Vietnam eyes early Myanmar investment
Vietnamese companies are showing interest to be among the first movers in Myanmar after the country has issued its new foreign investment law.
The Association of Vietnamese Investors in Myanmar, which comprises around 20 Vietnamese businesses including PetroVietnam, Vietnam Airlines, and military-run telecom major Viettel who are already active in the country, said that the companies are wanting to expand in the market of more than 60 million people.
Among the new companies to enter Myanmar are Ho Chi Minh City-based urban developer and retail distributor C.T Group, who plans to expand the distribution of its Vietnamese product range in Myanmar, which currently covers 50 brands. It has signed a joint venture with Myanmar’s Super One International Trading Company to distribute Vietnamese goods at supermarkets. The group is also investing in a shopping mall in Myanmar, expected to start operating in two years.
The Nam Kim Steel Company from the southern industrial province of Binh Duong has started to sell steel roofing systems to Myanmar.
Property firm Hoang Anh Gia Lai said it is working on a $300 million multi-purpose complex in Yangon. The project includes a five-star hotel and a shopping mall which are expected to be finished in three years, while two office buildings and eight residential blocks will be ready in six or seven years, Thanh Nien newspaper reported.
An Giang Plant Protection JSC is another early bird that has started a joint venture worth around $55 million with Myanmar’s Green Asia, building rice mills and providing rice seeds, fertilisers and pesticides.
Vietnam mainly exports chemicals, plastic products and garments, pottery, iron and steel and machinery to Myanmar, while Myanmar sells lumber and wood products, seafood, fruits, vegetables and rubber to Vietnam.
[caption id="attachment_5763" align="alignleft" width="203"] Vietnamese C.T. group is building a shopping mall in Yangon[/caption] Vietnamese companies are showing interest to be among the first movers in Myanmar after the country has issued its new foreign investment law. The Association of Vietnamese Investors in Myanmar, which comprises around 20 Vietnamese businesses including PetroVietnam, Vietnam Airlines, and military-run telecom major Viettel who are already active in the country, said that the companies are wanting to expand in the market of more than 60 million people. Among the new companies to enter Myanmar are Ho Chi Minh City-based urban developer and retail distributor...
Vietnamese companies are showing interest to be among the first movers in Myanmar after the country has issued its new foreign investment law.
The Association of Vietnamese Investors in Myanmar, which comprises around 20 Vietnamese businesses including PetroVietnam, Vietnam Airlines, and military-run telecom major Viettel who are already active in the country, said that the companies are wanting to expand in the market of more than 60 million people.
Among the new companies to enter Myanmar are Ho Chi Minh City-based urban developer and retail distributor C.T Group, who plans to expand the distribution of its Vietnamese product range in Myanmar, which currently covers 50 brands. It has signed a joint venture with Myanmar’s Super One International Trading Company to distribute Vietnamese goods at supermarkets. The group is also investing in a shopping mall in Myanmar, expected to start operating in two years.
The Nam Kim Steel Company from the southern industrial province of Binh Duong has started to sell steel roofing systems to Myanmar.
Property firm Hoang Anh Gia Lai said it is working on a $300 million multi-purpose complex in Yangon. The project includes a five-star hotel and a shopping mall which are expected to be finished in three years, while two office buildings and eight residential blocks will be ready in six or seven years, Thanh Nien newspaper reported.
An Giang Plant Protection JSC is another early bird that has started a joint venture worth around $55 million with Myanmar’s Green Asia, building rice mills and providing rice seeds, fertilisers and pesticides.
Vietnam mainly exports chemicals, plastic products and garments, pottery, iron and steel and machinery to Myanmar, while Myanmar sells lumber and wood products, seafood, fruits, vegetables and rubber to Vietnam.
