On the occasion of the official launch of EuroCham Myanmar’s third edition business confidence survey and business guides, the European Chamber of Commerce invited all European (EU) member state representatives, EU delegation, EU companies and chambers, trade promotion partners, as well as Aung Naing Oo, Director General of DICA and many more to Novotel Yangon Max on December 11.
The content of the Business survey provides essential information for shortterm forecasting, economic surveillance and economic research. Moreover, they are widely used to detect turning points in the economic cycle. Surveys are a key insight on top of official statistics, which often only become available after long delays, particularly in emerging markets. The data generated through this third Business Confidence Survey is particularly useful for monitoring economic developments in Myanmar, which will be facilitated by publishing the results on an annual basis.
The objectives of business confidence survey are to measure European business sentiment towards Myanmar’s economy, to get an overview of sector representation of European companies in Myanmar, to investigate the issues and concerns faced in Myanmar by European business, budget 2017 – 2018 and impact of economic restructuring, plot 2018 – 2019 investments, business strategies, expansions and manpower and to detect ongoing trends based on the experiences of European companies. Following the opening remarks by Filip Lauwerysen, Executive Director of EuroCham Myanmar, speeches were given by H.E Kristian Schmidt, EU Ambassador to Myanmar and Aung Naing Oo, Director General, Directorate of Investment and Company Administration, Ministry of Investment and Foreign Economic Relations. Filip Lauwerysen, Executive Director EuroCham Myanmar presented the key findings from the business confidence survey 2018, the business guide and the six sectorial guides (on agriculture, consumer goods, energy, garment, health and manufacturing) which provide entry-level information to European companies planning to invest in Myanmar.
The presentations were followed by a panel discussion on the business climate and the sectors of opportunities in Myanmar. Second panel discussion with EuroCham Myanmar Advocacy Cochairs to get an update on the advocacy statistics and progress.