BUSINESS – Foreign investment invited for Rangoon apartments

Foreign investment is being sought for apartment projects in Rangoon as neither the Burmese government nor the private sector can fulfill the city’s construction needs, said Deputy Director of the Department of Human Resettlement and Housing Development Aye Aye Myint, speaking at a forum in Rangoon’s Traders Hotel. She said that a total of 7,000 apartments were being built every year but that current demand was for no less than 25,000.