In addition to agriculture, Bau Duc's company will work with strategic partners to expand the second phase of Myanmar's commercial and entertainment center.
Myanmar invested for the first time in the talks with Vietnamese businessmen in Yangon on the occasion of the visit of Deputy Prime Minister of Myanmar Yang Hoan Anh Gia Lai. In 2013, Hoang Anh Gia Lai invested $ 440 million in the Myanmar Center with a rent of 32,000 square meters, and 20,000 people went shopping every day.
"Myanmar visitors and foreign tourists visiting Yangon know about the Myanmar plaza," he said proudly and said that he had many difficulties in investing in Myanmar and is continuing. Together with our strategic partner, Thaco Truong Hai, you can choose the farm you will develop in the future. Hoang Anh Gia Lai's real estate and hydropower business Since the launch of the business, restructuring strategies in the market have included orientations that promote and expand investment in agriculture and fruit trees.
The company and Thaco also built the second phase of the Myanmar Center Complex project with a total capital of $ 710 million and is expected to be completed by 2022.
Deputy Prime Minister Vuong Dinh Hue gave souvenirs to the Bau Duc company in Yangon (Myanmar). Photo: VGP
In addition to Hoang Anh Gia Lai, BIDV has established a branch office in Yangon since 2016 and has earned a profit of $ 1 million after three years of operation. However, according to the Myanmar Law, President of Phan Duc Tu – BIDV, banks are in trouble and banks can receive financial aid from Myanmar because foreign bank branches have not allowed them to pay interest to individual customers depositing money.
Vuong Dinh Hue, deputy prime minister of Vietnam's Myanmar Finance Minister Soe Win, has asked the Myanmar government to continue streamlining procedures and to shorten inspection and customs clearance on Vietnamese goods. Imports into Myanmar. The government should also register the ownership of the assets invested in Myanmar with foreign investors, including Vietnam, and narrow down the list of imports that require permission.
Soe Win confirmed that the government is working to streamline the process of creating an open investment climate for foreign companies. However, he said, "We need Vietnamese companies to be patient and cooperate with Myanmar."
Currently, there are more than 200 Vietnamese companies that invest and operate in Myanmar. Recognizing that the country in the eastern part of Vietnam will be a strategic market for Vietnam in the future, Minister Boon told Vietnamese entrepreneurs, "Patience and gain the key. Next time, branding and success will be the development cycle for Myanmar. "
He has actively contributed to the socio-economic development of Myanmar by requiring companies to strictly comply with local laws, and through the Corporate Social Responsibility (CSR)