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Party leader meets leading Vietnamese, Myanmar firms

Update: August, 28/2017 - 09:00
On August 26, Party General Secretary Nguyễn Phú Trọng (centre) and Myanmar Vice President U Myint Swe (second from right) cut the ribbon to inaugurate the headquarters of Telecom International Myanmar (MyTel) in Yangon, a joint venture by Việt Nam’s Viettel Group and a Myanmar partner. — VNA/VNS Photo Trí Dũng
Viet Nam News

YANGON — Party General Secretary Nguyễn Phú Trọng held a meeting with representatives of leading enterprises from Việt Nam and Myanmar in Yangon on August 26 as part of his State visit to Myanmar.

Addressing the event, Deputy Prime Minister and Foreign Minister Phạm Bình Minh, who is accompanying the Party chief, highlighted the success of the Party General Secretary’s visit, including the establishment of a comprehensive cooperative partnership, thus creating new opportunities for bilateral co-operation, especially in economy, trade and investment.

The Deputy PM noted that Việt Nam has become the ninth largest trade partner and seventh biggest foreign investor of Myanmar, with 59 projects worth US$1.42 billion in Myanmar. The direct air routes between the two countries have also helped facilitate trade and tourism ties between the two sides.

However, he pointed out that two-way trade has reached only $500 million, falling short of the two countries’ potential and strengths.

Minh stressed that Việt Nam is working hard to reform its administrative procedures to create an optimal legal framework and infrastructure system for foreign investors, including those from Myanmar.

He held that the newly-established partnership between the two countries provides a basis for the formation of effective collaboration mechanisms, thus boosting bilateral investment ties.

Also on the same day, Party General Secretary Nguyễn Phú Trọng and Myanmar Vice President U Myint Swe cut the ribbon to inaugurate the headquarters of Telecom International Myanmar (MyTel) in Yangon, a joint venture by Việt Nam’s Viettel Group and a Myanmar partner.

After over 27 years of development, the military-run Viettel Group has become a strong enterprise that has made great contributions to the Vietnamese economy. Its revenue in 2016 hit $11 billion with profit of over $2 billion.

The group is operating in 11 countries on three continents, covering a market of 320 million people, with annual revenue of over $1.5 billion and achieving a year-on-year growth of over 20 per cent, in addition to creating jobs for over 11,000 labourers.

When officially inaugurated, MyTel will have the largest infrastructure system with almost 7,200 base transceiver stations (BTS) covering 90 per cent of the Myanmar population.

On the occasion, the Party leader and Myanmar Vice President U Myint Swe witnessed the signing of a co-operation agreement between MyTel and the Ministry of Education of Myanmar, under which MyTel will provide Internet services to over 1,350 schools, supply them with computers and develop education management software for the schools.

Party General Secretary Nguyễn Phú Trọng arrived in Hà Nội on August 26, concluding his Indonesia and Myanmar tour.

Also on August 26, Party General Secretary Nguyễn Phú Trọng sent a message to Myanmar President Htin Kyaw to thank the State leader for his warm welcome.

He said the visit left him with a good impression of a beautiful country with rich cultural tradition, dynamism, and hospitable people, expressing his strong belief in a productive bilateral partnership. — VNS

 

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