India-based Greenply Industries will set up a Veneer-Cum- Plywood Unit jointly with the Dagon Seikkan Industrial Zone in Yangon, commercial hub of Myanmar with totally investment, according to the reports of Myanmar Investment Commission (MIC).
The MIC has allowed the permission to Greenply Industries to manufacture the finished wood products in June of this year.
Myanmar is discussing with Asian based
companies for establishment of factories which will manufacture wood and
wood based products as value added items because it will suspend log
export in next year.
The United States and European countries
will invest in Myanmar to build finished wood product factories, the
Ministry of Environmental Conservation and Forestry said.
“The ministry is taking the lead to
promote export of forest products as a value added items. Now, the EU
including the US will invest in Myanmar for building of plywood
factories,” an official from the Ministry of Environmental Conservation
and Forestry said.
source: Eleven Myanmar
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