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PM Nguyen Tan Dung praises Vietnamese investors in Myanmar

PM Nguyen Tan Dung praises Vietnamese investors in Myanmar

THUrsday - 16/07/2015 15:38

Prime Minister Nguyen Tan Dung attended a ceremony on June 23 to mark the completion of the first phase of construction of the Hoang Anh Gia Lai Myanmar Centre in Myanmar during his visit to the country to attend the 7th Cambodia-Laos-Myanmar-Vietnam (CLMV) Summit and the 6th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) Summit.
The PM also participated in a similar event on the same day to inaugurate activities of the financial and insurance companies of the Bank for Investment and Development of Vietnam (BIDV) in Myanmar.
 
He praised the Association of Vietnamese Investors to Myanmar (AVIM), BIDV and the Hoang Anh Gia Lai Group for their efforts to promote trade and investment activities in Myanmar, saying positive business results obtained by Vietnamese firms in the country contributed practically to the bilateral relations. While highlighting the potential for the two countries to boost their co-operation, he urged AVIM to increase its role in supporting Vietnamese firms to expand business and investment in Myanmar, focusing on finance, banking and real estate.
 
AVIM should team up with relevant ministries and sectors of the two countries to map out measures to address difficulties in implementing bilateral cooperation agreements, the PM stressed.
The Vietnamese leader also thanked the Myanmar government and Yangon regional authorities in particular for facilitating Vietnam’s investment projects in the country. Vietnam hopes to strengthen all-around links with Myanmar, but especially in the 12 priority sectors stated in the Joint Statement on cooperation between the two countries signed in April 2010, the PM said.
On the occasion, the PM Dung witnessed the signing of a memorandum of understanding on co-operation between BIDV and Myanmar’s Global Treasury Bank and a US$30 million credit contract between BIDV and SMIDB bank which will serve Myanmar’s small and medium-size enterprise development.
 
Invested by the Hoang Anh Gia Lai Group, the Hoang Anh Gia Lai Myanmar Centre has been the largest foreign-invested project in real estate in Myanmar so far with US$440 million in investment. Once completed, it is expected to become an architectural highlight of Yangon. The first phase saw the construction of a shopping centre, two 27-storey office buildings and a hotel with more than 400 rooms. The second phase of the project began this month on 63,800 square metres, with four 28-storey buildings for apartments and for-rent office to be built, and is scheduled to be completed in the second quarter of 2017.

Source: www.insurance.einnews.com


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