From 15-16 September 2015, The “Myanmar Global Investment Forum” was once again held at Myanmar International Convention Center –MICC 2 in Myanmar’s Capital, Nay Pyi taw. It was attended by more than 1000 local and international participants and honored by Union Ministers U Soe Thane, U Soe Maung ,Dr Myint Aung , U Win Tun , U Kyaw Lwin , U Htay Aung and other deputy Ministers.
The forum was jointly organized by the Myanmar Investment Commission and the Euromoney Institutional Investors (Asia). Mr Tony Shale, CEO at Euromoney Institutional Investor and Myanmar Investment Commission Chairman Union Minister U Zeyar Aung address Myanmar Global Investment Forum.
The discussion of forum mainly focus on what lies ahead for Myanmar’s economy as it prepares for a new government and after Myanmar election.
Some key topics were Capturing Investment Opportunities in Myanmar, Myanmar’s Business Leaders; 2016 Outlook, Liberalising the Banking Sector, Energy: Powering Myanmar’s Growth, Unlocking the Golden Land’s Natural Resources and Mining Industry, Integrating Myanmar’s Robust Agricultural Market into the Region, Focus: SEZ Development and Infrastructure, Developing Myanmar’s Tourism Industry, Myanmar Real Estate and Urban Planning, etc. “Renewed business engagement with Myan- mar’s energy sector may mean an increase of foreign direct investment for the country in 2015 and 2016”, said Myanmar Invest- ment Commission chairman U Zeyar Aung. “FDI will almost certainly increase this year and next, particularly as major announcements related to oil and gas tenders, solar power projects and other energy sector investments signal a new influx of business engagement,” the chairman said.
In the 2014-2015 fiscal year, Myanmar received US$8 billion in FDI, surpassing the targeted amount of the government’s Long Term Foreign Direct Investment Plan, which was set at $4 billion.
The chairman called for more foreign direct investment into labour-intensive industries, infrastructural construction projects, factories, plantations and industrial zones in order to create more job opportunities in the country.
The government of Myanmar has also invited foreign direct investment into its power generation sector in an effort to rebuild the sector, which aims to achieve 100-percent electrification nationwide by 2030. According to Myanmar Investment Commision, seventeen power plant projects currently being implemented are due for com- pletion by 2016, and ten were completed between 2013 and 2014.
Regarding investments in Myanmar, Dr Kobsak Pootrakool, Executive Vice President at Bangkok Bank, International Bank-
ing Group said Thai investor feel insecure to invest and keeping close watch for impact from the upcoming election even they know advantages of investing in Myanmar.
In the past years, Myanmar had isolated itself from international community for many decades. But it is no more an isolated country. International sanctions has eased and the country is now integrated into ASEAN fully. Myanmar is Asia last frontier. Lots of fresh opportunities in Myanmar is attracting foreign corporations and agencies eager to invest in energy and resources, telecommunications, financial services, manufacturing and infrastructure sectors. Enormous labour force and consumer market also attract foreign corporations and agencies. This is fourth time Myanmar Global Invest- ment forum was being held.
Myanmar Global Investment Forum is aimed at serving as bridge between the private sector and government for national economic progress and helping investors find pioneer markets. Meanwhile, Myanmar’s newly revised foreign investment law is under discussion in the ongoing parliament session in Nay Pyi Taw, involving the House’s committee, commission, entrepreneurs and scholars.
