August 19, 2016

Macau to invest over K3 billion in Myanmar’s construction industry

Workers are seen at a construction site in Yangon.
Workers are seen at a construction site in Yangon.

MACAU will invest over K3 billion into the sales and distribution of construction materials within Myanmar, according to the Macau-Myanmar Friendship Association.
“The majority of Macau businessmen are keenly interested in Myanmar’s changing economic climate. Construction materials from Macau such as cement, hammers, iron and household paint will be imported and sold. An investment totaling over K3 billion has been planned, with implementation to commence in May.” said Jose Wong, chair of the Macau-Myanmar Friendship Association.
It is known there is also much interest being generated in Macau for investment in Myanmar’s tourism and industrial zone sectors.
“Construction materials are currently being imported into Myanmar from China and India. I’m not completely sure on the market or technical side of things but interest in our tourism sector from Macau is a good thing. If the Myanmar tourism industry could reach a higher plateau then I think we’d be doing okay.” said U Sein Win Aung, chair of the Myanmar-Chinese Friendship Association. More than 30 Macau businessmen arrived in Myanmar on March 30 for the purpose of investing in Myanmar’s economy. During their trip they will tour around and study industrial zones within the country, it is known.
A welcoming ceremony was held for the aforementioned group at Yangon’s Olympic hotel on March 31.


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