(Yangon, December 5)
Union Minister for Investment and Foreign Economic Relations, U Aung Naing Oo accompanied by departmental officials inspected the investment project of manufacturing import substitute batteries and related products by Proven Polyworld Company under the permission of Myanmar Investment Commission (MIC) at Yangon Region, Shwe Pyi Thar Township in this morning.
First and foremost, Managing Director of the Company, U Than Htike Lwin and the Manager of the factory explained the operational procedures, situation on manufacturing of batteries and related products in line with international standards, purchase of raw materials in domestic market, market availability of the batteries and related products from the factory domestically and in neighboring countries, operational challenges and upcoming plans regarding the project.
The Union Minister coordinated the needs of the project and discussed extensively to expand investment activities, improve technology on operational processes, extend market availability, increase import substitute production and create more job opportunities.
After that, the team led by the Union Minister took a tour around the factory.
The aforementioned investment project operates by using domestic raw materials mainly and manufactures batteries and related products under the brand of TOYO which distributes domestically and to foreign markets.
