Overview of the meeting (Photo: VNA) Yangon (VNA) – Party General Secretary Nguyen Phu Trong had a meeting withrepresentatives of leading enterprises of Vietnam and Myanmar in Yangon onAugust 26 as part of his State visit to Myanmar.
Addressing the event,Deputy Prime Minister and Foreign Minister Pham Binh Minh, who is accompanyingthe Party chief, highlighted the success of the Party General Secretary’svisit, including the establishment of a comprehensive cooperative partnership, thuscreating new opportunities for bilateral cooperation, especially in economy,trade and investment.
The Deputy PM notedthat Vietnam has become the ninth largest trade partner and seventh biggestforeign investor of Myanmar, with 59 projects worth 1.42 billion USD inMyanmar. The direct air routes between the two countries have also helpfacilitate trade and tourism ties between the two sides.
However, he pointedout that two-way trade has reached only 500 million USD, failing to match thetwo countries’ potential and strengths.
Minh stressed thatVietnam is working hard to reform its administrative procedures to createoptimal legal framework and infrastructure system for foreign investors,including those from Myanmar.
He held that thenewly-established partnership between the two countries provides a basis for theformation of effective collaboration mechanisms, thus boosting bilateralinvestment ties.
Also on August 26, PartyGeneral Secretary Nguyen Phu Trong and Myanmar Vice President U Myint Swe cutthe ribbon to inaugurate the headquarters of Telecom International Myanmar(MyTel) in Yangon, a joint venture of Vietnam’s Viettel Group and a Myanmar partner.
After over 27 years offormation and development, the military-run Viettel Group has become a strongenterprise with great contributions to the Vietnamese economy. Its revenue in2016 hit 11 billion USD with a profit of over 2 billion USD.
The group is operatingin 11 countries in three continents, covering a market of 320 million people,with annual revenue of over 1.5 billion USD and growth of over 20 percent peryear, creating jobs for over 11,000 labourers.
When officiallyinaugurated, MyTel will have the largest infrastructure system with almost 7,200BTS covering 90 percent of the Myanmar population.
On the occasion, theParty leader and Myanmar Vice President U Myint Swe witnessed the signing of a cooperationagreement between MyTel and the Ministry of Education of Myanmar, under whichMyTel will provide Internet services to over 1,350 schools, supply them withcomputers and develop education management software for the schools.-VNA
VNA
