Yangon, Myanmar (PRWEB) September 06, 2012
Investors keeping a close watch on the announcement of the new Myanmar investment law can look forward to meeting U Aung Naing Oo, the Director General of the Directorate of Investment and Company Administration (DICA) at the the Myanmar Private Sector Investment Summit on 1 -2 November 2012 in Yangon. U Aung Naing Oo is the keynote speaker and will give a presentation on the highly anticipated Myanmar foreign investment law. Myanmar’s 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.
In conjunction with the Myanmar Private Sector Investment Summit (MPSIS), Advantique Group is conducting the Myanmar Investment Survey to gauge business interests in Myanmar. Survey respondents are rewarded with a USD50 discount for MPSIS registration if they complete the survey before 15 September 2012. To participate in the Myanmar Investment Survey, please go to http://www.advantiquegroup.com/myanmar-investment-survey.
The new government under the leadership of President Thein Sein promised ease of entry and favourable terms for foreign companies keen on investing and doing business in Myanmar. However, many are disappointed with the draft foreign investment law passed by Myanmar’s Lower House which made 94 amendments designed to protect local businesses. Among the amendments are a US$5 million minimum requirement on foreign investments in Myanmar, and a 49 per cent maximum foreign equity in joint ventures. The draft bill is now in the hands of the Upper House before its fate is sealed.
The leading voice for private sectors in Myanmar – the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) urged members of the parliament to reduce the restrictions on international companies. According to UMFCCI’s chairman, U Win Aung, over 90 percent of local businesses are small and medium entrepreneurs, so they would like the new FDI law to promote these businesses.
The Myanmar Garment Manufacturers Association also calls for a relaxed FDI restrictions, its chairman U Soe Myint said the the local businesses will benefit from the advanced technology and big capital that foreign businesses offer. He said that the garment sector would even welcome 100 per cent foreign investment as they need new markets and technology. He sees foreign investment as one of the key solutions to expand the manufacturing sector in Myanmar.
Organised by Singapore based conference production specialist, Advantique Group Pte. Ltd., the Myanmar Private Sector Investment Summit (MPSIS) highlights the importance of the private sector, be it investment by conglomerates or contributions by small and medium enterprises (SME) to build up the economy of Myanmar. Among the key private sector led sectors in focus include: Manufacturing, Retail, Trading, Agriculture, Fisheries, Hotel & Tourism, Construction & Real Estate, Forestry & Timber, Information and Communications Technology (ICT).
The conference agenda of the Myanmar Private Sector Investment Summit (MPSIS) is designed to provide essential information about investing and doing business in Myanmar. From trade policies to Myanmar taxation laws; from how to set up company in Myanmar to Myanmar import/export and employment law; from repatriating profit to foreign exchange and banking reforms, MPSIS aims to provide guidance and clarity in the uncharted waters of the Myanmar market.
Other senior government officials from the ministry of agriculture, ministry of commerce, and the ministry of finance and revenue are scheduled to brief foreign business owners on opportunities, policies and incentives in Myanmar. Established private Myanmar companies are also among the authoritative speaker panel of MPSIS.
Early bird discounted rate of USD1,290 per person is valid for registration made before 15 September 2012; whereas the standard rate is USD1,590 per person. The USD50 discount for respondents of the Myanmar Investment Survey is valid in addition to the early bird discount.
For more information, please visit http://www.advantiquegroup.com/mpsis or contact Ms. Selina Wong at selina(at)advantiquegroup.com or +65 6243 3778.
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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.