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News & Events

[ 26-06-2015 ]
Matrade Wants More SMEs To Venture Into Myanmar
KUALA LUMPUR, June 25 (Bernama) -- The Malaysia External Trade Development Corporation (MATRADE) wants more small and medium enterprises (SMEs) to venture into Myanmar's growing market, particularly in the oil and gas, franchising and services sectors.

Chief Executive Officer Datuk Dzulkifli Mahmud said SMEs should grab the opportunity to increase their presence in Myanmar like what neighbouring countries such as Singapore and Thailand have done.

"From the feedback we received, increasing numbers of Malaysian companies have shown interest to invest in Myanmar," he told reporters after the signing of a memorandum of understanding between Viva Global Education Sdn Bhd and academic partners Malaysia-Myanmar Institute of Vocational Training here Thursday.

Dzulkifli said Myanmar also offers a lot of human capital and natural resources while the Myanmar government is in the midst of making their business environment more comfortable for foreign investors.

"We don't want to be a late comer to Myanmar. We are going in a big way, we would like to invest in Myanmar, we want to see Malaysian products and brands there," he said.

Myanmar is Malaysia's seventh largest trading partner and export destination among the ASEAN member countries.

Last year, Dzulkifli said, total trade between Malaysia and Myanmar amounted to US$972.1 million, an increase of 6.6 per cent over the US$911.6 million recorded in 2013.

For the first quarter this year, total trade between Malaysia and Myanmar however declined 15.6 per cent to US$310.4 million from US$368 million in the same period last year.

"The current scenario in the global economy has partly affected our trade with our partners, and we hope this is temporary. We hope to further improve in the third or fourth quarter this year," he added.

-- BERNAMA