Russia to invest in Myanmar

A Russian business delegation visited at Nay Pyi Taw, Myanmar earlier this week to discuss investment and trade opportunities with the Union Minister for Investment and Foreign Economic Relations, U Thaung Run.

The delegation team included Timur Maksimov – Deputy Minister for Economic Development of the Russian Federation and Nikolay Listopadov – Ambassador of the Russia Federation to Myanmar. The group discussed potential investments in the education, power, transport, telecommunications and technology sectors. Nikolay Listopadov also asked Myanmar to push the Russian backed projects in Myanmar and ensured the possible establishment of direct flights between Myanmar and Russia.

Earlier in September, Russia agreed to support Myanmar on cybersecurity law, build e-government platforms and develop smart cities.

Moreover, Russia is the 22nd largest foreign investor in Myanmar with over US$90 billion invested in two local businesses so far, according to MyanmarTimes.