Biz News Flash

China product int'l wholesale mart introduced

(Xinhua)
Updated: 2011-05-24 13:32

YANGON -- A function to introduce China product international wholesale mart to be established in Singapore was held here Monday, aimed at attracting Myanmar entrepreneurs' involvement in the business deal.

Jointly sponsored by the Trade Development and Cooperation Center of China Council for the Promotion of International Trade (CCPIT) ?and Myanmar International Business Promotion Center, the function was attended by officials of the Chinese embassy, the Ambassador of Vietnam, seven entrepreneurs from China and 96 from Myanmar engaged in ?different business sectors.

The sponsor told the function that the Chinese and Singapore governments support the establishment of the project, disclosing that such centers have been set up worldwide to source Chinese- made goods, adding that similar center will be introduced in Myanmar in the future.

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The Vice-President of the Singapore-based China Investment Holding Pte Ltd extended invitation to Myanmar entrepreneurs to come to Singapore for their part.

The China investment holdings Pte Ltd is a large investment cooperation company registered in Singapore, whose main orientations are holding large international fairs and exhibitions, establishing professional product wholesale mart and operating other industrial investment projects.

Under the support of both Chinese government and Singapore government, the Chinese company co-invests with other Chinese companies to build the global product distribution center project in Singapore, with a total investment amount of $500 million.

The whole project is divided into two phases, the first phase of which is China product international wholesale mart located at Singapore international expo Hall 8, largest international conference and exhibition center of Southeast Asia, containing nearly 400 well designed standard shops.

The second phase is an "international product city" in the district of Pasir panjang, with an area of over 150,000 square meters.

By building the world's most professional Chinese brand industrial trade platform, applying world leading and professional management patterns, the project leads more and more good quality Chinese product into Southeast Asia and global market through Singapore, the top marine and aviation logistic services platform and trade hub.

It will further prompts Chinese enterprises to expand global business and carry out a series of value-added business activities like product wholesale and retail, according to the sponsor.