India-based Greenply Industries will set up a Veneer-Cum- Plywood Unit jointly with the Dagon Seikkan Industrial Zone in Yangon, commercial hub of Myanmar with totally investment, according to the reports of Myanmar Investment Commission (MIC).
The MIC has allowed the permission to Greenply Industries to manufacture the finished wood products in June of this year.
Myanmar is discussing with Asian based companies for establishment of factories which will manufacture wood and wood based products as value added items because it will suspend log export in next year.
The United States and European countries will invest in Myanmar to build finished wood product factories, the Ministry of Environmental Conservation and Forestry said.
“The ministry is taking the lead to promote export of forest products as a value added items. Now, the EU including the US will invest in Myanmar for building of plywood factories,” an official from the Ministry of Environmental Conservation and Forestry said.
Source: Eleven News Media