Nguyen Thi Hong expressed her determination and desire to invest in fields such as high-tech agriculture, processing industry, jewelry, hotel, tourism and exporting goods into Myanmar market.

Currently, the agricultural sector of Vietnam in general and Ho Chi Minh City in particular has focused on high- tech manufacture and investment. Although Vietnam has square for rice growing  smaller than Myanmar, Vietnam has achieved a high agricultural output because of high- tech application in creating new rice varieties, added Nguyen Thi Hong.

Vietnam became the world’s top rice exporter with the export volume of seven million tons per year in 2013 and Ho Chi Minh City achieved successfully in importing and breeding milk cows.

As result of, we have a great investment potential in agriculture and wood processing industry, Ho Chi Minh City hoped that Myanmar Government, Ministries and Departments will agree to establish a new industrial zone of Ho Chi Minh City in Myanmar in the upcoming time, aiming to introduce Vietnamese goods to Myanmar customers, Hong stated.

Minister Win Myint said that Vietnam is ranked the eighth in the list of investors into Myanmar market. Myanmar consumers have appreciated the quality as well as reasonable price of Vietnamese goods. HCMC should send the proposal of building HCMC industrial zone in Myanmar soon. He also expressed his hope to strengthen ties economic cooperation relationship to Vietnam's dynamic investors.  

For the tourism sector, Myanmar will continue to participate in the annual tourism fair under title of ‘Five countries, one destination’, held by the HCMC People's Committee.

Earlier, Nguyen Thi Hong visited and worked with Chief Minister of Yangon City Mr. Myint Swe to discuss cooperation opportunities between Yangon and Ho Chi Minh City.

Ho Chi Minh City and Yangon City trade turnover has increased year on year. In 2012, it reached US$ 66.4 million and US$ 127.4 million in 2013. The first half of 2014, it touched US$ 83.9 million.

By Thuy Hai (From Myanmar)- Translated by Huyen Huong

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