21 September 2018
A meeting on Vietnam and Myanmar Trade and Investment Promotion: Opportunities and Challenges took place at UMFCCI in Yangon on Friday.
It is jointly organized by the republic of the union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and the Vietnam-ASEAN Economic Development Cooperation Association (VASEAN).
The meeting aims to strengthen the two countries’ trade and investment relations and to present current situation and prospects as well as trade and investment opportunity in Myanmar.
Joint Secretary General, UMFCCI, Kyaw Dewa said “The trading volume between the two countries is declining compared to two years ago. However, Vietnam stands at 7th in foreign investment sector of our country. The new Myanmar Companies Law and Myanmar Investment Law have strengths so I will explain about it today. Import products from Vietnam are mostly related to construction and machineries. The main challenge in Trade sector now is a raise in currency exchange rate.”
The recent data shows that Vietnam stands as the 7th country with largest investment in Myanmar with over 2 billion US dollars investment in 20 Myanmar businesses which is 2.74% of foreign investment in Myanmar.
Back in early September at World Economic Forum held in Vietnam, The State Counselor Daw Aung San Suu Kyi and about 35 businesspersons from Myanmar met and made discussions with businesspersons from Vietnam on trade and investment sector.