Myanmar woos more Indonesian investment<\/p>\n
JAKARTA (JP): Myanmar's Industry Minister Lt. Gen. Kyaw Than
\n(right, photo above) presented a gift to his Indonesian
\ncounterpart, Tunky Ariwibowo, during a courtesy call
\nyesterday.<\/p>\n
Than, who arrived here on Saturday for a four-day visit to
\npromote investment in his country, met earlier in the morning
\nwith executives of the Indonesian Chamber of Commerce and
\nIndustry.<\/p>\n
Than asked Indonesian businesses to investment in heavy
\nindustry and agrobusiness to help speed up development in
\nMyanmar.<\/p>\n
He added that his country was also aggressively promoting
\ntourism to attract more investment by 1996, which his country has
\ndesignated as Visit Myanmar Year.<\/p>\n
Than, who was accompanied by several officials and
\nbusinessmen, ended his visit yesterday.<\/p>\n
In a related development, Myanmar's Ambassador here U Nyi Nyi
\nThan said that several Indonesian business groups such as Gadjah
\nTunggal, Sampoerna, Panin Bank, Anwar Sierad and Humpuss had been
\ninvesting in his country.<\/p>\n
Indonesia, he added, had established an agency called the
\nIndonesian House in charge of coordinating private investment and
\ntrade with Myanmar. The agency is headed by Hutomo Mandala
\nPutera, chairman of the widely-diversified Humpuss Group.<\/p>\n
One of Humpuss' subsidiaries, PT Rante Mario, an integrated
\ntimber firm, has been operating in Myanmar since late 1993.<\/p>\n
Indonesian exports to Myanmar amounted to US$ 35.2 million
\nlast year, down from $39.75 million in 1993. Imports from Myanmar
\nwere worth $37.17 million last year, up from $15.19 million in
\n1993. (01)<\/p>",
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"sponsor": "Okusi Associates",
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