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Economic Issues: Entrepreneurs Meet With US-ASEAN Business Council

7 December 2017

Myanmar entrepreneurs met with the US-ASEAN Business Council, discussing better business cooperation. The meeting in Yangon on Wednesday was jointly hosted by UMFCCI.

The meeting focused on sharing best practices to Myanmar entrepreneurs as well as addressing some of the challenges.

Electricity, affordable healthcare services and infrastructure issues were addressed as the major challenges. The meeting also included business matching sessions between Myanmar and US, targeting at several sectors like productivity, electricity, IT, vehicles and many others.

A total of 15 US companies including Microsoft, Ford and Chevrolet showed their interest in Myanmar’s market.

Chief Country Representative, GE Global Growth Organization, Andrew Lee said "Really we want to hear more about the local chambers telling us. More importantly is how can we help local chambers by sharing some of our best practices. At the same time also addressing some of the current challenges for example electricity... So many challenges currently but giving aware Myanmar is we are very helpful to help development the partner of the country."

More job creations for local people as well as better business opportunities are the major expectations for Myanmar, UMFCCI said, adding economic development is one of the most important issues for the country.

E.C member, UMFCCI, Kyaw Myint Oo said “This meeting is to help our local entrepreneurs get more opportunities and create more job opportunities. Currently, what we need is economic development. We hope to work not only with the United States but also other countries for our country’s economic development.”

The United States is the 13th largest foreign investor in Myanmar with 376 million USD till the end of October this year, according to DICA.