Webinar fosters Vietnam’s investment in Myanmar amid COVID-19

The Embassy of Vietnam in Myanmar on December 17 hosts a webinar on “Foreign Investments in Myanmar in the Context of COVID-19 Pandemic”. (Photo: VNA)

Bangkok (VNA) – The Embassy of Vietnam in Myanmar on December 17 hosted a webinar on “Foreign Investments in Myanmar in the Context of COVID-19 Pandemic”, bringing together officials from both countries.

The event was also attended by representatives of 40 Vietnamese enterprises doing business in Myanmar and a number of firms from Hanoi and Ho Chi Minh City who are looking for investment opportunities in Myanmar.

In his remarks, Vietnamese Ambassador to Myanmar Ly Quoc Tuan emphasised the importance of the event as the COVID-19 pandemic has caused severe impacts on the two countries’ businesses.

Myanmar has swiftly responded to the pandemic by developing short, medium and long term plans to recover the economy and prevent the spread of the coronavirus, Tuan said.

New policies and regulations have been put in place in Myanmar to boost foreign trade, investment and travel in and out the country so the webinar provides a chance for Myanmar authorities to provide details about these new rules, the ambassador added.

He went on to highlight the significance of economic cooperation between the two countries, urging local concerned authorities to continue facilitating Vietnamese firms to invest and do business in Myanmar, contributing to the enhancement of bilateral economic cooperation.

Vietnam-Myanmar trade reached 943 million USD last year and 724 million USD in the first 10 months of this year. Vietnamese enterprises registered to pour about 2.2 billion USD in investment in Myanmar in 2020 fiscal year, ranking 7th among 51 foreign investors in the Southeast Asian country./.

VNA