Macau companies investing MOP20 mln in Myanmar

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Businesses from Macau are planning to invest about MOP20 million (US$ 2.5 million) in setting up distribution channels for the sales and distribution of construction materials in Myanmar by May, according to the Myitmakha agency. “The majority of Macau businessmen are keenly interested in Myanmar’s changing economic climate. Construction materials from Macau such as cement, hammers, iron and household paint will be imported and sold. An investment totalling over MOP20 million has been planned, with implementation to commence in May,” said Jose Wong, chair of the Macau-Myanmar Friendship Association. Other companies from Vietnam, South Korea and Thailand have also invested in the construction materials sector there.