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Suu Kyi calls for investment in Myanmar

Feb '19
Courtesy: Republic of the Union of Myanmar
Courtesy: Republic of the Union of Myanmar
Counsellor Aung San Suu Kyi urged global investors to invest in Myanmar by citing advantages like geographical location and lower labour costs as she inaugurated the Invest Myanmar Summit in Nayu Pyi Taw recently. Myanmar seeks to pursue market-friendly policies and integrate with the region to come out of the low-income, low-growth trajectory, she said.

The two-day summit was organised by the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, the Myanmar Investment Commission and the Directorate for Investment and Companies Administration.

“Myanmar’s enviable geographical location makes us both a strategic market, as well as a crossroads between China, India, Bangladesh, Laos and Thailand,” she said in her speech published by the Myanmarese Government.

The ASEAN+3 Macroeconomic Research Office suggests that Myanmar’s economy is expected to grow by some 7.4 per cent in fiscal 2018-2019, up from 6.8 per cent during 2017-18, and from 5.9 per cent the previous year, she said.

Inflation too is forecast to stabilise at 5 per cent during 2018-2019, she said.

A comprehensive social, economic and environmental policy reform agenda, called the Myanmar Sustainable Development Plan or MSDP, the introduction of the Myanmar Investment Law in 2016 and the new Myanmar Companies Act that came into effect in August last year are all reforms that global investors should exploit, she emphasised. (DS)

Fibre2Fashion News Desk – India

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