International Chambers of Commerce highlight the potential in Myanmar
12 Feb

International Chambers of Commerce highlight the potential in Myanmar

International Chambers of Commerce in Myanmar from Australia, Britain, Europe (EU), France, Germany, Italy, and The United States have come together as signatories to publish their encouragement for more foreign investment in Myanmar. Their compatriots, and indeed investors from many more countries are investing in Myanmar as the economy continues to grow.

The text explains, “Having been in isolation for so long, Myanmar now requires the broad regeneration of its economy to meet the demands of modern-day trade. As a result, there exists a significant range of private sector investment opportunities across every sector of the economy. Existing investments by our members contribute significanty to transformative social and economic development from within Myanmar,” [with] established international standards of corporate governance and sustainable responsibility.”

Last year The Government of Myanmar published the Myanmar Sustainable Development Plan (MSDP) for 2018 – 2030 providing a long term vision to attract US$200 billion. The plan also highlights the fact that Myanmar is the largest country in mainland Southeast Asia with a population of 53 million and located strategically between China and India. Myanmar plays a significant role, geographically, economically and politically, in the most rapidly advancing region in the world. A country that has been isolated for much of the past six decades.

In our January blog we reported on the highly successful Invest in Myanmar Summit. The message is clearly spreading far and wide and is being heard by companies.

Companies investing in Myanmar are listed from 49 countries by the Directorate of Investment and Company Administration (DICA). The top 16 by value are shown below with China, Singapore, Thailand and Hong Kong companies heading the list with the UK listed as N°5.

Foreign Investment of Permitted Enterprises as at 31 December 2018 (US $million).

1 China 20353.528
2 Singapore 20337.703
3 Thailand 11124.715
4 Hong Kong 7900.472
5 U.K 4517.663
6 Republic of Korea 3892.136
7 Vietnam 2161.103
8 Malaysia 1963.124
9 The Netherlands 1531.671
10 Japan 1183.921
11 India 763.567
12 France 549.740
13 U.S.A 432.796
14 Indonesia 274.530
15 Canada 203.594
16 Australia 145.799

Total 80126.675 (US $million)

FocusCore also saw the potential in Myanmar and we opened our offices here in 2014. The range of overseas companies we are helping grows not only in quantity but also across the growing range of countries they represent. We have said before that Myanmar is seen as the last area to emerge on the global stage, offering substantial growth potential across all sectors. Yes, companies need to follow Myanmar guidelines and we in FocusCore are here, specifically, to help companies start trading in Myanmar – quickly. We also provide up to date advice on the various investment incentives that may apply to each sector and region. Call us today to gain valuable information and grow your operations in the region.

Comments are closed.