Indonesia SOEs Set to Expand Into Myanmar

Yangon. Indonesian state-owned mining companies Timah and Aneka Tambang and lender Bank Negara Indonesia are finalizing business expansion plans in Myanmar.

Ito Sumardi, Indonesia’s ambassador to Myanmar, said on Saturday that BNI would set up a representative office in the country either this month or next, without taking on local partners.

Tri Hartono, secretary of Aneka Tambang, a diversified metals miner, said the company was waiting for the Myanmar government to issue it an exploration permit, while Tmah secretary Agung Nugroho said the tin miner was working with a with a local partner in Myanmar.

He added the company had idropped a plan to build a smelter because the location previously promised to the company had proved “inadequate,” and would instead acquire an existing smelter in the Mekong Delta.

The spate of new projects are expected to boost the bilateral trade value between the two countries to $1 billion in 2016, Ito said.

The state-owned companies’ moves follow the Lippo Group, one of Indonesa largest conglomerates, which inaugurated its first hospital in Myanmar on Saturday. Investor Daily and the Jakarta Globe are affiliated with the Lippo Group.

Source: Jakarta Globe

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