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Economic Development : 2nd ASEAN-MYANMAR Forum

28 June 2017

Aiming to serve as a high-level platform for corporate leaders and policy makers to discuss key issues relating in development of Myanmar, the 2nd ASEAN-Myanmar forum was held in Yangon, Wednesday.

The forum focus on the broader geo-political trends in Asia and how this could affect Myanmar’s development as well as Myanmar’s economic and financial sector plans. 

Foreign Investment is very crucial for the country’s long-term economic growth. But, foreign investors are facing about 84 % difficulties investment in Myanmar, according to the Chairman of SIIA. 

He stressed the need to provide more detail and clear policy for the investors.

Chairman , Singapore Institute of International Affairs  , Associate Prof.  Simon Tay : “I think we need more details what sector that Myanmar want to keep for Myanmar people. What sector do they keep for foreign investors and how they can really work together so I think each of a sector more clarity and more details?”

The economic experts pointed out that the release of the revised investment law and rules is the active steps to promote foreign investments and business in the country. 

This forum could be a platform for the investors to better understand the economic landscape of the country.

Economist , Khin Maung Nyo: Myanmar has much opportunity to get things done right and well. The current reform and capacity building toward the economic growth so their opportunities and challenges will gain in this forum. Foreign investment is very important which can provide capital and expertise to ensure economic development. They also pointed out the difficulties to invest in Myanmar and but they said it is very potential investment in Myanmar, according to their survey.

Myanmar’s foreign investments dipped for the first time in four years since the country’s economic opening from 9.5 billion USD in 2015-2016 fiscal year and 6.6 billion USD in last year.