South Africa interests to invest in Myanmar

YANGON—A business forum was held at the Park Royal Hotel this week to increase cooperation and boost trade ties between Myanmar and South Africa.

A business delegation led by South Africa’s Deputy Minister for International Relations and Cooperation, Ebrahim Ismail Ebrahim, is visiting Myanmar to explore investment possibilities here and to invite the country’s investors to investigate business possibilities in South Africa.

“We are coming to find out what kind of businesses we can invest in here because Myanmar is adopting an open door policy for its business sector. We want to show Myanmar investors that there are good opportunities for investment in South Africa. For our part here, we intend to invest in all sectors including mining, consumer production and business infrastructure,” said Ebrahim.

This week’s forum marks South Africa’s first business venture into Myanmar, where it has made no investment up to now.

Trade between the two countries was just over US$3.2 million (Ks 3.14 billion) last year.

Source: ELEVEN Myanmar

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