Vietnam, Myanmar boost investment co-operation

A conference seeking solutions to boost Vietnam’s investment in Myanmar as well as bilateral trade cooperation was held in Nay Pyi Taw in Myanmar on January 15, according to the “New Light of Myanmar” newspaper.

The January 16 newspaper said that during the conference, attended by U Soe Tha and Thurein Zaw, Minister and deputy Minister of the Myanmar Economic Development and State Planning and Vietnamese Deputy Foreign Minister Doan Xuan Hung, the two sides discussed bilateral economic cooperation prospects.

Also, on January 15, Myanmar’s Prime Minister Thein Sein received Deputy Foreign Minister Doan Xuan Hung and Deputy Defence Minister Nguyen Chi Vinh.

The Myanmar statistics showed that by the end of September 2009, Vietnam had invested US$23.4 million in Myanmar. Investment activities between the two countries started in late 1988.

Vietnam is Myanmar’s 16^th largest export market. The country imports agro-forest, seafood products and electronic components from Myanmar and exports steel, electronic items, pharmaceuticals, industrial goods, chemicals, computers and computer spare parts.

In the first nine months of 2009, Vietnam-Myanmar bilateral trade value reached US$60 million. The two countries are planning the launch of a direct air route to promote bilateral economic and trade cooperation.

Source : http://english.vovnews.vn/Home/Vietnam-Myanmar-boost-investment-cooperation/20101/111803.vov