Rakhine State Investment Fair

“ No return on investment was ever made by staying on the sidelines” : First Rakhine Investment Fair successfully launched.

“ Every kyat spent by this government, every dollar disbursed by our development partners and every dollar invested by the private sector is a vote of confidence in the resilience and potential of Rakhine and its people.”

Daw Aung San Suu Kyi, State Counsellor

Ngapali, Myanmar, 22 February 2019 – The first Rakhine State Investment Fair kicked off with a clear message that responsible, sustainable, and mutually beneficial investment is warmly welcomed in Rakhine State, and that the Government of Myanmar remains firmly committed to establishing a welcoming investment environment for all.

Delivering the keynote address, State Counsellor Daw Aung San Suu Kyi highlighted the positive role that that foreign investment can play in fostering stronger people-to-people relations and expressed thanks to both foreign and domestic investors for their pragmatic, ‘can do’ attitude, and for the enthusiasm and innovation they bring.

The State Counsellor noted that despite Myanmar having benefited from the opening up of the country’s economy, much of Rakhine’s economic potential has, until now, remained untapped. The State Counsellor noted that this was due in part to the ongoing situation in the three northernmost townships of Rakhine State, and that the Government of Myanmar was doing its utmost to address security and humanitarian needs, in line with the recommendations contained within the Final Report of the Advisory Commission on Rakhine State led by the late Dr. Kofi Annan.

“ All of us here can play a role in the endeavor to lay strong foundations for the sustainable development of Myanmar by investing in the sustainable development of our Rakhine State.”

Daw Aung San Suu Kyi, State Counsellor

The State Counsellor drew attention to the role that Special Economic Zones (SEZ) can play in the development of Rakhine State, noting that when managed well, SEZs can provide a dynamic source of economic growth, generating jobs and renewing hope for communities, and creating opportunities for a variety of related off-shoot industries.

“[Special Economic Zones] also open the way for the active participation of home-grown Rakhine firms and SMEs in investment supply lines. They offer investors and communities a ‘win-win’ outcome as more jobs are created and greater good-will is generated, while related cost reduction brings in companies from further afield.”

Daw Aung San Suu Kyi, State Counsellor

The State Counsellor reminded all stakeholders of the need to ensure that benefits obtained from investment projects must be shared equitably amongst all communities.

In drawing attention to investment potential found in the oil and gas sector, the State Counsellor noted that the Government of Myanmar hopes to see more offshore gas fields developed over the coming years, and that these could be used to support the greater electrification of Rakhine, as well as to create industries that can produce value-added agriculture and fishery products for export.

The State Counsellor’s keynote address was followed by a speech delivered by the Union Minister for Investment and Foreign Economic Relations and Chairperson of the Myanmar Investment Commission (MIC) U Thaung Tun, in which he stated that by promoting investment in Rakhine, all stakeholders can together help to ensure a prosperous, peaceful and inclusive future for all its people.

The Union Minister highlighted Myanmar’s rich diversity, that it was in this diversity in which the nation can find strength, and that investment can help build upon this diversity.

“Myanmar has such great potential precisely because we are such a diverse country — consisting of peoples and communities, with distinct languages, cultures and traditions. Investment can build upon this diversity — bringing new ideas, new technologies, new ways of doing business — helping communities connect, beyond boundaries, through borders, and across continents.”
U Thaung Tun, Union Minister for Investment and Foreign Economic Relations

U Thaung Tun, Union Minister for Investment and Foreign Economic Relations

The Union Minister highlighted the complementary role played by the new Myanmar Sustainable Development Plan (MSDP) and the Myanmar Investment Promotion Plan (MIPP).

“Myanmar has such great potential precisely because we are such a diverse country — consisting of peoples and communities, with distinct languages, cultures and traditions. Investment can build upon this diversity — bringing new ideas, new technologies, new ways of doing business — helping communities connect, beyond boundaries, through borders, and across continents.”

U Thaung Tun, Union Minister for Investment and Foreign Economic Relations

Concluding his remarks with a rousing call to action, the Union Minister reaffirmed the Government of Myanmar’s commitment to doing all in its power to resolve long and complex challenges, while noting that such challenges can be exacerbated and prolonged by continued under-investment.

With messages tailored to various individual stakeholder groups present, the Union Minister rallied the audience stating:

“They say that you can’t get people to believe in your dream until you believe in it yourself. I believe in Rakhine State. I believe in the dream of a prosperous, peaceful, diverse and economically vibrant Rakhine State.”

U Thaung Tun, Union Minister for Investment and Foreign Economic Relations

About Rakhine State Investment Fair 2019 (https://www.investrakhine.com/)    

The Rakhine State Investment Fair is headed by Rakhine State Government and Myanmar Investment Commission (MIC), jointly organized by Japan International Cooperation Agency (JICA) and Japan External Trade Organization (JETRO) and supported by Myanmar Survey Research (MSR), Parami Energy Group of Companies, Mango Media Group, Blue Ocean Operating Management and JTB Polestar Co Ltd.

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