Myanmar western state to hold trade fair to promote investment

Source: Xinhua| 2019-02-20 16:16:25|Editor: xuxin
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YANGON, Feb. 20 (Xinhua) -- Myanmar's Chin state in the west part is planning an investment and product fair aimed at promoting investment and building up a network between foreign and local entrepreneurs to explore market opportunities for Chin products, according to the Myanmar Investment Commission (MIC) Wednesday.

The fair, scheduled for March 16-17 in Yangon, is organized by the MIC and the Chin state government.

The fair will include investment seminars, business matching and product shows featuring Chin traditional costume, fruits, coffee, said U Aung Naing Oo, MIC Secretary.

Transportation difficulties and lack of adequate infrastructures such as electricity are the main challenges for Chin state in attracting investors, he said.

According to statistics, as of 2017-18 fiscal year, zero investment was registered in the state. However, during the last mini-budget period between April and September 2018, a private hotel business with a pledge of 833.42 million kyats (555,613 U.S. dollars) was approved by the authorities.

Chin state, known to have potential in power, tourism and agriculture, is a state in western Myanmar. The 36,019-square-kilometer Chin State is bordered by Sagaing and Magway regions to the east, Rakhine State to the south, Bangladesh to the south-west, and the Indian states of Mizoram to the west and Manipur to the north.

Chin state has a population of 478,801, according to 2014 census.