SINGAPORE:
Myanmar is looking for partners to help
in its urban development efforts as part of the opening of the country's policy
doors to attract more foreign investors.
At a
business dialogue organised by IE Singapore on Friday, Myanmar Union Minister
for Construction U Khin Maung Myint said he welcomes the expertise of Singapore
companies.
Myanmar
was looking for good partners with the right expertise to achieve equitable
growth as it transitions into a modern economy, the minister said.
He also
outlined two focus areas for urban development in Myanmar.
First,
the country wants to develop a comprehensive urban development plan and legal
framework to promote home ownership and investment in the real estate sector.
Second,
the country plans to develop satellite cities and low-cost housing.
The
minister also invited investment in real estate and property development from
hotels, serviced apartments and housing.
"Singapore
companies have built up extensive experience and industry knowledge in urban
development. As Myanmar develops, we hope to tap into Singapore companies
knowhow and welcome them to participate in our growth as we urbanise,"
Minister U Khin Maung Myint said.
Currently,
Singapore is Myanmar's third largest trading partner.
Some 74
Singapore companies have invested US$1.8 billion in the country.
-
CNA/wm
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