Malaysia External Trade Development Corp (MATRADE) will be targeting various construction projects for Malaysian companies worth RM400 million ($122 million) in Myanmar, the trade agency said.
These projects include residential, commercial, industrial parks and mixed development projects such as hotels, office buildings and shopping malls.
The owners of these projects, which were identified by MATRADE, are Myanmar government-related agencies and the private sector, it said.
MATRADE said Malaysian firms are “in the best position to contribute to the development of the country due to its proven track record in undertaking various construction and infrastructure projects internationally.”
The Malaysian firms represent various construction sector including building construction, property and township development, infrastructure, roads and highways, water-related services as well as consultancy services such as engineering, architecture, project management and specialised research services.
Last year, MATRADE said, projects worth RM330 million ($100 million) were identified, adding Myanmar offers huge business potential and opportunities, especially in the infrastructure and property development sector.
Reforms undertaken by the Myanmar government have impacted positively to the country’s economy and enhanced trade and investment flows within the country, it added.
“There is a surge in demand for modern residential and commercial properties due to the people’s changing lifestyles and foreign investors’ influx into the country,” said MATRADE.
Infrastructure development has been given a priority by the government to facilitate the rapid economic activities taking place in Myanmar.
Nine Malaysian construction companies will be joining MATRADE for a Specialised Marketing Mission to Myanmar from 17–21 March to meet the project owners and assess the projects identified.
Programs arranged by MATRADE for the Malaysian firms include meetings with project owners and participation in the Myanmar Infrastructure Summit and Exhibition, organised in Yangon, Myanmar’s commercial capital.