Chinese companies to invest in various industrial projects

Myanmar and Chinese authorities have signed an agreement to cooperate on several projects including mining and pharmaceutical production.

The agreement was signed at the 13th Myanmar-China border trade fair held at Jiegao International Convention & Exhibition Centre in Ruili on Saturday.

The Myanmar delegation was lead by Khin Maung Lay, Director of Department of Commerce and Consumer Affairs and the Chinese delegation was headed by deputy governor of Dehong Prefecture.

The projects are worth of more than US$ 436 million. Companies from Myanmar and China will invest US$ 6 million to export machinery, textile and pharmaceutical products, and another US$ 6 million to import spare parts for diesel-fuelled machines.

Another US$ 4.2 million will used to import rubber and US$ 33.77 million will spend on importing agricultural products.

A further US$ 153 million will go towards mining and importing minerals and US$ 11 million will be used to import farming products. While US$ 40 million will be used for fisheries and agricultural products and US$ 6.6 million will be used for chemical production.

source: Eleven Myanmar

http://www.elevenmyanmar.com/business/4381-chinese-companies-to-invest-in-various-industrial-projects