Nov 7, 2012

Norwegian paint firm to set up plant in Myanmar

A Norwegian paint company will set up a plant in Myanmar, according to officials of the firm.

Jotun Paint expects to complete construction of the US$20-million plant in five years, Peder Bohlin, Southeast Asia director of the company, said in Yangon on November 5.

“There are a lot of tech firms in Norway. They are interested to come here to invest. It’s a very interesting place,” he said.

Norway was the first European country to lift economic sanctions against Myanmar.

According to Jotun Paint’s president and chief executive officer, Morten Fon, the company holds 65 per cent of Norway’s paint market.

Source: 11 Media Group