Vietnam, Myanmar boost trade ties
(VOV) - Myanmar Vice President U Nyan Tun held a working session with the Association of Vietnamese Business Investors in Myanmar (AVIM) in Hanoi on March 20, with the aim of boosting trade between the two countries.
Addressing the event, U Nyan Tun said that as of February 2013, Vietnam ranked 9th among world investors in Myanmar, with a total investment of US$370 million, accounting for just 1 percent of the country’s total FDI.
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He also affirmed that the Myanmar Government will continue to create favorable conditions for foreign businesses including those from Vietnam to operate in the country by improving the business environment as well as regulations.
According to AVIM Chairman Tran Bac Ha, Myanmar is an emerging market for processing technologies, consumer goods and agricultural products.
Some of Vietnam’s largest conglomerates, including Hoang Anh Gia Lai, Simco Song Da and Bank for Investment and Development of Vietnam (BIDV), have all launched operations in Myanmar.
The two countries aim to raise two-way trade turnover to US$500 million by 2015.