Aug 9, 2012

Myanmar Expects To Attract FDIs With New Law

Myanmar expects to be among the favourite destinations for foreign direct investment (FDI) in the future once it enacted its foreign investment law (FIL).

Vice president, Union of Myanmar Federation of Chambers of Commerce and Industry, Zaw Min Win said the enactment of Myanmar's foreign investment law, expected to be announced by the end of the month, would positively attract FDIs and spur trade between Myanmar and other countries, including Malaysia.

"A lot of major investors such as Japan and China have shown their interests in doing foreign business with Myanmar, however, they are likely to wait for the announcement of the foreign investment law by the government," he said.

Myanmar is currently implementing reform measures to build a democratic nation, as such the government was preparing to enact a new FIL that would be of international standards.

Min Win was speaking to reporters on the sidelines of "Opening of Myanmar Market: New Business Opportunities" conference organised by the Federation of Malaysian Manufacturers (FMM) here Thursday.

Source: BERNAMA