The business forum could help establish a sustainable economic partnership that benefits not only the present generation but also future generations, built on mutual respect, technology-driven development and shared economic interests.
The Myanmar-Viet Nam Business Forum was held in Hanoi yesterday, aiming to promote trade and investment between the two countries, with President of the Republic of the Union of Myanmar U Min Aung Hlaing calling for greater bilateral economic cooperation and increased Vietnamese investment in Myanmar.
The forum, held at the Melia Hotel, was attended by President U Min Aung Hlaing and members of the high-level Myanmar delegation accompanying him, Vietnamese Deputy Prime Minister Mr Nguyen Van Thang, Deputy Minister of Finance Mr Nguyen Duc Chi, government officials and business representatives from both countries. Around 600 businesspeople attended the forum, while more than 20 exhibition booths showcased products from Myanmar and Viet Nam.
Speaking at the forum, Vietnamese Deputy Minister of Finance Mr Nguyen Duc Chi and the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) President U Aye Win delivered opening remarks, followed by an address by Deputy Prime Minister Mr Nguyen Van Thang.
Mr Nguyen Van Thang said he was pleased to see active participation by businesses and organizations from both countries in implementing agreements and commitments reached between their governments. He said such cooperation could turn existing opportunities into practical projects that create products, jobs and tangible benefits for people in both countries.
He also stressed the importance of combining the resources and strengths of Myanmar and Viet Nam and expanding areas of cooperation. He said the forum provided an opportunity for businesses to directly share their difficulties, opportunities and future investment plans with the governments of the two countries.
The Vietnamese deputy prime minister proposed several areas for further cooperation: strengthening business connectivity and mutual support, sharing experience to promote secure and sustainable economic growth, jointly addressing difficulties faced by businesses, encouraging companies from both countries to become reliable long-term partners, and increasing Vietnamese investment in sectors where Myanmar has economic needs.
In his remarks, President U Min Aung Hlaing said the forum was being held during his visit to Viet Nam with the objective of further strengthening the longstanding friendship and cooperation between the two countries. He expressed confidence that the forum would strengthen economic cooperation between the peoples of Myanmar and Viet Nam and contribute to regional economic development.
He noted that Myanmar-Viet Nam cooperation had expanded beyond political and diplomatic relations to include security, defence, trade, investment and other sectors. Viet Nam is an important trading partner of Myanmar, with Myanmar mainly exporting agricultural, marine and food products to Viet Nam while importing fertilizers, plastic products, vehicles and spare parts, and steel products.
Vietnamese investors are already active in Myanmar in manufacturing, transport and communications, hotels and tourism, services, mining, oil and natural gas, livestock breeding and fisheries. The President highlighted Mytel, which began operations in Myanmar in 2018, as an example of investment and technological cooperation between the two countries.
Looking ahead, Myanmar is seeking to expand cooperation with Vietnam in telecommunications, technology, manufacturing, agriculture, energy, tourism and human resources development. President U Min Aung Hlaing also invited Vietnamese business leaders to invest in value-added production, including agricultural inputs, processed food and seafood products, enabling the two countries to participate jointly in global food value chains.
He further invited Vietnamese companies to cooperate in digital infrastructure, cybersecurity, digital transformation of government services, communications technology, digital payment systems and innovation.
Tourism was identified as another promising area for bilateral economic cooperation, with opportunities in hotels and related services rooted in natural landscapes, cultural heritage and distinctive destinations of both countries. Investment opportunities were also highlighted in hydropower, solar and biomass energy, infrastructure along regional economic corridors, and the production of iron, steel and cement.
The President said Vietnamese companies could establish businesses not only in industrial zones and special economic zones but also in integrated agricultural zones and industrial projects. Myanmar has three major special economic zones: Kyaukpyu, Thilawa and Dawei. He said the Thilawa Special Economic Zone could play an increasingly important role through its connection to the East- West Economic Corridor, which links Myawady in Myanmar with Thailand, Laos and Da Nang in Viet Nam.
He also pointed to the potential strategic importance of the Dawei Deep Sea Port and Special Economic Zone, which could be connected with the Southern Economic Corridor linking Dawei with Bangkok, Luang Prabang and Da Nang.
Myanmar, he said, is emphasizing technology cooperation, the creation of quality employment and the development of domestic production when attracting investment. He pledged continued support to facilitate Vietnamese investment in Myanmar and said the government would prioritize efforts to increase bilateral trade and investment.
Concluding his remarks, President U Min Aung Hlaing called for faster progress in cooperation across a broad range of sectors, including trade and investment, transport, information and communications, science and technology, agriculture, livestock breeding, tourism and people-to-people relations.
He said the business forum could help establish a sustainable economic partnership that would benefit not only the present generation but also future generations, based on mutual respect, technology-driven development and mutual economic interests.
Following the forum, the President and members of his delegation visited the exhibition booths and discussed the products and presentations with officials. Businesspeople from Myanmar and Viet Nam also exchanged memoranda of understanding on cooperation, while more than 20 booths showcased products from the two countries.
President U Min Aung Hlaing later met Mr Chu Cong Phung, chairman of the Vietnam-Myanmar Friendship Association, and its members. They exchanged views on expanding economic and people-to-people relations, strengthening multifaceted cooperation and successfully implementing business activities with the support of the two governments. — MNA/ST
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