“In Myanmar, we have a lot of respect for UK products because of the quality of the products and the honesty and transparency of its businesses” H.E. U Thaung Tun, Myanmar’s Minister for Investment and Foreign Economic Relations
Over 200 people took part in the Myanmar Trade and Investment Conference 2019. Organised by the Department for International Trade in collaboration with the UK-ASEAN Business Council and the British Chamber of Commerce Myanmar, the day long programme provided an opportunity to hear the latest insights into one of the fastest growing economies in the world.
H.E. U Thaung Tun, Myanmar’s Minister for Investment and Foreign Economic Relations led an impressive delegation to the UK of senior Myanmar government representatives and a business delegation of nearly 30 Myanmar companies. The programme included plenary sessions, industry specific workshops on education, finance and renewable energy and business matching sessions
Paul Scully MP, Prime Minister’s Trade Envoy to Myanmar
Opening the conference, Paul Scully MP, the Prime Minister’s Trade Envoy to Myanmar urged more British companies to understand the potential for doing business in Myanmar and said that improved prosperity, productivity and living standards will bring benefits to all.
The Trade Envoy went on to say that the government of Myanmar’s recent implementation of the new company law, investment law and start of the insurance liberalisation process are positive steps to encourage greater international participation and attract world class investments and standards to Myanmar.
H.E. U Thaung Tun, Myanmar’s Minister for Investment and Foreign Economic Relations
In his keynote address Myanmar’s Minister for Investment and Foreign Economic Relations said, “In Myanmar, we have a lot of respect for UK products because of the quality of the products and the honesty and transparency of its businesses”. He further shared that Myanmar has launched a new investment plan that seeks to attract more than $200bn through responsible business for all, whether local or international. Myanmar’s new investment law moves it closer to international standards. International investors can own 35 per cent without losing ‘local company’ status. The reforms being undertaken have been acknowledged by the World Bank who awarded Myanmar with the Star Reformers Award.
The intellectual rigour in the panels, that featured senior Myanmar government and business figures, provided important insight into the opportunities and challenges in this exciting market. Myanmar should be viewed as a long-term investment and that international companies need to be both present in the market and patient when doing business as change is happening at an incredible pace.
Watch the 3 minute highlight video that summarises the day below.
See more photos of the day here.