16 May 2019
A workshop on investment promotion and facilitation for lower Myanmar was held in Yangon on Thursday.
The workshop aims to raise awareness among the investment committee members, DICA branch secretaries, and private-sector stakeholders of investment promotion best practices.
This is 2-day workshop for lower Myanmar and includes many sessions. On the first day, the representatives from respective committees discussed by the sessions.
The Permanent Secretary of Ministry of Investment and Foreign Economic Relations also expressed that the overview of the latest situation and recent trends regarding the overall investment in Myanmar. He also stressed to seek more investment opportunities in Regions and States.
Permanent Secretary, Ministry of Investment and Foreign Economic Relations, Aung Naing Oo said “We granted the states and regions for approval of the investment up to 5 million USD since two years ago. So, as the second step, we aim to raise and facilitate more on the investment services based on the previous capacity. We will discuss the facts that how we can promote the investment based on the strengths of country’s states and regions.”
The officials expressed that Myanmar’s Investment Industry is growing up more and the investors are increasing as well. Myanmar also targeted to reach 5,800 million USD investment for this year. But, the industry players said there are some difficulties and challenges in the investment promotion and facilitation.
Director of Strategy, DaNa Facility, Myo Myo Myint said “The first introduction of Investment promotion and facilitation was held at Kayin state and Yangon respectively since one and half year ago. The Investment Committees came to understand more about the facilitation, and now they are reapplying it in the practical work process. But we still have some difficulties such as governmental service and infrastructure. Moreover, the minority cities need to be in touch more with the investors.”
Ayeyawady, Bago, Kayin, Thaninthayi and Yangon Regions and Mon and Rakhine States are included in the workshop for lower Myanmar, and it was jointly organized by the International Trade Centre (ITC) and the DaNa Facility with funding from UK aid. The workshop on investment promotion and facilitation for upper Myanmar will be held in Mandalay from 20th to 21st of May.