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More Malaysian Investors

The Star
Myanmar invites Malaysian investors to set up SMIs

By Jonathan Kwok 

PENANG: Myanmar hopes to attract more foreign investors, including
Malaysians, to set up or develop small-medium industries (SMIs) for
export-based products, a Myanmar business delegation leader
said in Penang yesterday. 

 U Htein Win, who is heading the Myanmar Industrial Association business
mission delegation, said Myanmar was currently more interested in setting up
SMIs rather than huge high-tech industries. 

 "We know Malaysia is very much ahead of us technologically and we hope
local investors will transfer some of their technology and expertise to set
up SMIs in Myanmar. We intend to develop our marine,
forest, mining and agriculture products sector to increase exports of value
added products and improve the country's trade imbalance," he said. 

 U Htein said this during a meeting with members of the Penang Chinese
Chamber of Commerce (PCCC). 

 He said that at the moment, raw materials made up the bulk of Myanmar's
exports.  Malaysia is the third biggest investor among the Asean countries,
after Singapore and Thailand. 

Malaysia has investments in Myanmar worth US$524.17mil while Singapore and
Thailand have invested US$1.22bil and US$1.16bil respectively. 

 "Among the major Malaysian investors in Myanmar are the Hong Leong group
and Petronas," U Htein said, adding that most Malaysian investments were in
real estate, hotels, etc, but not much in the manufacturing line. 

 The 22 member Myanmar business delegation will leave today for a five-day
visit to Kuala Lumpur before heading to Singapore and Thailand to promote
bilateral trade and investments.  

A L T S E A N - B U R M A
ALTERNATIVE ASEAN NETWORK ON BURMA
*tel: [662] 275 1811/693 4515 *fax: [662] 693 4515 *e-mail: altsean@xxxxxxxxxx
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