Chinese investors proposed a Myanmar – China Industrial Zone to be implemented in Myanmar

Chinese investors have proposed a Myanmar-China industrial zone to be implemented in Myanmar, according to U Zaw Min Win, President of the Union of Myanmar Federation of the Chamber of Commerce and Industry (UMFCCI), at the monthly regular meeting between the Vice President of Myanmar and local business leaders.

“They have completed such zones in other countries. Therefore, we are ready to welcome responsible businesses,” he added.

Chines investors have made investments in the garment sector in Myanmar, a labor intensive process.

The Chinese Embassy in Myanmar and Chinese investors requested a forum be held in the same way Myanmar did for Japanese and American investors when they held the conference called the Myanmar-Japan-American Responsible Business Forum on August 20.

Myanmar has a number of special industrial zones already, such as Thilawa Special Economic Zone. This zone was developed by a joint venture, initially between the Japan External Trade Organization and the Union of Myanmar Federation of Chambers of Commerce and Industry. China wants to build such zone in Myanmar.

China has been one of the biggest investors in Myanmar after Singapore. Since the late 1980s, China has made 372 investments worth about $20.8 billion, according to the Directorate of Investment and Company Administration.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/chinese-investors-propose-myanmar-china-industrial-zone )

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