Vice President U Nyan Tun expects SPIEF to counter global challenges to energy, economy, geopolitics

Vice President U Nyan Tun attends 19th St. Petersburg International Economic Forum.
Vice President U Nyan Tun attends 19th St. Petersburg International Economic Forum.

The forum’s theme reflects the challenges facing the global financial system and current integration processes and collaboration between oil, gas and energy industries, Vice President U Nyan Tun on Friday told the 19th St. Petersburg International Economic Forum under the theme “Time to Act: Shared Paths to Stability and Growth”.
He expressed his belief that the forum will come up with an engaging platform for pressing issues of global economic downturn, financial instability, integration processes of international trade, infrastructural projects and geopolitics.
Myanmar has become a new economic hub of Asia as the country is sandwiched between two Asian giant economies, China and India, with the vice president adding that the government is putting more effort into transparency and accountability in the systematic exploitation of natural resources.
Effective legal support mechanisms have become a magnet for more foreign investments, he said, citing natural gas, electricity, minerals and tourism as attractive industries for foreign investors.
On the sidelines of the forum, Myanmar and Russia signed a cooperation deal for peaceful use of nuclear energy.

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