US, Japan investors wooed by Myanmar at forum

Sub-title: 

Myanmar continues to woo Japan and the US as a source of investments even as the global growth outlook dims considerably with investors preferring to stash their money in safe-haven assets such as US Treasuries and gold.

Description: 

"State Counsellor Daw Aung San Suu Kyi, who gave the keynote speech at the Myanmar-Japan-US Forum on Fostering Responsible Investment held on August 20, held up Myanmar’s strategic location between South Asia, China and the rest of ASEAN, a growing economy as well as reforms that were underway as reasons why US and Japanese investors should look to the country as an investment destination. “Myanmar, positioned at the crossroads of Asia, constitutes a key bridge between East and West; a link between India and China, a doorway to ASEAN. Myanmar seeks to capitalise on this favourable position by connecting these rising geo-economic regions, offering a strategic trade conduit, providing a gateway to the Indian Ocean, and thus benefitting the country and the region broadly,” she said. Her speech comes at a time when foreign direct investment (FDI) commitments, an indication of future FDI flows, has slowed down according to the December 2018 edition of the Myanmar Economic Monitor published by the World Bank. The Directorate of Investment and Company Administration (DICA) expects US$5.8 billion in FDI for the current fiscal year between October 1, 2018 and September 30, 2019, little changed from the $5.7 billion that was received in fiscal 2017/2018, which began on April 1, 2017 and ended on March 30, 2018. DICA data showed that for fiscal 2016/2017, the country received $6.6 billion of investments..."

Creator/author: 

Thiha Ko Ko

Source/publisher: 

"Myanmar Times"

Date of Publication: 

2019-08-21

Date of entry: 

2019-08-21

Grouping: 

  • Individual Documents

Category: 

Countries: 

Myanmar, USA, Japan

Language: 

English

Resource Type: 

text

Text quality: 

    • Good