State Counsellor Daw Aung San Suu Kyi attended the Business Roundtable in New Delhi yesterday, clarifying economic policy, opportunities for investment in Myanmar and the Investment Law.
Indian Investment in Myanmar must be linked to Myanmar’s overall development, stated the State Counsellor at the India-Myanmar Business Roundtable.
She said that opportunities for cooperation must be mutually beneficial and must be a fair deal for both countries.
She mentioned that Myanmar has promulgated a new Investment Law which would accord the same treatment to foreign companies as was being given to domestic companies.
With the enactment of the new law, the Minister hoped that there would be transparency in contracts, the rule of law would be enforced and corruption would be curbed.
She invited Indian industry to cooperate with Myanmar in areas such as skill development, agriculture especially organic agriculture, agri-machinery and infrastructure development among others.
In his address, Amar Sinha, Secretary (ER), Ministry of External Affairs, highlighted certain issues between the two countries which needed to be resolved including the need to modernize banking and finance channels in Myanmar, equal treatment in terms of tariffs and duties, tariff rationalization in the automobile sector and clarity on Myanmar’s energy policies.
At the business roundtable, State Counsellor Daw Aung San Suu Kyi replied to the questions raised by Indian businessmen.—GNLM