Myanmar to collaborate with Hong Kong on BRI projects

Myanmar is set to cooperate with Hong Kong in addition to other countries along China’s Belt and Road Initiative, announced Minister of Investment and Foreign Economic Relations U Thaung Tun during the Fourth Belt and Road Summit 2019 in Hong Kong on September 11 and 12.

The summit was organised by the government of Hong Kong and the Hong Kong Trade Development Council to promote business collaboration through the Belt and Road platform. More than 5800 representatives from 69countries attended the event.

“Hong Kong and Myanmar are strategically located along the Belt and Road project. Hong Kong is a major economic entrance to China, a central area for logistics and is also a centre for financial services. On the other hand, Myanmar is a fast-growing country and so will cooperate with Hong Kong and other countries along the Belt and Road project,” U Thaung Tun said.

He said Myanmar’s Sustainable Development Plan will work to include such sectors as investment, finance, logistics, and industry in implementing the Belt and Road Initiative, a global development strategy adopted by the Chinese government involving infrastructure development and investments in 152 countries and international organisations in Asia, Europe, Africa, the Middle East, and the Americas.

“Hong Kong is a strategic location with a lot of potential and will participate in the BRI through cooperation on policies and projects for the BRI by sharing extensive knowledge about the main prospects of Hong Kong, and promotion of Hong Kong’s service industry,” said Chief Executive of Hong Kong Carrie Lam Cheng Yuet-ngor.

Multi-government cooperation, and the creation of economic opportunities between the relevant senior officials of the countries involved in the BRI were discussed by the representatives at the conference.

At present, certain restrictions are being removed for both local and global trade, while the policies which protect the interests of their respective countries being practiced. Myanmar is putting its efforts not only into facilitating trade with the ASEAN countries but also with those participating in the conference, said U Thaung Tun.

During the visit, U Thaung Tun met with Lam and Mr. Edward Yau, Secretary of Commerce and Economic Development of the Hong Kong, and discussed the promotion of investment and human resources development between the two countries.

Earlier this month, Yangon Region Chief Minister U Phyo Min Thein presided over the launch of the Myanmar-Hong Kong Chamber of Commerce and Industry (MHKCCI) to promote responsible investment in Myanmar and attract market entrants into the country.

“Luen Thai Garment from Hong Kong is already employing some 8000 workers in Yangon, and new members of the Hong Kong manufacturing sector are most welcome,” the Chief Minister said.

Source: Myanmar Times

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