MPSIS is Hosted by Supported by UMFCCI, which was instrumental in pushing for removal of protectionist clauses in the new foreign investment law. UMFCCI is keen to work with foreign investors to build up the Myanmar's economy.
Yangon, Myanmar (PRWEB) November 15, 2012
Companies looking for business opportunities in Myanmar and finding partners for their investment in Myanmar can look forward to meeting Myanmar companies who are members of Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, or more widely known as UMFCCI (previously Burma Chamber of Commerce) at the Myanmar Private Sector Investment Summit (MPSIS).
Scheduled on 28-30 January 2013 at the Chatrium Hotel Royal Lake Yangon, MPSIS is organized by Singapore based conference production specialist, the Advantique Group Pte. Ltd. with UMFCCI as the Official Local Host. Myanmar Private Sector Investment Summit (MPSIS) provides essential information about doing business and investing in Myanmar.
UMFCCI is the most influential business federation in Myanmar. They represent: 10,854 Myanmar companies, 1,656 enterprises, 770 foreign companies, 185 co-operatives & 2,898 individual business owners in Myanmar.
UMFCCI was instrumental in pushing for removal of protectionist clauses in the new foreign investment law in Myanmar passed recently on 2 November 2012. They are keen to work with foreign investors to build up the economy in Myanmar.
Said UMFCCI’s joint secretary general, Mr Aye Lwin: “Foreign investors can help to increase the technology know-how and knowledge of SMEs when they invest in Myanmar. Currently some Myanmar companies are not as developed as neighbouring countries and face a myriad of challenges including outdated technology.”
He further commented: “in order to progress, we will need to change our mind set and communicate more openly with foreign investors. Myanmar businesses need to cooperate together and be prepared to work with foreign investors. This is necessary if we want to progress and be as advanced as our ASEAN neighbours.”
Companies wanting to scrutinise the details of the new myanmar investment law can now obtain a copy of the unofficial English translation from Advantique Group at http://www.advantiquegroup.com/translated-myanmar-fdi-law.html. The release of the official English translation by the government is expected in a few months.
Some key highlights of the newly enacted Myanmar foreign investment law:
- As per the old law, foreigners can still own 100 percent of businesses without the need for a local partner. But restrictions apply in some areas.
- The ratio of ownership between joint venture partners can be determined between the partners.
- Myanmar Investment Commission has the discretionary power to allow foreign investors into restricted sectors (such as fisheries and agriculture).
- Foreign investors can lease land from the government or from authorized private owners for up to 50 years, depending on the type and size of the investment, and the deal can be extended twice, for 10 years each time.
- Foreign firms may be entitled to a tax holiday for the first five years of operation and other forms of tax relief may be available depending on the investment, if deemed in the national interest.
Mr Aung Naing Oo, the Director General of the Directorate of Investment and Company Administration (DICA) will be on-hand to present the details of the latest myanmar investment law and clarify finer details of the implementations at MPSIS.
DICA is a division under the Ministry of National Planning and Economic Development and is the usually the first stop for foreign investors who are keen to knock on Myanmar’s doors as DICA’s main responsibility is to scrutinize and appraise projects that are proposed for investment in Myanmar.
Early bird discounted rate of USD1,290 per person is valid for from now until 30 November 2012; the standard rate is USD1,590 per person (processing fee of USD50 per person is applicable). There is a group discount of 5% for 3 or more persons from the same company.
Learn more about the value of attending MPSIS at http://www.advantiquegroup.com/rates-mpsis.html
Included in the registration fee are:
1) Entry to conference and e-documentation
2) One-to-One Business Consult Clinics
3) Half-day Tour of Yangon
4) Myanmar Immersion Program (sharing about Myanmar’s customs and etiquettes).
5) Access to Networking Reception
There is also a personalized Business Matching Session at the end of the conference program on 29 January. At only an additional USD100 per person, registered participants will be paired up with preferred companies for private discussions.
To register for Myanmar Private Sector Investment Summit (MPSIS) or for more details, please visit http://www.advantiquegroup.com/mpsis or contact Ms. Selina Wong at selina(at)advantiquegroup.com,+65 6243 3778.
About Advantique Group Pte Ltd:
Advantique Group Pte Ltd produces high-level international conferences that help businesses generate new ideas, opportunities and connections. We are a spin off from Star Event Management International, a highly creative and dynamic event management company set-up since 2001. Our management team consists of accomplished conference executives with 15 years of experience in producing, marketing and managing premium conferences. At Advantique Group, we go the extra mile to create enriching platforms for you to acquire market insights, meet new contacts and build lasting relationships. Please visit us at http://www.advantiquegroup.com