“Myanmar is about to enter three golden years as it begins to take its place once more on the world stage after decades of isolation”, said Thailand’s ambassador Pisanu Suvanajata, who also urges  “Thai investors should seize the opportunity to invest in Myanmar within the next three years before the Asean Economic Community is formed in 2015."

For the first time, Myanmar will open its new capital to the world, as it hosts the SEA Games next year in Nay Pyi Daw and numerous high-level ministerial/leaders’ meetings throughout 2014, as the chair of the Association of South East Asian Nations.

In the past year or so Myanmar has become the darling of Asia, now that sanctions imposed by major western powers are winding down. Investments are pouring into the country, and a lot more projects waiting in the wings.

Rising income levels and investments have all spurred the economic growth of the natural resource-rich country. The Thai ambassador urged Thai businessmen to seek good opportunities in Myanmar and to speed up their activities before other foreign investors arrive, which would mean more competition. He added that large Thai companies like industrial estate developers were keen to invest, but he wanted more small and medium-sized industries to also look at Myanmar. Infrastructure such as roads, airports and power are among the areas the country needs to invest in, as well as other priority sectors including healthcare, power generation and supply, and education.

Further updates on the investment sentiment and the opportunities in Myanmar are to be discussed at the 2^nd New Myanmar Investment Summit in Yangon. The conference on 17-18 October 2012 offers insight on new laws on investments, land acquisitions, JVs, identifying and structuring right business models and other key subjects. Top officials from Directorate of Investment and Company Administration (DICA), Ministry of National Planning and Economic Development, andCentral Bank of Myanmar, Ministry of Finance and Revenueare speaking at the summit. Click here to sign up and attend the conference. Or forward any queries to Ms. Hafizah at hafizah@cmtsp.com.sg

Excerpt from Bangkokpost.com 

On 07 September 2012, Myanmar’s parliament passed a much anticipated foreign direct investment law that is vital for government’s expansion plans. The new law to be signed by President Thein Sein is considered a major step forward. Several provisions that would deter foreign investments were dropped. One of which is such a requirement of $5 million minimum initial investment outlay. The new version permits foreign parties to hold 50% stake in joint ventures.

A barrier to foreign investments was lifted with the easing of sanctions by the Western nations. Investors were also further encouraged with the reforms to the financial system, particularly the abandoning of an onerous dual exchange rate system.

Yet another progressive aspect of the new law is that instead of 35 years land leasing to foreign investors in the old rules, it is now extended to an initial period of 50 years with an option to renew.

Myint Soe, Chairman of the Myanmar Garment Association and an executive member of the Myanmar Chamber of Commerce and Industry said that permitting 50% foreign equity in joint ventures was conducive to attract foreign investors who might be wary if the law favoured protection for local entrepreneurs too much. “What Myanmar needs is a law that will attract new investment rather than restrict it. I welcome the fact that the amended law has dropped the regulation that requires $5 million startup initial capital.”

The 2^nd New Myanmar Investment Summit to be held in Yangon on 16-18 October 2012 will offer vital details of the various developments in Myanmar. The summit features an official session on “Investment Opportunities and Private Sector Development” by U Aung Naing Oo, Director General, Directorate of Investment and Company Administration (DICA), Ministry of National Planning and Economic Development. Furthermore, Ms. Cheah Swee Gim, Director and Foreign Consulting Attorney, from Kelvin Chia Yangon Ltd will speak on “New Foreign Investment Law – Implementation Guidelines”.

Register here to attend this summit, or contact Ms. Hafizah at hafizah@cmtsp.com.sg for further queries.

Source: Abcnews.go.com

Myanmar will see a $380 million investment by Daiwa Securities Group, in partnership with major Japanese tech companies. Daiwa aims to build the IT backbone for the government. This shows Japan’s ambition to hold a competitive position in Myanmar’s infrastructure development. Takashi Fukai, a President of Daiwa Institute of Research, said in a Reuter’s interview that Panasonic Corp., Toshiba Corp., Hitachi Ltd., NEC Corp., and KDDI have indicated interest in joining the project and providing technology and services. He said, “We’re going into Myanmar in a way that is all-Japan.” The ‘cloud’-based computing system is expected to cost about 30 billion yen ($384 million).

A Daiwa executive said that Daiwa has already been chosen to help set up a local stock exchange, and has been selected by the central bank to draw up plans for the computer network, and is seeking Japanese government aid to offset the cost.

Daiwa and the Tokyo Stock Exchange are also partners in a project to develop a new stock exchange for Myanmar. According to Fukai, a stock exchange would help draw foreign investment to Myanmar and could be up and running by 2015. More than 20 Myanmar Companies, ranging from gas company to agriculture enterprise, were approached by Daiwa to list on the exchange. Fukai estimated a turnover of 1 billion yen if 300 firms were publically traded by 2020.  Around 2 billion yen is the estimate of revamping the Myanmar securities exchange, in which Daiwa is a joint venture partner.

Funded by the Japan International Cooperation Agency, Fujitsu and NTT Data have also started a study on Myanmar’s intrabank settlement system.

More in-depth and first-hand details on the New Foreign Investment Law, its implementation guidelines, updates on manufacturing, agents & distributors, telecommunications, oil & gas, infrastructure and investment opportunities in Myanmar will be unveiled at the 2^nd New Myanmar Investment Summit, from 16-18 October 2012, in Yangon. Although conference agenda is not finalised yet, Pre-Registration is now underway for those interested in attending. In the meantime, one may forward enquiries to Ms. Hafizah at hafizah@cmtsp.com.sg

Read complete article at Reuters.com

At the New Myanmar Investment Summit 2012 held in Yangon in June, over 300 delegates heard first-hand and interacted Myanmar's Ministry of Industry, Ministry of Energy and Ministry of Mines officials as well as, many experts from the private sector sharing at the 2 day summit.

A key highlight was the Official Opening Speech by His Excellency Dr. Kan Zaw, Deputy Minister, Ministry of National Planning and Economic Development. In his talk, he shared his views on the prospective areas of investment in Myanmar, reviewed the economic situation of the nations, and encouraged the exploration and strengthening of joint businesses and partnerships. Themed "Business Strategies and Successful JVs", the June summit in Yangon was such a resounding success that 2nd New Myanmar Investment Summit is being planned to be held in Yangon from 16-18 October.

For that purpose, a quick industry survey inviting suggestions on issues to include in the upcoming event to ensure comprehensive coverage of topics that matters is now underway. All are welcome to take part - to start simply click icon below.

Further, for a glimpse of what was shared and what to expect at the second edition in October, CMT is making the Official Opening Speeches from the 1st summit in June as well as recently concluded Myanmar Mining Summit in July available as complimentary download. Just fill up the form below to obtain a copy.

Above is just one of the many insightful papers delivered at the 1st New Myanmar Investment Summit 2012. The full complete set is also available for purchase at USD595 a set. Click here to submit your order today.

For now, enquiries on download, and registrations for 2nd New Myanmar Investment Summit, can be directed to Ms. Hafizah at hafizah@cmtsp.com.sg