300 foreign companies to attend Burma investment summit
Burma will launch an investment conference expected to draw up to 300 foreign companies to Rangoon on Wednesday and Thursday, according to organizers.
The organizer, Singapore-based CMT, said the “New Myanmar Investment Summit 2012” is expected to draw participants from around the world. Mizzima is a media partner.
Participants will discuss investment opportunities in Burma’s key economic sectors with senior government officials and Burmese businessmen. Topics include the new foreign investment law, land rights, relocating manufacturing operations in Burma, and investment sectors including agriculture, oil and gas, mining, electric power and manufacturing.
An opening address will be delivered by Deputy Minister of National Planning and Economic Development Ministry Dr. Kan Zaw, said the organizers. Director General U Aung Naing Oo from the Directorate of Investment and Company Administration (DICA) will deliver a keynote address on “New Investment Law and its Opportunities for Foreign Investors,” and papers will be read by Deputy Director Tin Tin Htoo of the Ministry of Industry, Director General Htin Aung of the Directorate of Energy Planning, and Director Win Htein and Director Kyaw Thet of the Mining Ministry.
Conference Director Evelyn Pacot of Hong Kong-based Bagan Capital, Investment and Economic Consultancy Company for Burma said agreements on joint venture operations, finding appropriate joint venture companies, intellectual property copyrights and protections on domestic and foreign joint ventures will also be covered.
Another CMT summit “Into Myanmar: Agri Trade, Investments & Infrastructure Global Summit 2012” will be held in Rangoon on July 25 and 26.
Total foreign investment in Burma reached US$ 40.699 billion in 458 projects as of March 2012, since the country opened to foreign investments in late 1988, according to official figures.
Of the 31 countries and regions investing in Burma, China leads with $13.947 billion for 34.5 percent, followed by Thailand with $9.568 billion, Hong Kong with $6.308 billion, South Korea with $2.938 billion, Britain with $2.659 billion and Singapore $1.818 billion.
