Over 200 Vietnamese enterprises invest in Myanmar

According to the General Department of Investment and Enterprise Management of Myanmar, Vietnam now ranks 7th out of 50 countries and territories having investment projects in Myanmar with its total registered capital of over US$ 2.16 billion via 25 projects.
Up to now, there have been more than 200 Vietnamese enterprises doing business and investing in Myanmar under various forms.

The information was reported at a conference named “Prospects of Myanmar Market in the integration period” hosted by the HCMC Center for Trade Promotion and Investment (ITPC) yesterday. 

According to Vietnamese Commercial Counsellor in Myanmar Ms. Vo Thi Ngoc Diep, investment and business in Myanmar currently have advantages thanks to Myanmar's production is still weak and falling short of demand, many areas of goods still have room to develop and there has been no high technical barrier for imported goods.  Additionally, Myanmar is also an ASEAN member with import tax incentives for products within the association and similarities in culture with other ASEAN partners.

In particular, the Vietnamese brands pioneering in the Myanmar market all have good quality products such as Lioa, Hanvico, Hoang Anh Gia Lai, BIDV, Dien Quang, Vietnam Airlines, etc which have contributed to the preferred psychology of local people with Vietnamese products and services.

According to Director of ITPC Mr. Pham Thiet Hoa, the center has continuously updated information about the market, economy, trade, administration procedures, tax, etc for businesses through the issuance of Market Information and Trade Handbook in Myanmar from 2011 to now with a purpose of supporting Vietnamese businesses to better exploit the Burmese market.

BY HAI HA – Translated by Huyen Huong

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