France is preparing to further invest in Myanmar’s infrastructure as well as in other sectors, according to reports following the visit of France's foreign trade minister.
Last month, President Thein Sein visited France where he met with
French President Francois Hollande and discussed matters of bilateral
cooperation including promoting business and trade, the development of
education, and health sectors and the settlement of remaining debts.
France has already invested US$ 469 million since the current
administration came into office. Nicole Bricq, France’s Foreign Trade
Minister, visited in Myanmar at the end of July and signed agreement to
cancel Euro 550 million of the Euro 1.1 billion loan that Myanmar owes
France.
"About 20 representatives from business organisations are here with me.
They have the intention to invest in Myanmar and export products from
here. Now French companies are starting to invest in Myanmar.
We have to thank the France trade commission UBIFRANCE for the
efforts they have made," said Nicole Bricq at a conference held at the
French Embassy in Yangon on July 31.
Other businessmen present at the conference also discussed investing in Myanmar.
France-based Total Company is now operating in Myanmar’s oil and
natural gas sectors and other companies are planning to invest in basic
infrastructure developments including Thilawa Special Economic Zone.
According to the Foreign Investment Law, there are 32 international
companies investing in Myanmar and their investment trade volume
amounted to US$ 41 billion until the end of June of this year.
source: Eleven Myanmar
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