Investment plays a vital role in developing a country.
Generally speaking, local and international investments are considered basic drivers that help boost a country’s economy.
Investments create job opportunities and stabilize a country’s monetary flow.
Thus, investments must be encouraged through several measures such as offering a balanced law, easing regulations, cutting red tape, reducing taxes, and making the investment process easier.
As local and international investments have a bearing on national interests, it is important to scrutinize them and the sectors they flow into.
All types of investments must be assessed, whether they flow into industry, agriculture, production and consumption of natural resources, services, trade, construction, or wholesale sectors.
Before deciding which investments are to be encouraged, we need to consider how many jobs they will create, whether the opportunities would be reserved for citizens alone, how much technology transfer would they involve, what kind of influence they would have, the socio-economic life of citizens, what potential disadvantages they may have, and finally, how they would impact the environment.
It would be rash to think that magnificent skyscrapers built by reputed construction enterprises will change the life of the general public.
Who benefits from the investment is a big question, along with its potential to help or harm the people.
The ultimate factor is responsible investment. Both local and international projects must be assessed on the basis of their impact on the environment, the checks they will put in place so that Myanmar’s culture and values are not harmed, and the attention they will pay to public healthcare and security.
The government has been constantly adjusting policies, rules, and regulations to bring them in line with international best practices and to make the investment climate more favorable, predictable, simpler, and friendlier.
The government of Myanmar is wholly committed to continued improvement in the country’s investment climate. All we ask is that investors approach investments responsibly and incorporate environmental, social, and governance factors (ESGs) in their enterprises.
It is also important that the rights of stakeholders, including employees, are prioritized through the creation of fair and favorable working conditions as part of the responsible investment approach.