Jun 4, 2015

Myanmar hunts EU investment.

Myanmar and EU countries are discussing the signing of an agreement on promotion and protection of investment, according to the Directorate of Investment and Company Administration (DICA).

A ceremony was held at the DICA office in Yangon attended by the Myanmar-EU Investment Coordination Team and DICA’s director general, EU ambassador to Myanmar Roland Kobia and a leader of the coordination team, Carlo Pettinato.

It is hoped an agreement will allow an influx of EU investment.

China is by far the largest investor in Myanmar with very little currently coming from the EU.

Until the end of April this fiscal year, foreign investment exceeded US$56 billion, with oil and natural gas the main targets followed by the energy sector, according to the DICA.

The Myanmar Investment Commission is promoting long-term investment with it expecting US$6 billion this fiscal year.

Source: Eleven Weekly Media