China invests in aviation, communications and garment sectors
News Type: Marketing News
YANGON- Although China had invested in Myanmar businesses such as energy, construction and transport sectors, they’ve also made investments worth USD20.9 billion in aviation, communications and garment industries, says Commercial Attaché Tan Shufu from Chinese Embassy.
He said that business and trade cooperation between Myanmar and China largely stem from mutual interest. China had mostly stood top in the list of Myanmar’s trade partner list and China was the biggest trade market for Myanmar.
In 2018-19 fiscal year, Myanmar-China trade volume was US$11.36 billion. Myanmar had allowed China to invest in Myanmar businesses worth US$20.9 billion until December last year. They were investing in aviation, communications, agriculture, finance, tourism and garment sectors. They had also supported the Myanmar in improving their living standards.
While the Chinese investment was the top in Myanmar for a long time, Singapore overtook China as the investment volume went over US$ 22 billion.
The Chinese President will be visiting to Myanmar on January 17th. During his visit, MoU on border economic cooperation and Kyaukphyu Economic Zone and other projects under BRI may be discussed.
“Myanmar and China is now striving to build the Belt and Road Initiative Project and Myanmar-China economic corridor. The incumbent government formed BRI Project Implementation Leading Committee and State Counsellor Daw Aung San Suu Kyi acted as the Committee’s Chairman,” said Tan Shufu.
Source from: elevenmyanmar.com
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