Jun 18, 2013

Now is opportune moment for foreign investors: President

Now is the best time for foreign investors because of the government’s relaxations on foreign investment sector, said President Thein Sein during his meeting with Dr Paul Wolfowitz, the former World Bank President and former US Deputy Secretary of Defence.

The two met at the Presidential Palace in Nay Pyi Taw on June 14.

The meeting focused on potential investments, establishment of factories and industries that can create huge employment, improvement of small-and-medium enterprises and human resources development.

In his meeting with Wolfowitz, the President said that the new government’s relations with all the countries had improved since taking office over the past two years, regardless of eastern or western countries. Relations between Myanmar and US also had recovered a lot after being broken off for more than 20 years.

The President also said that he felt satisfied with his recent visit to the US which brought about better prospects of cordial relations and cooperation between the two countries. Now was the time for Myanmar to invite foreign investors to review its economy as it was in need of investment and technical assistance. Now was an opportune moment for the foreign investors to do business in Myanmar because of the relaxations on investment restrictions.

Dr Wolfowitz said that he would help with foreign investors who wanted to do business in Myanmar to the most possible degree. His visit was aimed at providing assistance to investment and Myanmar reform process. Nowadays national security played a crucial role in the development of a country. He worked in Indonesia 25 years before. Indonesia was then doing well in politics and economic sectors. He believed that Myanmar’s development would be supportive to other countries in the region as well as to ASEAN.

Also present at the meeting were Union Ministers Soe Thein and Win Shein, Governor of Central Bank of Myanmar Than Nyein, Deputy Minister Thant Kyaw and departmental personnel.

Source: Eleven Weekly Media