Myanmar Investment Forum 2017: Myanmar: Best Destination for Investment (Opportunities in Special Economic Zones, SEZs, Other Economic Zones and
Industrial Parks)
6-7 June 2017
Nay Pyi Taw, Myanmar
Concept for the Forum
In the wake of the historic elections in November 2015, the international community remained optimistic about Myanmar’s economy and private investors also continued to be eager to do business in Myanmar. The United States Administration lifted its economic sanctions in October 2016.However, a convergence of many factors, both domestic and international, contributed to a deceleration in new investment flow. Although the economy grew at an average of 8.5 percent per year in 2013 and 2014, economic growth eased to 7 percent in 2015-2016.Despite all that, the World Bank considers Myanmar as remaining one of the fastest growing economies of the world. It said Myanmar economic prospects are still strong so long as the government can reduce the budget deficit and increase spending on public services and growth to offset the impact of lower commodity prices. If private investments begin to pick up, real GDP growth in Myanmar is projected to rise to 7.8 percent, and average 8.2 percent per year over the medium term.
Well aware of the factors contributing to decrease in investment flow, the current government took various steps designed to make Myanmar an easier and attractive place to do business and thus to boost investment. The formation of the new Myanmar Investment Commission, the adoption of a 12-point economic policy and the subsequent adoption of the Myanmar Investment Policy are such steps. These measures, together with other on-going reform measures, are aimed at showing to the would-be investors the transparency and accountability on the part of the government, thus dispelling any lingering doubt or concerns of investors over the investment climate in Myanmar.
At the same time, The Special Economic Zones (SEZs) and Industrial Zones have been established as economic drivers for growth and development. At present, three SEZs have been designated – one close to Yangon, the commercial capital of Myanmar, another in Dawei in the South of the country with direct access to Thailand, Cambodia and Vietnam and the third one in the South West with overland links to Kunming in China. Plans are now being made to establish an another Special Economic Zone in Southern Yangon Region. The new zone will have an international airport and a deep-sea port nearby. Work for its establishment is said to begin in 2018. It is hoped that the SEZs and the Industrial Zones will be attractive to foreign investors looking for new and profitable opportunities.
The Myanmar Investment Forum 2017 is the inaugural forum organized by the Myanmar Investors Development Association (MIDA), aimed at providing a platform for leading Government officials and Representatives of local and international businesses to explore and discuss possible investment opportunities in Myanmar. It will be an opportunity for both domestic and international participants to network with each other. Most importantly, it will also constitute a reaffirmation of the Government’s commitment to create a supportive environment for all investors and to facilitate foreign investments. The final objective, therefore, is to strengthen, through the discussion among all the stakeholders, the confidence of both local and foreign investors in the prospects of the Myanmar economy and, thereby paving the way for taking concrete decisions on investment.