Myanmar's military has taken control of the country since early Monday morning. What is the situation like for Chinese companies there and what can they expect?

I got a chance to talk with one Chinese businessman in Myanmar, Zheng Bida, who shared his impressions of recent developments.

Life back to normal

Zheng is the CEO of Myanmar World Investment Co., Ltd. and has been living and working in Myanmar for nearly nine years. His business activity covers new media, conferences, conventions, and exhibitions including tourism.

"For the special situation for now, we have not found any special status, but to avoid any unexpected things happening, we mainly stay at home," he said. 

All mobile networks and ATM banking services have returned to normal, and international flights were to resume on February 4.

Optimistic about Myanmar's future

After living in Myanmar for almost a decade, Zheng is used to the local lifestyle. Of this week's events, he said he believes the current situation is under control, and it can be resolved in a peaceful manner. 

If the Myanmar government continues to maintain an open attitude and actively attracts investment and strengthens infrastructure construction, such as the electricity and transportation, Zheng said he was optimistic about Myanmar's future development. He added that he believes there will be fast development in the near future. 

Chinese companies in Myanmar

According to Zheng, there are currently around 2,000 Chinese companies in Myanmar, operating in the agriculture, textile and garment sectors, and also tourism and the electric power industry.

He observed that more and more Chinese private companies, especially in the garment and textile sectors, moved in the country at an accelerated pace.

Just in the garment sector, there are roughly 600 factories in Myanmar at present, and about half have Chinese investment. These Chinese companies employ a large number of local workers, and have made strong contributions to the country's economic growth.