May 18 – Organized by the American Chamber of Commerce (AMCHAM), a delegation of American businesses met with the newly elected government in Nay Pyi Taw on May 17 and 18. Led by U.S. Ambassador to Myanmar, H.E Scot Marciel, the delegation discussed ways to improve the Myanmar business environment and bring in more U.S. direct investment into the country. Delegates from 30 U.S. companies, members of AMCHAM Myanmar, met with responsible personnel from various ministries and urged them to continue to make positive legal and policy steps further fostering economic growth that began under the previous government. The delegation advocated for strengthening the legal framework for foreign ownership and business protection, the rule of law, improving infrastructure and services to support economic growth, and leveling the playing field for all business – private, state-owned, foreign and domestic. Andrew Lee, Chief Country Representative for GE and member of AMCHAM Myanmar’s Executive Committee said “The American Chamber of Commerce in Myanmar and the American business community here would like to see the country develop and thrive, and spurring the economy and creating jobs is essential to that process. As Myanmar government is committed to creating a business environment benefitting both investors and the people of Myanmar by improving infrastructure and rule of law, while strengthening its leadership development, AMCHAM is at the government’s disposal to provide advice, expertise, and support in bringing Myanmar’s economic climate in line with international standards and best practices making it a friendlier environment for investors,”
The visit to the new government comes on the heels of a business matching program held by AMCHAM Myanmar in conjunction with the Myanmar Federation of Chambers of Commerce in February. More than 20 U.S. companies, including Ford Motor Company, Dow Chemical, DuPont and Honeywell, networked and fostered partnerships with 50 local businessmen.
According to the Directorate of Investment and Company Administration, 17 U.S. projects worth USD248 million have been approved as of the beginning of this year, which signals an increased commitment and increased role of American business in Myanmar.
