Myanmar woos more Indonesian investment

JAKARTA (JP): Myanmar's Industry Minister Lt. Gen. Kyaw Than (right, photo above) presented a gift to his Indonesian counterpart, Tunky Ariwibowo, during a courtesy call yesterday.

Than, who arrived here on Saturday for a four-day visit to promote investment in his country, met earlier in the morning with executives of the Indonesian Chamber of Commerce and Industry.

Than asked Indonesian businesses to investment in heavy industry and agrobusiness to help speed up development in Myanmar.

He added that his country was also aggressively promoting tourism to attract more investment by 1996, which his country has designated as Visit Myanmar Year.

Than, who was accompanied by several officials and businessmen, ended his visit yesterday.

In a related development, Myanmar's Ambassador here U Nyi Nyi Than said that several Indonesian business groups such as Gadjah Tunggal, Sampoerna, Panin Bank, Anwar Sierad and Humpuss had been investing in his country.

Indonesia, he added, had established an agency called the Indonesian House in charge of coordinating private investment and trade with Myanmar. The agency is headed by Hutomo Mandala Putera, chairman of the widely-diversified Humpuss Group.

One of Humpuss' subsidiaries, PT Rante Mario, an integrated timber firm, has been operating in Myanmar since late 1993.

Indonesian exports to Myanmar amounted to US$ 35.2 million last year, down from $39.75 million in 1993. Imports from Myanmar were worth $37.17 million last year, up from $15.19 million in 1993. (01)