2. Myanmar is now becoming one of the world’s most sought-after countries, ready to open up and woo foreign investors. A new investment law touted by Myanmar officials as the most attractive in the region has just been passed by Parliament. It will include an eight-year tax exemption if projects are profitable for the country. Efforts are also underway to shore up its banking infrastructure and boost international business confidence in the kyat.
3. On average, Myanmar’s gross domestic product expanded by 7.7% from 2001-10. An IMF study projected Myanmar’s real GDP growth for 2011-12 at 5% and for 2012-13 at 6%.
4. The Government has accorded high priority status to infrastructure development projects – such as roads, railways, bridges, ports facilities, airports, electric power, irrigation networks, communication systems, private schools construction, private hospitals, etc. There is an increasing trend of private sector participation in these projects which is expected to escalate. Private Public Partnership (PPP) and BOI projects are gaining momentum.
5. Top officials representing the Ministry of National Development & Economic Planning /
Myanmar Investment Commission, Ministry of Electric Power, Department of Civil Aviation, Myanma Port Authority, Ministry of Mining, Ministry of Health, Central Bank, amongst others will be participating at the Summit.
6. Other speakers include Senior experts from the IMF, the World Bank, MIGA, ADB, IFC as well as private investors.
7. Ms Maggie Tan, the CEO of the conference organizing company, Magenta Global Singapore, said: “Myanmar is the last frontier of opportunity in South East Asia. Efforts are underway to create a favorable investment climate for investors. The high priority towards infrastructural development projects present vast opportunities that businesses should seize.” She urged all investors, developers, contractors, engineering consulting companies and construction materials suppliers to be part of this Summit which will serve to foster collaboration and business matching for companies in the Asia Pacific region in particular”.
8. The event will be held at the Sedona Hotel in Yangon, Myanmar.