Mandalay’s business ‘match-making’ service gains traction

The Mandalay Region Chamber of Commerce and Industry’s effort to help foreign investors link up with local companies for possible cooperation is generating many enquiries, said U Okkar Kyaw, the group’s secretary.

Many of the inquiries to the project, which was initiated at the end of January, concerned investment cooperation, he said.

The chamber also helps foreign investors link up with regional government offices that can answer their queries, U Okkar Kyaw said.

“When companies seeking cooperation with either local or foreign investors contact us, we arrange a meeting and link them up with the government,” he said.

U Okkar Kyaw said the chamber hopes more foreign investments would generate more jobs in the region, and help the government’s development efforts.

“The chamber is cooperating with the Myanmar Investment Commission, Asia Foundation and UK Aid to draft a Mandalay Region investment strategy,” he said. “The plan includes potential investment opportunities and current projects. We also received suggestions to include the IT and service sectors as well.”

Mandalay Chief Minister U Zarni Aung said foreign direct investment in Mandalay has doubled since the new government took over in 2016.

There were 79 foreign investment projects valued at US$3.97 billion (K5.77 trillion) in the region in the fiscal year that ended in September 2019, and 179 local investment projects worth K5.25 trillion.

As of the end of September 2019, Yangon Region remained the top destination for foreign investment, followed by Mandalay.

Source: Myanmar Times

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