There are 597 Chinese investment activities in Myanmar, the largest in the electricity sector, with a total of US$21.863 billion, accounting for 23.15 percent of the total foreign investment, according to Dr. Kan Zaw, Union Minister for Investment and Foreign Economic Relations.
The union minister revealed the information in his opening remarks at the GMS Economic Corridor Administrators' Forum as the second day GMS Projects Road Show, and Lincang Border Eco-nomic Cooperation Zone which took place on August 18, 2023 in Kunming, Yunnan Province, China.
The union minister said he believes that the establishment of the Lincang Regional Economic Cooperation Zone will enhance economic cooperation between the GMS countries, and that There are 597 Chinese investments worth US$21.863 billion in Myanmar accounting for 23.1 percent of the total foreign investment. Its largest investment is in the electricity sector that should be encouraged for border region development. As the electrical sector is a fundamental requirement for Myanmar and it is also important for investment, the government is making great efforts to develop the electricity sector.
Additionally, Myanmar's agricultural and livestock products are conveniently transferred to China if the construction of the Qinghai Bridge, which is being implemented with China's support, is completed. Exports will enhance the border trade and investment sectors to a certain extent. The Inter-national Aquatic Products Processing Industrial Park project in the Lincang Border Economic Cooperation Zone also hopes to benefit the border between the two countries, including the electrical automobile sector, as well as agriculture, biomedicine, marine life, and cold storage facilities. Investments are also invited to tourism sector projects for transportation, cultural exchange which are priority investment sectors set by the Myanmar National Investment Commission to promote food supplies and agricultural production.
In the afternoon, Chinese officials also made speeches.
The union minister also attended 2023 GMS Economic Corridor Governors Forum \ GMS Project Roadshow and Lincang–Mekong Fruit Festival held at Yunnan Haigeng Convention Center on the afternoon of August 17.
