Myanmar woos more Indonesian investment

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)