Dimapur, May 17 (EMN): A MoU on business cooperation between Southern India Chamber of Commerce and Industries and Mandalay Region Chamber of Commerce and Industries has been signed at Mandalay on May 4, reported through a press release from UMFCCI (Union of Myanmar Federation of Chamber of Commerce and Industries).
U Aung Than, Chairman of Mandalay Region Chamber of Commerce and Industries said at the signing ceremony, “Myanmar is located in the geological strategic position which is the trade partner of India and especially Mandalay Region is a wide market and it is easy to communicate and transport to India. Moreover MRCCI is ready to tie up with Indian business partners from neighboring States such as Manipur, Nagaland and Assam. Thus this MoU has been signed for the development of businesses in Mandalay Region,” it added.
Nandan Singh Bhaisora, Consul General of Consulate General of India, Mandalay said that Myanmar is a gate of India to Southeast Asia and the major key for Look East Policy of the government of India and so SICCI understands that the higher level cooperation with Myanmar is needed and this cooperation will get advantages for both sides. Chairman of SICCI said, “This is the second signing ceremony of MoU between MRCCI and SICCI in the time of the new government. I hope there will be warm mutual discussion in Business Meeting to be held after this signing ceremony.”It further state that, a business meeting was held after the signing ceremony to be able to discuss between the businessmen from both sides for each and every business and it was attended about 150 businessmen there. Myanmar Businessmen expressed that the business opportunities are launching in Myanmar especially in Mandalay and Sagaing Regions, government is encouraging and the FDI law was amended releasing and give some incentive to invest in such areas, people from bordering states such as Manipur, Nagaland and Assam are invited to invest in Myanmar. Being as a lease developing country in Myanmar investment opportunities are construction on road, bridges, schools and hospitals of Government’s projects, urban development projects, housing projects, water and sanitation, education and Health sectors, agricultural projects, power plant etc.
In private sector, contract farming, establishing education infrastructure, upgrading on rice mill, oil mill, and services sector likes hotel and restaurant and its training school, and other possible sectors.
The Government of India is also facilitating various capacity-building initiatives through Exim bank for the investors to Myanmar.
