PT STAR PACIFIC TBK First Myanmar Investment (FMI) (Myanmar) and Lippo Group (Indonesia) has received approval from the Myanmar Investment Commission. Under the agreement, FMI will own 60% of the joint venture and Lippo 40%. The approval comes after the two companies jointly invested in a USD 13-million 100-bed hospital outside Yangon, which will be expanded to 182-bed capacity.
The joint venture is expected to help Lippo Group expand beyond Myanmar's cities to establish a national network and tap the country's fast-growing demand for healthcare.
