IIn his welcome remarks, U Zaw Min Win, President of UMFCCI said the Invest Myanmar Summit 2019 aimed to “create awareness and elevate the endeavours” of the Union Government in improving the business climate of Myanmar.
He also expressed the hope that the Invest Myanmar Summit could support ongoing liberalisation and reform efforts by facilitating “firsthand discussions on a platform with the Union Government, regional and state governments and all relevant stakeholders”.
Invest Myanmar Summit 2019
28 January 2019
Myanmar Convention Centre 2, Nay Pyi Taw, Myanmar
Honourable Union Minister, Chief Ministers of State and Regional Governments, honourable ambassadors and officials of foreign missions, distinguished officials of Foreign Chambers of Commerce, and business organisations, distinguished international and local investors and businessmen, officials of UMFCCI, affiliated associations, invited guests, participants, ladies and gentlemen, mingalabar and a very good morning to all of you.
On behalf of our organisation, UMFCCI, I feel extremely honoured and pleased to extend my warmest welcome and thanks to all of you present here for participating in this auspicious Invest Myanmar Summit 2019. I especially wish to express my heartfelt gratitude and sincere thanks to Her Excellency, the State Counsellor for gracing this auspicious occasion this morning with her kind presence and delivering of a remarkable keynote address that inspired and motivated the audience. It may greatly contribute to what’s inspiring our business community in fostering investment and trade for Myanmar’s economic development and to benefit all parties.
Excellency, distinguished delegates, ladies and gentlemen, in organising this grand event with the kind cooperation and support of the Union and Regional Governments, relevant ministries, well-wishers and sponsors, we have two equally important objectives in mind. The first one is regarding organising it in honour of the centennial celebration of our Union of Myanmar Federation of Chambers of Commerce and Industry – UMFCCI – which was founded in 1919, the same age as the International Chamber [of Commerce]. It is now a 100-year-old national apex business organisation, representing and promoting the private sector business community, and it has been endeavouring steadfastly, with the continuous collaboration and cooperation of the Governments, Ministries, and our members.
The second objective is to create awareness and elevate the endeavours of this present Myanmar government. Liberalisation and deregulation policies by sequential democratic reform, through first-hand Invest Myanmar Summit discussions on a platform with the Union Government, Regional and State Government and all relevant stakeholders in investment, trade, finance, and update economic information. The information are for overseas and local business people and the media, and to track foreign and local investors in identified, prioritised areas such as manufacturing, and power sector, infrastructure, construction, agriculture, food processing, logistics, education, healthcare and tourism, among others.
The Invest Myanmar Summit itself is the perfect platform for investors and business people, since it provides direct access to accurate business information on the Project Bank, wherein the most effective and publicly beneficial projects, in line with the Strategic Action Plans, are set forth in the Myanmar Sustainable Development Plan (MSDP). It will be a great opportunity to attend the briefing by the different ministries concerned, followed by the interactive discussions on several approved projects.
Besides, it is also the Myanmar Regional Government showcasing the business opportunities, enhancing greater awareness on the improving investment climate of divisions, regions and states. And at the same time, it showcases collaboration between Government and the private sector, presenting a united front to the international business community.
Excellency, ladies and gentlemen, the present Myanmar economy is growing, and it is rightly one of the foremost growing in the region, and growth estimated for the years to come are promising. Our government has adopted a trial economic guideline in 2016 and set up the Myanmar Sustainable Development Plan (2018 – 2030) to be in line with the seventeen Sustainable Development Goals (SDGs), which cover all aspects of the economy, and designed to attract investment, promote sustainable economic development, increase employment and foster private sector growth.
A concrete example of this endeavour is the Project Bank. It is of vital importance to implement this strategic action plan of MSDP, which is publicly accessible on the Project Bank by the government through enhancing investments, both domestic and FDI, for economic and social development. It will provide a new framework for public-private partnerships and enable the private sector to invest in debt and straight assets.
Tax and business incentives are granted by the new Investment Law. Besides, the new Myanmar Company Law (2017) allows foreign investor to hold up to 35 percent of shares in domestic firms.
We all are aware of the relentless effort our government is making to implement its economic policy through reform facilitations and liberalisations, enacting new laws, rules and regulations. and then by revising and harmonising existing ones. All these efforts are aimed at inviting both local and overseas investments to develop our country’s abundant and rich natural and human resources, share the opportunities on a win-win basis, and help build our economic development and prosperity through public-private partnerships. These comprehensive reform measures definitely will lead to economic development, supporting the government’s peace process and overall prosperity.
Excellency, ladies and gentlemen, we collectively call upon the local and overseas business investors not to miss this opportunity to meet potential Myanmar and foreign investors, and business partners in one-to-one business-matching, interactive sessions at this event. I assure you that our organisation, UMFCCI, thus forth will facilitate and expedite all ventures that may arise from this event in order to make them fruitful.
Excellency, ladies and gentlemen, finally, allow me to conclude by expressing once again our sincere heartfelt thanks and gratitude to Her Excellency State Counsellor, who graced this event with her presence earlier and excellency, dignitaries, distinguished guests, for your kind presence. Profound gratitude are also extended to all members of the overseas and local business community for their kind participation and cooperation. Our appreciation to well-wishers, sponsors, and the Invest Myanmar Summit organising committee. Event organisers, volunteers, staff of the UMFCCI and to all of you for the strong support and cooperation extended to make this event a grand success.
I wish you, our overseas guests, a pleasant and successful visit to our event of golden pagodas with golden opportunities. To all of you, we wish you all the very best in 2019, with the best of health, happiness and success.
Thank you very much for your kind attention. Thank you.