Yangon RegionRegion Yangon
The Yangon Region Government explains possible investments during the 2018 Forum for Investments
Yangon Investments Forums 2018 will take place on May 9 at the Novotal Hotel in Yangon, where Yangon Region Government and related government officers will report on Yangon investments possibilities, said U Phyo Min Thein, Chief Minister of Yangon Region. It is organized by the Yangon Region Investments Committee with the participation and assistance of the Directorate for Investments and Corporate Administration (DICA), the German Society for International Co-operation ("Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH", GIZ) and the Myanmar Investors Development Association.
Preparatory work has been undertaken for the participation of some 500 international companies. The Myanmar Law and regulations; legislation, regulations and practices related to Yangon region related capital expenditures; possibilities and facts for capital expenditures; realizable programs; clear, precise and efficient working practices for capital expenditures in the Yangon region; company states in the Yangon region; and personal capital expenditures.
Investments in the Thilawa Special Economic Zone will be outlined and there will be an opportunity to address issues directly to civil servants of the local authorities and the ministries concerned. A discussion of the New Investments Application Procedure will take place in the mornings. Afternoons will be devoted to discussing investments in the Yangon region.
The four pavilion will present the latest developments and information on workflows and workflows, such as the Investment Application Guide Book, Doing Business in Yangon and the Taxation Guide Book for business people and investment professionals. Phyo Min Thein said that the New Yangon Development Company Limited, held by the government of the Yangon region, was founded and is carrying out new missions in Yangon.
The Yangon Region Government had encouraged the participation of companies, both locally and internationally, in these initiatives and will present and encourage investment during this forums. Mr. Bangemann added that the event was organized to attract overseas investment with the goal of making Yangon a cleaner, prosperous and constitutional place of doings.
"Investment is entering and the purpose of the Platform is to boost investment dynamism. It' s about introducing those who didn't know about the possibilities," said U Phyo Min Thein. We must prevent it from becoming a waste dump for companies that harm the environment," he said. Prospective investor from ASEAN region states, Korea, Japan and China are currently debating and bargaining with the local authorities on investment in roads, energy, residential buildings and plants.
It also said that priorities will be given to skilled companies at home and abroad that can deliver good value for money, while creating an incentive for companies that generate more jobs. The DICA reports that 60 percent of investment is in the Yangon region and 30 percent in the Mandalay region.
Investments in other countries and geographies are low. The Myanmar Region has received approval from the Myanmar Government to invest 582 Myanmar companies and 846 international companies in the Yangon region from 1994-1995 until the end of January 2018. In February 2018, companies in Myanmar spent more than Ks 708 billion, while FDI amounted to USD 2.84 billion, said U Myo Khaing Oo, Yangon Region Regional Committee and DICA Chair.