NAY PYI TAW, June 7 (Xinhua) -- An investment forum is underway in Myanmar's Nay Pyi taw to seek ways to attract increased foreign investment into the country for the development of its economy and trade.
The two-day Myanmar Investment Forum-2017, which began on Tuesday, is hosted by the Myanmar Investors Development Association (MIDA).
The forum is aimed at providing investors with the ease of doing business in Myanmar, Vice President U Myint Swe told the opening session, stressing that foreign direct investment has become the main driver to promote the inflow of much-needed foreign capital in the country as it relies on foreign capital and trade for socio-economic development.
U Khin Maung Aye, chairman of the MIDA, said the forum aims to smoothen the path towards increased investment in Myanmar by both domestic and foreign entrepreneurs, emphasizing the need for creating best investment environment for them to do business in the country energetically.
He said the government has created a fair competitive environment for investors and a reliable legal framework to work with, significantly reducing the risk and danger for businesses in Myanmar, which he described as one of the best places for investors.
Noting that there is a lot to develop in the agricultural sector, U Kyaw Win, Minister of Planning and Finance, pledged that the government would try its best to bring about economic enterprises with full responsibility and accountability so as to create more job opportunities while implementing open, environmentally-friendly policies.
U Aung Naing Oo, director-general of Myanmar Investment Commission, called for amendment to laws on economy to encourage foreign investment and make efforts to develop small and medium enterprises (SME), while making reform in many other sectors.
Topping the agenda at the forum are investment opportunities in special economic zones in Dawei, Thilawa and Kyaukphyu as well as industrial zones in various regions across Myanmar. In addition, there will also be discussions on possible changes in the financial sector to boost financial stability for investors.
The forum is being attended by over 100 economic organizations, over 90 foreign enterprises and nearly 200 Myanmar businessmen.
