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Foreign investors remain upbeat about Myanmar

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29 Jun Foreign investors remain upbeat about Myanmar

We held our 2nd ASEAN-Myanmar Forum in Yangon on 28 June 2017, bringing together senior government officials and business leaders. The following is an excerpt from The Straits Times article on the forum.


 

By Tan Hui Yee, Regional Correspondent

YANGON – Foreign investors remain upbeat about Myanmar’s economy despite concerns over its pace of reform, said the head of a Singapore think tank, Associate Professor Simon Tay on Wednesday (June 28) at forum in Yangon.

According to a preliminary survey result of foreign businesses conducted by the Singapore Institute of International Affairs, some 67 per cent remain optimistic about its economic prospects, Prof Tay said at the Second Asean-Myanmar Forum here. At the same time, 84 per cent felt it was difficult to invest in Myanmar, partly due to the lack of clarity in its legal regime.

But business leaders who attended Wednesday’s forum also urged the new government to speed up on developing concrete measures to execute the broad visions it has articulated so far.

The Myanmar Investment Commission has prioritised investment in 10 areas, including agriculture, livestock and fishery, export promotion, power and import substitution. Last July, it revealed a broad economic policy that, among other things, aimed to promote national reconciliation, support competition and cut red tape.

Full article: Foreign investors remain upbeat about Myanmar [The Straits Times, 28 June 2017]