September 15, 2016

MIC holds joint forum to address economic trends

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Myanmar Investment Commission and the Hong Kong-based Euromoney Institutional Investor (Asia) jointly organised the Myanmar Global Investment Forum at Myanmar International Convention Centre in Nay Pyi Taw yesterday, with an address by Planning and Finance Deputy Minister U Maung Maung Win.
The forum was aimed at helping foreign investors gain insight into the country’s economic activities. Local and foreign participants discussed the property market, the condominium act, foreign investment, the tourism industry and current complexities of high-rise buildings.
Hans van Beek,
Everybody sees improvement in Myanmar. This is a good sign. We know 55 to 60 million people. This is the fastest growing market in the world. It would be a steady growth. I don’t think everybody expects a big boom tomorrow. You need to have a longer term view. We need to take a long view. I would say it’s better for everyone, it’s better for investors. It’s better for Myanmar people. It’s not just going like up and down. Everything is going steadily, that is what everybody is expecting. People don’t see a big jump at this moment. People see steady improvement. We continuously see new companies enter into Myanmar. They start with a few people and they want to see what they can produce here. This a good start and  they would invest more and more.
Larry Jagen, Expert for South-East Asia Affairs
This forum is a great success. It’s been the biggest attendance ever, and I have been to many conferences. Local companies, foreign investors, big international financial institutions are here. What it  shows is that there is tremendous interest in the Myanmar economy. It’s been a part of the economic development of the NLD government. There has been a lot of enthusiasm. At the moment, people are cautious about investing immediately. They want to see more details from the government’s economic policy and changes to bureaucratic restrictions on businesses. This (forum) is an incredible networking event. It is a great sign of the future of investment in Myanmar.
Daw Aung San Suu Kyi will meet with American President Barack Obama. We would like to know American sanctions are going to be lifted later this week.
Kenneth Stevens, Managing Partner of Leopard Capital
If (investment opportunities  in Myanmar) are gradually, slowly getting better, I think investors a long time ago found it very difficult here. But in the last four or five years, Myanmar is improving and people are finding interesting companies as good partners.
I don’t see that as a very important issue. Many people think sanctions are still problem.


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