(Yangon, September 24)

Union Minister for Ministry of Investment and Foreign Economic Relations, U Aung Naing Oo visited the Shwe Me logistic service Co., Ltd operating under the permission of Myanmar Investment Commission in Yangon Region, Shwe Pyi Thar Industrial Zone. The responsible personnel from the industry greeted the team led by Union Minister and explained about the operational procedures, transportation processes of containers through Hlaing River to Thilawa port and other local ports, current situation on rice export to foreign countries. The Union Minister coordinated and supported the needs of the industry for the expansion of the investment

After that, Union Minister also visited the Resources Group Logistic Co., Ltd operating dry port services under the permission of Myanmar Investment Commission in Yangon Region, Ywar Thar Gyi. At the place of the investment, the executives of the company made a presentation about the situations of operating dry port services by utilizing Yangon-Mandalay railroad, providing warehouse services, exporting and handling the cargo, operating customs clearance services by using bonded warehouse system. The Union Minister discussed and made suggestions to promote the investment activities of the company.

In the afternoon, the Union Minister visited the office of the Union of Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) and initiated a meeting with Foreign Chambers of Commerce in Yangon and members from the UMFCCI. The attendees of the meeting discussed about the operational challenges and the need of assistance from relevant departments for smooth operation of the investment activities. At the meeting, the Union Minister emphasized on the upcoming plans regarding cooperation with relevant departments to facilitate the foreign investors, simplification of the procedures of the ministry, improvement of online services, reducing barriers to investment, improving the cooperation with business associations and discussed and coordinated the submitted issues of the attendees. The Union Minister also encouraged the attendees for the closer cooperation with MIFER.

Then, the Union Minister inspected the acceptance of application forms for providing Covid loan for businesses in fishery sector from Covid-19 fund. The investors may apply for the loan in person at UMFCCI head office or via online till September 30, 2021.