Singaporean business firms 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 two days in Yangon, discussing on cooperation in maritime trade, foreign investment, construction, energy and electricity, real estate and health sector.

his was the first business session of Myanmar businessmen with Singaporean counterparts since the new government took office. The two sides exchanged views for potential sectors in Myanmar such as manufacturing of construction materials, micro finance, information technology.

Singapore is the second largest investor in Myanmar after China, with 13.28 billion U.S. dollars 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).

Source : XINHUA