Wednesday, 20/11/2019 17:49 (GMT+7)
Vietnam now ranks 7th among 50 countries and territories investing in Myanmar with total registered capital of more than USD2.16 billion in 25 projects, according to the General Department of Investment and Enterprise Management of Myanmar.
Participants at the event. (Photo: congthuong.vn)
So far, over 200 Vietnamese companies have been doing businesses and pouring capital into the market under various forms.
This information was revealed in a conference on prospects of the Myanmar market in the integration period, held by the Ho Chi Minh city Centre for Trade Promotion on November 19th.
Vietnamese Commercial Counselor in Myanmar Vo Thi Ngoc Diep said that business in Myanmar is now advantageous, due to production of the market being weak and lacking, while many areas of commodities still have space to develop and there has been no technical barriers for imported goods.
Myanmar is also an ASEAN member with import tax incentives for products within the region and with regional partners; thus there are similarities in culture and conditions to develop.
Specifically, Vietnamese brands which pioneer the market are high-quality products such as Lioa, Hanvico, Hoang Anh Gia Lai, BIDV (Bank for Investment and Development of Vietnam), Dien Quang, and Vietnam Airlines.
Aiming to help businesses to better exploit the market, Mr. Pham Thiet Hoa, Director of the Ho Chi Minh city Centre for Trade Promotion, said that since 2011, the center has provided updated information about the market, economics, trade, administrative procedures and tax through the issuance of the Market Information and Trade Handbook in Myanmar./.
BTA