International corporations and
businesses are eyeing investment opportunities in infrastructure of the
country, businessmen said recently.
Foreign companies of various sizes are
bidding tenders for state projects undertaken for infrastructural
development, a local businessman running joint-ventures with foreign
companies said.
He said, “Foreign firms bid tenders for
airport, sea port, hotel and industrial zone projects, and the trend may
continue. Current tenders are still in process.”
“We are prepared to make investments
the way China and Thailand do in natural resources explorations and
building infrastructures in Myanmar. In addition to manufacturing and
industrial factories, we will prepare ourselves ready to involve in
telecommunication, industrial zoning, port constructions,
transportation, energy, hydro-power, and information technology. Still
it all depends on the policy of the Myanmar Investment Commission,” a
responsible person from a Japanese corporation said.
Local businessmen assumed that there are
more chances of winning a project for them too now that the
international firms involve in tenders (requiring to be more systematic,
transparent and fair). In the past, state run project tenders were
usually bid and won by local companies mostly.
They added that among the foreign tender-bidders the Japanese corporations are the most.
After decades of isolations, Myanmar has
recently opened up this year and is striving for its economy
developments. Having passed its foreign investment law in November, the
country is attracting international businesses.
At the same time, foreign firms are
entering Myanmar through joint ventures with local counterparts in
certain economic sectors such as agriculture, manufacturing, garment
factories, hotel and tourism, transportation, sales distribution,
advertising, technology, banking and other professional services.
Analysts said that the main hindrance for investments is the lack of efficient and effective infrastructures in the country.
source: Eleven Myanmar
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