August 19, 2016

Indonesia shows interest in Myanmar’s oil and gas sector

Yedagun offshore natural gas rig.
Yedagun offshore natural gas rig.

INDONESIAN businesspeople are becoming interested in investing in Myanmar’s oil and gas sector, said Dr. Myo Thet, vice chairman of Federation of Chambers of Commerce.
Indonesian businesspeople are more interested in investing in the oil and gas sector than other sectors in the country, he added.
Following the Indonesia-Myanmar Business Matching on Thursday Indonesian businesspeople expressed their willingness to invest in Myanmar and both countries will make gains if that happens, said Dr. Myo Thet.
Indonesia is a land rich in resources much like Myanmar, he added.
Indonesia has a leading role in the oil and gas sector and are also interested in other sectors such as insurance, banking and telecommunications, it has been learned.
With the aim of boosting bilateral trade and investment the Indonesian Embassy Yangon and Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) held an Indonesia-Myanmar Business Matching Programme in Yangon.
More than 20 Indonesian and Myanmar businesspeople gathered at the business matching, discussing a wide range of topics including agriculture, real estate, education, health, livestock and others.
“We invited them to invest in our country. We also explained the available one stop service in the Thilawa SEZ and other economic zones. I think they are interested.” said U Kyaw Dewa, CEC member of the UMFCCI.
According to the investment commission, Indonesia’s investments in Myanmar amount to US$254.6 million. The country stands 13th in Myanmar’s foreign investment line-up.


Ko Moe


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