Jun 1, 2015

Myanmar Mining Summit in October

Myanmar Federation of Mining Associations is working with Wispool Events, a Chinese company, to hold the Myanmar Mining Summit 2015 for the development and modernisation of the industry in the country.

This is the first time the Federation will be holding a summit, which is scheduled to take place in October.

“We frequently attend conferences and the meetings related to mining in other countries. If we can hold the summit in our country, it will be beneficial for domestic players,” U Aye Lwin, secretary of the Federation, said.

International investors will be able to connect with domestic businesses via the summit and it can improve the investment in mining sector, he added. Domestic industries can also get technologies related to mining by cooperating with international firms, U Aye Lwin said.

There are only small local firms in the mining sector in Myanmar and several experts have said that heavy industries still need to be established to boost the growth of the sector.

A draft law related to mining has been developed and is awaiting approval from the parliament.

Source: Myanmar Business Today