Foreign investment reaches US$ 38 million in Myanmar’s construction sector
The amount of foreign investment in Myanmar’s construction sector has reached nearly US$ 38 million as of end of June 2013, according to a report of Directorate of Investment and Companies Administration.
"Myanmar engineers are now carrying out technical cooperation with foreigners on construction sites in Yangon. They have appointed foreign experts as technical advisors. We have already chosen a South Korean engineer in our construction site," said Thar Htay, Chairman of Myanmar Construction Entrepreneurs Association.
Foreign countries are now eyeing to invest in Myanmar's construction sectors as the country embarks on an economic reform process. Myanmar will soon sign an agreement with Japan and Vietnam to carry out technical cooperation in the aim to create job opportunities in engineering and construction.
China, Thailand, Hong Kong and South Korea are also investing in Myanmar’s much needed infrastructure and construction projects.
"The international community is interested in Myanmar because there are many good opportunities. Foreign techniques are being used in the constructions of Ayeyarwon and Yandana low cost housing projects. The foreign firms are going to cooperate with local constructors in further of high-rise projects," Thar Htay added.