JavaScript is off. Please enable to view full site.

Local infrastructure developer eyes IZ development in Myanmar

Local infrastructure developer eyes IZ development in Myanmar

Wednesday, September 18, 2013, 22:30 GMT+7

Ho Chi Minh City-based C.T Group has submitted the plans to develop Vietnam – Myanmar Industrial Zone (IZ) in a recent meeting with H.E. Nyan Tun - Vice President of Myanmar, according to a local newspaper.

The IZ will accommodate many Vietnamese manufacturers, since it will offer them “the opportunities to expand the commodity market into Myanmar by directly relocating production facilities to this industrial zone,” the Naypyidaw-based New Light of Myanmar newspaper reported.

The need for an appropriate production base is very critical, and Vietnamese manufacturers find it very difficult in searching such sites where goods can be produced in Myanmar as a potential market, according to the newspaper.

As a result, the recent move of C.T Group is enthusiastically supported by Vietnamese entrepreneurs.

C.T Group is aggressively implementing many business activities in Myanmar market, the Naypyidaw-based newspaper reported.

It is also expanding to Indonesian market with the establishment of C.T VIM Co with an aim to develop goods distribution system in the three markets, a move is said to be a preparatory step for the milestone of the ASEAN common market establishment in 2015.

Many other Vietnamese realty developers want to follow Hoang Anh Gia Lai Group after it set the foothold in Myanmar’s realty sector in June this year with the construction of the US$440 million complex project of Hoang Anh Gia Lai Myanmar Center in downtown Yangon City.

tuoitrenews

More

Read more

;

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Latest news

New developments in Vietnamese e-book market

With technological advancements and the accelerated pace of modern life, the number of e-reader users in Vietnam will continue to rise, signaling the expansion of various products and services