A company from Vietnam signed an
agreement with a company Myanmar to build a brick factory within two
months early this month, according to the Republic of the Union of
Myanmar Federation of Chambers of Commerce and Industry.
A Vietnamese delegation led by Mr Truong Tan Sang of the Vietnam arrived in Myanmar on November 29.
During the stay in Myanmar, the Vietnamese and Myanmar businessmen signed the agreement on December 1.
Myanmar company, Aung Pacific Mining & Trading Company Ltd, will distribute bricks for local consumption.
“We must invest the land for the
establishment of the factory and the Vietnamese company must be
responsible for the construction of the factory and provide
technological assistance to us and we will have to distribute the bricks
produced from the factory in the country,” managing director Aung Zaw
said.
Vietnam made investment worth USD49.796 million in Myanmar until the end of October.
Myanmar-Vietnam trade volume stood more
than USD143 million in 2011-2012. However in this year from April 1 to
the end of September, it has reached USD66.32 million.
During the Vietnamese President’s visit
to Myanmar, both sides signed five MoUs worth USD543 million to gear up
bilateral economic cooperation between the two countries.
source: Eleven Myanmar
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