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Vietnam, Myanmar seek ways to increase business ties
Vice President of Myanmar U Nyan Tun met with the Association of Vietnamese investors in Myanmar on March 20, to discuss how to accelerate trade and investment ties between the two countries.
U Nyan Tun, who is visiting Vietnam, announced at the meeting in Hanoi that as of February, 2013, Vietnam had invested $370 million in his country.
The sum accounts for one percent of total foreign investment in Myanmar and makes Vietnam the 9th biggest investor in the country, said the leader.
Recognizing the importance of foreign investment, Myanmar has focused on addressing difficulties and technical barriers facing foreign investors, including those from Vietnam, U Nyan Tun told the Vietnamese businesses.
In order to attract more foreign investment, the Government of Myanmar will continue creating favorable conditions for foreign investors, he said, adding that improving the investment and business environment, and completing relevant legal regulations are his country’s priorities.
According to Chairman of the Association Tran Bac Ha, Vietnamese businesses are interested in Myanmar.
Recently, 25 business delegations, including Hoang Anh Gia Lai Group, Song Da Simco and the Bank for Investment and Development of Vietnam (BIDV) – strong and prestigious businesses in Vietnam - visited Myanmar to seek business opportunities.
The chairman said companies from the two sides are trying for $500 million in two-way trade turnover by 2015.
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