Burma's economic relations with Singapore

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Sub-title: Over the years, the Myanmar government has stepped up its efforts to bring in foreign direct investment (FDI) to the country. Being more pro-business and open to FDI, potential opportunities for foreign companies willing to invest in Myanmar are vast, particularly in the construction industry as one of the main pillars of the economy.
Description: "YCP Solidiance, an Asia-focused strategic advisory firm, recently hosted a week-long Overseas Market Workshop (OMW) visit for the Singapore Business Federation (SBF), with the aim of helping Singaporean companies in Yangon explore investments in Myanmar’s construction sector. The workshop also coincided with the visit of Singapore’s Minister of Trade & Industry Chan Chun Sing in Yangon, highlighting the importance of greater collaboration between the two countries following the recent signing of the Singapore-Myanmar Bilateral Investment Treaty . This treaty aims to promote greater investment flows between the two countries in many sectors, including construction, by protecting the interests of investors and providing greater certainty and confidence. Singapore is Myanmar’s largest foreign investor with a cumulative investment of US$22.1 billion recorded as of August 2019. Bilateral trade in goods between the two countries has increased by 10 percent and reached US$4 billion in 2018. The workshop indicated new opportunities for investment in the construction sector, following the growth rates of around 11pc in recent years. Transport infrastructure opportunities include trunk road network modernisation, expansion of interconnectivity through roadways and elevated highways, improving access to tier two and three cities via bridges and commuter rails, and alternative transport options such as water-taxi or structured bus system..."
Creator/author:
Source/publisher: "Myanmar Times" (Myanmar)
2020-01-16
Date of entry/update: 2020-01-17
Grouping: Individual Documents
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Description: "A new treaty was signed in Yangon yesterday allowing Singapore companies in Myanmar to turn to international arbitration for disputes over investment. Minister for Trade and Industry Chan Chun Sing and U Thaung Tun, Union Minister for Investment and Foreign Economic Relations, signed it on the sidelines of the 7th Singapore-Myanmar Joint Ministerial Working Committee meeting. The legally binding treaty sets rules on how Myanmar and Singapore should treat investments and investors of the two countries, said the Ministry of Trade and Industry (MTI). It also ensures the freedom to transfer capital and returns, compensation rights and non-discriminatory treatment for investors in most sectors, among other things. The Bilateral Investment Treaty on the Promotion and Protection of Investments between Singapore and Myanmar aims to promote greater investment flows between the two countries by giving investors greater certainty and confidence. Mr Chan, in a Facebook post, said its signing marked another milestone in economic ties between the two countries and he expressed hopes it would encourage more Singapore companies to invest in Myanmar..."
Creator/author:
Source/publisher: "The Straits Times" (Singapore)
2019-09-25
Date of entry/update: 2019-10-26
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Description: "A new treaty was signed in Yangon yesterday allowing Singapore companies in Myanmar to turn to international arbitration for disputes over investment. Minister for Trade and Industry Chan Chun Sing and U Thaung Tun, Union Minister for Investment and Foreign Economic Relations, signed it on the sidelines of the 7th Singapore-Myanmar Joint Ministerial Working Committee meeting. The legally binding treaty sets rules on how Myanmar and Singapore should treat investments and investors of the two countries, said the Ministry of Trade and Industry (MTI). It also ensures the freedom to transfer capital and returns, compensation rights and non-discriminatory treatment for investors in most sectors, among other things. The Bilateral Investment Treaty on the Promotion and Protection of Investments between Singapore and Myanmar aims to promote greater investment flows between the two countries by giving investors greater certainty and confidence. Mr Chan, in a Facebook post, said its signing marked another milestone in economic ties between the two countries and he expressed hopes it would encourage more Singapore companies to invest in Myanmar..."
Creator/author:
Source/publisher: "The Straits Times" (Singapore)
2019-09-25
Date of entry/update: 2019-10-26
Grouping: Individual Documents
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Description: "Myanmar and Singapore have signed an agreement on promotion and protection of investment between the two countries, according to the Ministry of Investment and Foreign Economic Relations Wednesday. The agreement was endorsed at the 7th ministerial meeting of the Joint Committee of Myanmar and Singapore held in Yangon on Tuesday. The agreement is said to create a more favorable, friendly and predictable investment enabling environment for investors from both countries and further enhance the two countries' bilateral trade and investment relationship. Prior to the signing, Myanmar's Minister of Investment and Foreign Economic Relations U Thaung Tun and Singapore's Minister of Trade and Industry Chan Chun Sing had discussions on a wide range of topics covering bilateral cooperation in investment area, development of small and medium-sized enterprises, aviation, agriculture, food, finance and legal services..."
Creator/author:
Source/publisher: "Xinhua" (China)
2019-09-25
Date of entry/update: 2019-09-30
Grouping: Individual Documents
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Description: "A new treaty was signed in Yangon on Tuesday (Sept 24) allowing Singapore companies in Myanmar to turn to international arbitration for disputes over investment. Minister for Trade and Industry Chan Chun Sing and Union Minister for Investment and Foreign Economic Relations U Thaung Tun signed it on the sidelines of the 7th Singapore-Myanmar Joint Ministerial Working Committee Meeting. The legally-binding treaty sets rules on how Myanmar and Singapore should treat investments and investors of the two countries, said the Ministry of Trade and Industry (MTI). It also ensures the freedom to transfer capital and returns, compensation rights and non-discriminatory treatment for investors in most sectors, among other things. The Bilateral Investment Treaty on the Promotion and Protection of Investments between Singapore and Myanmar aims to promote greater investment flows between the two countries by giving investors greater certainty and confidence. Mr Chan, in a Facebook post, said its signing marked another milestone in economic ties between the two countries and he expressed hopes it would encourage more Singapore companies to invest in Myanmar. MTI said in its statement that the treaty’s protections are especially significant as Singapore is Myanmar’s largest foreign investor, with a cumulative investment of US$22.1 billion (about S$30.5 billion) as of last month . Bilateral trade reached US$3.838 billion in the fiscal year 2017/18, figures from Myanmar’s Ministry of Commerce showed..."
Creator/author:
Source/publisher: "The Straits Times" (Singapore)
2019-09-24
Date of entry/update: 2019-09-25
Grouping: Individual Documents
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