Business Survey & Guides: Business Confidence Survey 2019 And Business Guides 2020 Launched

The launching event of “Business Confidence Survey 2019 and Business Guides 2020” was held in Yangon on Tuesday.

The 3rd annual business survey provided by European Chambers of Commerce in Myanmar is mainly ideal to the European countries actively doing Business in Myanmar.

The survey provided the overview contents including the top challenges and opportunities for European countries as well as how European countries are confident about the future business growth in Myanmar. The executive director of EuroCham Myanmar delivered the opening keynote speech and conducted the presentation on the 2019 business confidence survey and new business guides.

Executive Director, EuroCham Myanmar, Marc de la Fouchardiere said “When it comes the confidence of European businesses in Myanmar market, we see that in 2016 and 2017, it is very high and growing the confidence. At the end of 2017, it drops dramatically and in 2019, the rate started increasing the confidence again which is very good news. The legislative framework is still unclear to European companies and many changes and complexity in framework and this is the role of EuroCham to work together with the government and to make clear for the European countries in what is the business frame work in Myanmar.”

Director General of Directorate of Investment and Company Administration also gave remarks. The event carried on the two panels of the business representatives from European countries including Germany, France, Britain and Italy about finding Business Confidence.

Deputy General, Directorate of Investment and Company Administration, Thant Sin Lwin said “The total investment of European countries in Myanmar is 8 percentage of the foreign investment. We need to invite more investment and need to inform the EuroCham that the survey we are launching and the government efforts for the country’s economic development.”

The regulatory framework, lack of a qualified labour force, difficulty in market presentation and legal uncertainty are the top main challenges in Myanmar for European entrepreneurs, according to the survey.

The survey was based on the experiences in over 70 companies from European countries which are the 98 percent of all the European countries doing business in Myanmar.