Myanmar has invited to invest in its oil and natural gas sector, mining sector, agriculture and livestock-based high-value food production sector, energy sector, tourism sector and garment sector, said Chairman of the State Administration Council (SAC) and Prime Minister Senior General Min Aung Hlaing.
Senior General Min Aung Hlaing added the above in his speech at the 7th Eastern Economic Forum-2022 (EEF) being held in Russia on September 7.
“I would like to invite all the businessmen who are attending the forum to make investment in Myanmar’s oil and natural gas sector, mining sector, agriculture and livestock-based high-value food production sector, energy sector, tourism sector and garment sector, fuel storage tank and other infrastructure development sector, rubber-based industrial manufacturing sector, renewable energy sector, science and technology sector, information and telecommunication sector, health sector and banking and business sectors and garment sector. I would also like to say that we are being provided many opportunities for other foreign trade,” said Senior General Min Aung Hlaing.
Regarding the oil and gas sector, 51 offshore oil blocks have been identified in Myanmar, and natural gas has been found in 8 blocks and is being sold domestically and abroad, Senior General Min Aung Hlaing said.
Senior General Min Aung Hlaing said, “Currently, more than two trillion cubic feet of natural gas has been found in the Bay of Bengal, and it will soon be able to be produced commercially. Similarly, a larger gas deposit has also been discovered. Therefore, in the next three years, there will be more development of natural gas-based industries in Myanmar, so I would like to invite all those who are interested in investment.”
In addition, the oil and natural gas reserves that have not yet been discovered in Myanmar, many mineral products such as copper, iron and tin, said Senior General Min Aung Hlaing.
“There are still many undiscovered oil and gas reserves in Myanmar. Similarly, I would like to say that there are many mineral products such as copper, iron and tin that can export to the world market. Myanmar exports agricultural and fishery products to Russia, and in return, fertilizers and fuel and other petroleum products are also being imported. If we can increase cooperation between the two countries in those sectors, it will be more beneficial for both of us,” said Senior General Min Aung Hlaing.
Cooperation programs such as the 7th Eastern Economic Forum-2022, which is currently being held, are supporting the strengthening of relations between friendly countries, making trade and investment partnerships among the countries of the region and mutual engagement and communication activities. The influence of western countries on the eastern region will be resisted in the field of international relations, said Senior General Min Aung Hlaing.
Source: Eleven Myanmar
