Published on Monday, 24 December 2012 17:18
More international companies are submitting tenders for state projects on infrastructure, a business man said.
“Foreign firms [are filing] bid tenders
for airports, sea ports, hotels and industrial zone projects. The trend
may continue as other tenders are still in process,” he said,
A source from a Japanese corporation
said it all depended on the policy of the Myanmar Investment Commission.
Japan has the most number of corporations joining bids in the country.
“We are prepared to make investments in
infrastructure and natural resources like what China and Thailand had
done. In addition to manufacturing and industrial factories, we will
prepare ourselves to be involved in telecommunications, industrial
zoning, port construction, transportation, energy, hydropower, and
information technology,” he added.
Local firms are confident that they will
have more chances in winning project bids as the involvement of
international companies requires a more fair, transparent and systematic
bidding process.
After decades of isolation, Myanmar
opened up this year and is striving for economy development. The
country is attracting more foreign investments with the passage of the
foreign investment law in November.
Foreign firms are entering Myanmar
through joint ventures with local firms. They are investing in
agriculture, manufacturing, garment factories, hotel and tourism,
transportation, sales distribution, advertising, technology, and
banking.
Analysts, however, said the main
hindrance for investments, which is the lack of efficient and effective
infrastructure in the country, remains.
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