Jul 13, 2011

German company to cooperate with Myanmar on ports and airports

A German company has agreed to work with Myanmar’s Ministry of Transportation to improve airports and sea ports, said a source close to the ministry.

Officials from Fritz Werner Industrie Ausrustungen Company Ltd led by managing director Joerg Gabelmann met with Transportation Minister Nyan Tun Aung in Naypyitaw to discuss extending airport facilities in Yangon, Mandalay and Nyaungoo and port facilities in Thilawa and Rangoon.

A businessman from the Union of Myanmar Federation of Chambers and Commerce told Mizzima, “These days, not only Asian countries but also European countries want to invest in Burma. After power was transferred to the new government, more people want to invest in Myanmar.

“In a market-oriented economic system, privatization is important,” he said. “The government should establish a transparent system to attract investment. Foreign investments can bring not only money but also knowledge and skills.”

Currently, China is the leading foreign investor in Myanmar; Thailand is second.

Source: Mizzima


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