Building back better with quality investment in post-COVID-19

gnlm opinion

While taking a Whole-of-Nation approach for prevention, control and treatment of COVID-19 pandemic, our country is also implementing the COVID-19 Comprehensive Economic Relief Plan (CERP) to mitigate the impact of the pandemic.
Our united efforts between the Union Government and the people proved successful in coping with the first wave of the coronavirus, but we are facing the challenge of a second wave.
Amidst the second wave of the COVID-19 pandemic, a delegation from the US International Development Finance Corporation-DFC recently visited Myanmar to explore investment opportunities and underscore the long-term US commitment to invest in Myanmar’s economic development.
About one week ahead of the US business delegation’s visit, Hong Kong business enterprises and those already present in Myanmar expressed a keen interest in Myanmar’s significant investment potential including areas as diverse as energy, transport, banking and finance, retail and services during a recent webinar organized by the Myanmar-Hong Kong Chamber of Commerce and Industry.
Meanwhile, foreign investor interest in Myanmar has remained resilient. Indeed, for the first time in years, Foreign Direct Investment for a single budget year has passed the USD 5 billion mark, according to the Ministry of Investment and Foreign Economic Relations. With several new proposals for major projects in the power, manufacturing and the real estate sector now under active consideration by the Myanmar Investment Commission, the prospects look bright.
With a modernized investment law, improving energy security and public health, along with abundant resources, our country is still an attractive destination for investors.
To revive our economy in the post-COVID-19, we need to obtain a huge flow of investment into our country and we are inviting qualified, responsible investments.
Ensuring the continued flow of appropriate and responsible investments into Myanmar will play an essential role in supporting a more resilient and sustainable economic recovery and in building back better.
To achieve this, we must continue to create an environment in which most banking opportunities tend to present themselves when open and competitive markets exist, where transparency is valued, where the rule of law is strong and where individual liberty is respected.
We understand that meaningful growth and quality job creation will not be achieved without continued quality investment – quality investment that creates quality jobs.
Our country’s recent social and economic progress and investment-related reforms are designed to attract responsible and quality investment.
We would like to urge investors to capitalize on Myanmar’s potential for investment in sectors such as energy, agriculture and infrastructure.

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