The leaders of seven foreign business groups in Yangon have signed an open letter calling on investors abroad to put their money in Myanmar, stressing the critical role foreign direct investment (FDI) plays in the country’s transition.
(Source: The Myanmar Times, February 7, 2019)
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Myanmar’s real GDP growth is projected to rise at a compounded annual growth rate of 7.2% in medium term. Although Myanmar Real Estate Association (MREA) expressed that private investors in the country are holding back investments in high-rising building projects, there exists a significant range of investment opportunities across every sector of the economy. Offering its low labor costs, strategic location and potential in human capital, the country’s investment opportunities lie strong interest luring the wider international business community. Meanwhile, Thilawa Special Economic Zone see more investments coming from Singapore and Hong Kong, trade with “Western” economies has also been critical for Myanmar’s economic growth. We expect to see economic and political reforms as we believe that this will attract and bring more and better investments to Myanmar.
Japan’s top envoy to Myanmar said that economic development is an answer to Rakhine’s conflict and that Tokyo is considering providing aid for the state.
(Source: The Myanmar Times, February 10, 2019)
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Despite its abundant natural resources and strategic location, Rakhine is among the poorest in the country as poor infrastructure and security issues remain key deterrents for the state in attracting investments. Home to the upcoming Kyaukphyu Special Economic Zone (in partnership with China) and Kalatan River Route Project (in partnership with India), there are opportunities in Rakhine awaiting for investors, especially in the tourism and energy sectors. Having gained interest from Japanese investors, particularly investing in agriculture, fishery and tourism in, it is important that the government secure investor interest and draw more funds for regional development. Looking ahead, we expect to see the cooperation between the government and the private sector to meet the development we anticipate to see in Rakhine.
Thilawa Special Economic Zone will attract more potential investments as it was implemented systematically, said Thaung Tun, Union Minister for Investment and Foreign Economic Relations on February 5. The one stop service center (OSSC) in the zone is providing quality services and help gain trust from the investors, said the Union Minister. He continued that the success of the economic zone, which was established in 2011, is viewed as “ideal”. Win Aung, Chair of Myanmar Thilawa SEZ Holdings Public Limited (MTSH), said they are developing phase 3 of the Zone B to the upcoming mass foreign investments in the zone.
(Source: Eleven Myanmar, February 8, 2019)
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Thilawa SEZ, Myanmar’s first and only Special Economic Zone is a prime instance of how an area can be developed by means of providing a quality space for foreign investments. While Phase 3 of the Zone B is underway, 97% of the Zone A and 61% of the Zone B are already sold, showing how the potential of this place is appealing to investors. Its advantages include good transport connectivity, assurance of electrical power and logistics supply, simplified application processes, and more. We can expect further developments coming about at there in near future. Meanwhile, other industrial zones should also have improved transport and energy infrastructure to gain more interest from investors and to keep up with the steadily growing demand.