MIFER Union minister visits investment activities in Yangon

Union Minister for Investment and Foreign Economic Relations U Aung Naing Oo visited the TYTC Services Co., Ltd, which operates a local industrial waste collection and disposal service and manufactures equipment required for this business with the permission of the Myanmar Investment Commission in Hlinethaya Township, Yangon Region, yesterday morning.
Directors of the company reported on the preparation to start work after obtaining permission from the Myanmar Investment Commission, current challenges and further investment matters. The Union minister coordinated for the immediate start of the business with relevant departments and organizations, and with the relevant Industrial Management Committee and business owners for the waste collection and disposal. He also gave necessary suggestions on further expansion of the business.
Afterwards, the Union minister arrived at Colgate-Palmolive (Myanmar) Limited, which produces and distributes oral and personal health products in Shwepyitha Township and observed the operation of the industry. The Union Minister discussed ways to assist in increasing import substitution production, and carrying out dental and oral health awareness programmes as the company’s corporate social responsibility.
In the afternoon, the Union minister arrived at SC Auto (Myanmar) Co., Ltd and the directors of the company presented the vehicle production condition, distribution to the local market and exports of manufactured buses. The Union minister discussed the programmes of the Ministry to assist in expanding markets and vehicle exports, and further cooperation for research and development, the production and distribution of electric passenger vehicles in the domestic market and facilitation for necessary vehicle parts importation.
SC Auto is assembling and selling SC Neustar brand European standard passenger buses with the 100-per-cent foreign investment in the Yangon Industrial Zone in Mingaladon Township of the Yangon Region. The plant can produce up to 600 buses per year using the CKD system and is preparing to export 50 per cent of its output to ASEAN countries. The company is researching electric buses in Singapore and is preparing to install electric buses in Myanmar in a few years. — MNA