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Myanmar to establish steel JVs with Vietnam

THUrsday - 15/05/2014 02:21

He proposed Vietnam invest in Myanmar’s garment industry and encourage its chemical manufacturers to boost exports to the country.

Myint said the purpose of his Vietnam visit is to seek partners to promote bilateral industrial cooperation, especially in chemical, fertilizer, steel, and agricultural machinery manufacturing.

He had working sessions with leaders of the Vietnam National Chemical Group (Vinachem), the Vietnam National Textile and Garment Group (Vinatext), the Vietnam Steel Corporation (Vnsteel), and the Bank for Investment and Development of Vietnam (BIDV).

He revealed that BIDV will lend the Myanmar bank for small and medium businesses under a memorandum of understanding due to be signed in late May.

Vietnam Minister Vu Huy Hoang expressed hope Myanmar will soon promulgate its foreign investment law to facilitate Vietnamese investment in the country.

Source VOV

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