Ho Chi Minh City-based property developer and retail distributor C.T Group has submitted a proposal to Myanmar for setting up an industrial zone in that country.
Its executives submitted the plan at a meeting with Vice President Nyan Tun in the Myanmarese capital Nay Pyi Daw in late August, the company said in a press release Thursday.
The proposed Vietnam Myanmar Industrial Zone in Yangon will offer Vietnamese firms an opportunity to set up plants.
The plan is supported by Vietnamese firms, who have often found it difficult to find a location for production in Myanmar.
During a meeting with Nyan Tun when he visited C.T Group's office in Ho Chi Minh City in March during an official visit to Vietnam, the company first brought up its industrial zone plans.
He promised help for the project as well as measures to promote investment ties between the two countries.
C.T has set up C.T VIM Company to distribute its goods in Vietnam, Indonesia, and Myanmar.
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