U Thaung Tun, Union Minister for Investment and Foreign Economic Relations delivered a keynote address yesterday via videoconferencing at the Matchmaking Conference on China (Zhejiang)-Myanmar Investment Cooperation Promotion, co-organized by the China Enterprise Chamber of Commerce in Myanmar, in collaboration with the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and the China Zhejiang Investment Centre.
The Union Minister took the opportunity to highlight China-Myanmar relations, noting that over the past decade, Myanmar and China have strengthened ties of friendship, to the mutual benefits of both countries.
“The Government of Myanmar recognizes the important contribution that China can and does make to Myanmar’s development aspirations – from agro-industry to manufacturing, from infrastructure to energy.”
The Union Minister used the opportunity to highlight the range of investment promotion and reform measures currently underway in Myanmar and the recent signing of the Regional Comprehensive Economic Partnership (RCEP) that will together facilitate the expansion of trade relations between Myanmar and Zhejiang Province and China more broadly.
China has been the largest trading partner and the major source of FDI for Myanmar. Within China, Zhejiang Province, which is located in the south of Yangtze River Delta, covering 1% of the total land area of China with a population of 57 million and 6.3% of the national GDP. The private economy of Zhejiang is highly developed. Among China’s Top 500 Private Enterprises, there are 92 Zhejiang enterprises, ranking 1st for 21 years. It has Eight “Trillion-Industries”, including Information, Environmental protection, Health, Tourism, Fashion, Finance, High-end equipment manufacturing and Cultural industry. They are also pioneers in investments abroad including in labour-intensive industries.
The conference was attended by over 140 participants including the Director-General and Senior Officials from the Ministry of Investment and Foreign Economic Relations and representatives of the business community of Myanmar and China.—MNA