Myanmar allows more Asian firms to produce wood products and foodstuff

YANGON—Firms from Thailand, Hong Kong, India and Singapore will make a joint effort with their Myanmar counterparts to produce advanced wood products and foodstuffs in accordance with the Foreign Investment Law, reports say.

The production processes will be implemented in Dagon Seikkan and Hlaingthayar industrial zones in Yangon Region, and in Katha Township of Sagaing Region.

This follows a Myanmar Investment Commission meeting held on November 26 in Nay Pyi Taw, which approved operations by those industries subject to comments and approvals by the respective regional government bodies, ministries and organisations.

India’s BS Progressive Company will enter a joint venture with Myanmar’s National Export-Import Company to manufacture advanced wood in Dagon Seikkan Township.

MAK Plywood Industries, another Indian firm, will fully invest in the wood products manufacturing industry in the Dagon Seikkan industrial zone.

Each firm from Singapore, Hong Kong, and Thailand will enter joint ventures with respective Myanmar counterparts to produce sugar, ethanol, and fast foods.

Alpha ECC (Myanmar) Private Limited, a consortium of Vietnam, Myanmar, and India firms, will operate offshore oil and gas platforms and related services.

source: Eleven Myanmar

http://www.elevenmyanmar.com/business/4317-myanmar-allows-more-asian-firms-to-produce-wood-products-and-foodstuff