Singapore investors explore opportunities in Myanmar construction
Over the years, the Myanmar government has stepped up its efforts to bring in foreign direct investment (FDI) to the country. Being more pro-business and open to FDI, potential opportunities for foreign companies willing to invest in Myanmar are vast, particularly in the construction industry as one of the main pillars of the economy.
Singapore is Myanmar’s largest foreign investor with a cumulative investment of US$22.1 billion.Transport infrastructure opportunities include trunk road network modernisation, expansion of interconnectivity through roadways and elevated highways, improving access to tier two and three cities via bridges and commuter rails, and alternative transport options such as water-taxi or structured bus system.A total of 16 industrial zones and the Thilawa Special Economic Zone in Yangon are listed as presenting potential opportunities for investors looking to manufacture in Myanmar and access the significant customer base in Yangon.
The bulk of the 113 investments in the Thilawa SEZ are focused on manufacturing – there are 89 entities accounting for a 79pc share – followed by logistics both in terms of volume as well as value of investments.The SEZ allows both 100 percent foreign investments and joint-Myanmar-foreign ventures to establish operations in Thilawa. Japan leads as an investor in terms of the number of enterprises permitted to establish their presence in the Thilawa SEZ with 39 entities as of August 2019.
Source: Myanmar Times
346total visits,1visits today