MCITP targets $600 billion in economic engagement with China over 5 years
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Hsu/Thuta Kyaw (NP News) - Feb 8
The Myanmar–China Investment and Trade Promotion Association (MCITP) aims to facilitate $600 billion in trade and investment flows from China to Myanmar over the next five years.
The MCITP was established to drive unprecedented growth in trade and investment, building upon the enduring friendship between the two nations.
As of December 2, the association launched with 547 founding members—462 from Myanmar and 85 from China. It is positioned to serve as a vital bridge between the two nations' business communities.
The association will support business growth by resolving operational obstacles, submitting policy recommendations to government departments, and identifying partners for mutually beneficial cooperation. Furthermore, it will connect investors with emerging opportunities to drive development across industrial sectors and economic zones.
It is also learned that MCITP has set a target for the period from 2026 to 2030 to attract USD 500 billion (approximately CNY 3.5 trillion) in foreign direct investment from China into Myanmar, while increasing bilateral trade volume between the two countries to USD 100 billion (approximately CNY 700 billion).
“Most companies from the People’s Republic of China are mixed-ownership enterprises that serve as the main drivers of its economy. On our side, patrons such as KBZ Bank Chairman U Aung Ko Win and the UMFCCI Chairman give us strong potential for success by linking government and the private business sector,” MCITP adviser U Nyo Ohn Myint told The Statesman journal.
The MCITP aims to attract Chinese investment across Myanmar’s logistics, agriculture, livestock, fisheries, and mining sectors. By facilitating the transfer of technology and expertise, the association seeks to transition Myanmar’s raw materials into value-added products for both domestic and international markets.