Myanmar Investment Promotion seminar was held on October 16 at Island Shangri-La, Hong Kong. Edward Yau, Secretary for Commerce and Economic Development and Officials of Hong Kong SAR Government, members of legislative council, members of Hong Kong Development Council and Hong Kong Productivity council and representatives of over 130 Hong Kong firms and Hong Kong based foreign businesses attended the event.
This was the second Myanmar Investment Promotion Seminar held in Hong Kong this year. It demonstrated Myanmar’s interest to deepen economic ties between Myanmar and Hong Kong. “Given the close and friendly relations between Myanmar and Hong Kong, I am confident that the majority of the participants of this event will bring with them a deep understanding of Myanmar. I am equally certain that business executives and investors here in Hong Kong have been following with keen interest the positive changes in Myanmar” said Union Minister Thaung Tun. He also mentioned that Myanmar Investment Commission is willingly to facilitate and create a predictable and investors friendly environment. He added Myanmar youth population is larger, highly literate, and highly motivated and therefore, there is a high human resources potential for those companies that are willing to harness it. Hong Kong is one of the world’s leading financial centers, logistic hub, international legal and dispute services center for Asia, and has positioned to play a prominent role in facilitating trade and investment flows and closer links to the economic integration between Hong Kong and ASEAN including Myanmar. In addition, Hong Kong is one of the key investors in Myanmar with the rank of 4th after China, Singapore and Thailand. According to McKinsey and Company, Myanmar needs $320 billion investment for infrastructure by 2030. China-Myanmar economic corridor will be implemented in the near future, which can be considered as a part of the Belt and Road Initiative. The implementation of those projects require large investment. Thus, it is crucial to persuade the private sector to participate in the form of public-private partnership (PPP).
