INVESTMENT MUST OCCUR ACROSS ALL REGIONS: CHIEF MINISTER

Economic development across Myanmar would only be achieved if investment occurred throughout the country, Daw Nan Khin Htwe Myint, the Chief Minister of Kayin State, said today.

Welcoming delegates to the Kayin State Investment Fair being held in Hpa An, Daw Nan Htwe Myint, said Kayin State has an abundance of natural resources and she encouraged local and foreign investors not to miss the “win-win” opportunities that existed in the State.

Daw Nan Khin Htwe Myint added that “it is well known by the public that the Union Government has been undergoing legal and policy changes to promote economic development and has also made invitations to encourage inflow of foreign investments along with relaxing restrictions that hinder investments.”

“However, aside from Yangon and Mandalay regions, other States and regions have seen limited investment projects with about 95% of all investment flowing into the two commercial regions of Yangon and Mandalay. In some States there are no foreign investments at all,” she said.

“Only if the investments disperse to all regions rather than be concentrated in specific regions, can overall economic development be achieved.”

Daw Nan Khin Htwe Myint said many places in Kayin State were now accessible following infrastructure improvements and peace agreements that were in place. Foreign investors would also benefit from taxation incentives in the least developed regions and draft intellectual property rights laws, which have been sought by investors, “have also been submitted to Parliament for approval.

She said the Kayin State Government welcomed local and foreign investors alike and would cooperate with them to facilitate investments.

The Fair is being co-hosted by the Kayin State Government, Myanmar Investment Commission and Japan International Cooperation Agency. It is the third in a series of investment fairs being held throughout Myanmar and follows similar events in Mandalay and Shan State.

24th November 2017