Monday, 17 March 2014

Matrade targets projects in Myanmar

KUALA LUMPUR: Malaysia External Trade Development Corp (Matrade) will be targeting various construction projects for Malaysian companies worth RM400 million in Myanmar.

In a statement yesterday, Matrade said these projects include residential, commercial, industrial parks and mixed development projects such as hotels, office buildings and shopping malls.

“Myanmar offers huge business potential and opportunities, especially in the infrastructure and property development sector. Reforms undertaken by Myanmar have impacted positively to its economy and enhance trade and investment flows within the country.

“There is a surge in demand for modern residential and commercial properties due to the changing lifestyle of the people and influx of foreign investors into the country.

“In addition, infrastructure development is also given a priority by the government to facilitate the rapid economic activities taking place in the country and improve the social wellbeing of the 60 million Myanmar population,” Matrade said in the statement yesterday.

It said the owners of these projects, which were identified by Matrade, are Myanmar government- related agencies and the private sector.

It said nine Malaysian construction companies will be joining Matrade for a Specialised Marketing Mission to Myanmar from March 17 to March 21 to meet the project owners and assess the projects identified.

“The Malaysian firms represent various construction sector including building construction, property and township development, infrastructure, roads and highways, water-related services as well as consultancy services such as engineering, architecture, project management and specialised research services,” it said.

Programmes arranged by Matrade for the Malaysian firms include meetings with project owners and participation in the Myanmar Infrastructure Summit and Exhibition, organised in Yangon, the commercial capital.

“Malaysian firms are in the best position to contribute to the development of the country due to its proven track record in undertaking various construction and infrastructure projects internat ionally,” Matrade said.

This is the second time a Specialised Marketing Mission is organised to Myanmar after the first event in 2013, of which RM330 million worth of projects were identified, it said.

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