1 May 2019
A U.S Trade Mission which includes 12 big companies visits Myanmar to seek investment opportunities.
On Tuesday, a business meeting between the Republic of the Union of Myanmar Federation of Chambers of Commerce & Industry (UMFCCI) and U.S Trade Mission took place, in order to understand about the business climate in Myanmar.
U.S Trade Mission discussed about the matters related to the trade and investment laws in Myanmar and business opportunities.
As Myanmar is reforming its economy and also Myanmar’s frontier market offers significant first mover advantages, U.S firms are willing to enter.
The US Ambassador to Myanmar stressed that recent reforms in economic policies attract more foreign investments, and more American companies are eyeing the country for investment.
Ambassador, U.S Embassy to Myanmar, H.E. Scot Marciel said “We want to do everything we can support - business community and others to continue building and achieving your goal...... With recent the relaxation of wholesale and distribution market seeming American companies coming in now and persuading the investment in those sector. So Myanmar continues down the pave of the reforms, we will see more and more U.S companies coming to look at trade and investment in franchising opportunities.”
American Chamber of Commerce Myanmar in partnership with the U.S Commercial Service in Myanmar invited American firms from East and Southeast Asia to join a U.S Trade Mission to Myanmar.
Local industry leader also expressed that U.S. goods, services and technology are in high demand, and the American companies already operational in Asia are especially well positioned to expand sales and win new business in Myanmar.
Vice President, UMFCCI, Dr. Maung Maung Lay said “Since U.S goods are high demand especially in infrastructure. The trade and investment potential between the two countries seem to be positive. Meanwhile, our government is also supporting, relaxing and amending laws for the ease of doing business and Foreign Direct Investment Promotion. Also, we always support and help a hand to all investors who want to invest in Myanmar.”
As of 30th of March 2019, U.S ranked 13th out of 49 investment countries with the investment amount of over 432 million USD in 20 projects. Also, the bilateral trade between the two countries reaches 160 million USD in the first two month of this year and it’s expected to hit Billion by the year end.
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