The Singapore-based GAC (Singapore) Pte Ltd has shown interest to invest in Myanmar’s public transport sector.
Officials of the company conveyed their
interest during a meeting with Directorate of Investment and Company
Administrator on December 5.
If the plan works out, Singapore will be the second country after Japan to invest in the sector.
During the December 5 meeting, the GAC
officials expressed their interest to cooperate with Myanmar’s Road
Transport Administration Department.
Japan entered Myanmar’s public transport
sector this year. As part of the trade cooperation, Japanese buses have
already arrived in Yangon, sources said.
The third biggest trading partner of
Myanmar, Singapore does not have much investment here. But once European
Union relaxed sanctions on Myanmar early this year, trades between the
two countries is expected to decline.
“They (Singapore) are concerned about
it. So, they are now turning to investment,” a representative of Myanmar
Fishery Federation said requesting not to be named.
Apart from planning to invest in the
gasoline stations in Myanmar, Singapore businessmen are planning to
enter the transportation sector now, he said.
Singapore’s investment in Myanmar is
only over US$1.85 billion until the end of October while its total trade
amount was over $3 billion in the 2011-2012 fiscal year.
source: Eleven Myanmar
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