In a bid to enhance Myanmar’s urban landscape (pictured), its Minister for Construction, U Khin Maung Myint, expressed his country’s willingness to welcome Singapore firms that are keen on developing hotels, high-end condos and serviced apartments in the country.
Myanmar also hopes to tap on Singaporean experts who can develop a comprehensive urban development plan as well as legal and financial framework to promote real estate investments and home ownership in the country.
During a business dialogue organised by International Enterprise Singapore (IE), the Minster said they are also willing to work with firms to build satellite cities and affordable housing.
“Singapore companies have built up extensive experience and industry knowledge in urban development. As Myanmar develops, we hope to tap into Singapore companies’ know-how, and welcome them to participate in our growth as we urbanise.”
Myanmar’s Ministry of Commerce said that Singapore is the country’s third largest trading partner. As of last year, bilateral trade between the two nations reached S$1.63 billion, based on IE figures.
Singapore is also the sixth largest foreign investor in the country, with 74 companies investing US$1.8 billion (S$2.28 billion) as of 2011, according to figures from the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI).
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