9 May 2018
The Yangon Investment Forum 2018 held on Wednesday with the theme "Yangon Region: Investment Hub in Myanmar". The aim is to provide investment opportunities in Yangon Region, to give an opportunity, to clarify question directly with the stakeholders and to facilitate investment through transparent, clear and expeditious procedures.
The theme of the Forum is “Yangon Region: Investment Hub in Myanmar” which reflects the significance of Yangon Region in terms of investment opportunities for investors, both domestic and foreign.
Chief Minister, Yangon Region Government, Phyo Min Thein said "The forum is set to be held in two sessions – new investment application procedure and investment opportunities in the Yangon Region. Yangon is a city of booming consumer market with the most investments in Myanmar. We expect Yangon Region to be the investment hub of Myanmar."
Yangon Region is currently home to 7 million people. With 53 percent of total industrial estates in Myanmar, it is expected to grow to population of 10 million by the year 2030. Moreover, the total of 2,233 total registered businesses in Myanmar – 64 percent are in Yangon.
Director General, Directorate of Investment and Company Administration, Aung Naing Oo said "The Yangon Region Government took the lead and DICA, GIZ and MIDA provided supports for the successful launch of this forum. Yangon Region has strengths in various sectors. Currently, we are working on investor promotion on 3 main sectors - industry, infrastructure and housing."
Chairman, Myanmar Investment Commission, Kyaw Win said "Yangon Region is the economic epicenter of Myanmar. I would like to assure that there is no different investment law for the foreign and local investors in Myanmar."
This forum also provide with necessary information for the investors. It also sets the fundamental implementation plan required for the country's development.
Chairman, Myanmar Investors Development Association, Khin Maung Aye said "We hope for more investments not only in Yangon but across the whole country. Most investors are interested in infrastructure sector of the country. At this forum, I found out that a lot of investors are interested in agriculture sector, especially the investors from India and China; the countries with big population. Most foreign investors have concerns on their security and investment law and today’s forum clear everything out."
Since the first meeting of YRIC in August 2017 until the end of April, it has approved 49 investment endorsements – 40 foreign enterprises and 9 Myanmar enterprises that are expected to create more than 22,000 jobs for the people of Yangon.