Myanmar invites Malaysian firms for SME development

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Myanmar has invited large Malaysian firms to cooperate in development of small and medium enterprises (SME) in the country, saying that the ongoing Showcase Malaysia- 2013 will provide opportunity and ensure cooperation between entrepreneurs of both countries, official media reported Friday.

Citing Yangon Region Chief Minister U Myint Swe, the report said bilateral trade between Myanmar and Malaysia has increased year by year and the Malaysian entrepreneurs are mulling to make investment in Myanmar.

Showcase Malaysia-2013, sponsored by Malaysian External Trade Development Corporation (MATRADE) and began in Yangon on Thursday, display construction materials, home decoration items, electronic and household goods, foodstuff and personal goods.

The four-day event will last until this weekend.

Meanwhile, Malaysia-Myanmar ICT Opportunities Seminar and Industrial Business Meeting were launched in late August to plan introduction of information and communication technological (ICT) services in respective sectors to meet high ICT demand in Myanmar.

Myanmar is turning out about 10,000 ICT technicians including about 6,000 from the Universities of Computer Studies yearly.

Under a memorandum of understanding dealing with science and technology initiated in February, Myanmar and Malaysia will also cooperate in areas ranging from exchange of scientists, experts and scholars in implementing joint projects, joint designing, holding joint conferences and seminars training courses and exchange of research findings to science and technology information and documents.

According to official statistics, Myanmar-Malaysia bilateral trade rose 0.7 percent in the fiscal year 2012-13 correspondingly standing 458.82 million U.S. dollars, of which Myanmar’s export to Malaysia accounted for 97.92 million dollars.

Source: mizzima

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