PRIVATE EQUITY EYES NEW INVESTMENT OPPORTUNITIES IN MYANMAR

Nay Pyi Taw, 15 December

Union Minister for Investment and Foreign Economic Relations, U Thaung Tun today addressed the Ascent Capital Investor Conference 2020 via video link, highlighting the contribution private equity investment can make toward helping Myanmar companies become more efficient, producing strong companies that value and promote innovation while spurring job creation.

The Union Minister underlined that private equity investment can play an important role here by providing strategic growth capital and bringing international best practices, know-how, innovation, and networks.

The Union Minister also highlighted the role of good corporate governance, transparency, and responsible business conduct in attracting reasonable foreign investment, affirming that the Government of Myanmar believes good corporate governance to be fundamental to value creation. He said the new Myanmar Institute of Directors, of which the Ministry of Investment and Foreign Economic Relations is represented as a Board Member, is playing an essential role — advancing board professionalism, promoting business ethics and transparency and creating networks between corporate leaders and stakeholders. As a result investor confidence in Myanmar’s private sector is growing.

The conference was attended by over 170 participants from local and foreign investors.

Ascent Capital Partners, a Singapore fund manager, recently announced the final close of its debut Ascent Myanmar Growth Fund, having attracted a total capital commitment of 88 million US dollars since its establishment two years ago, creating the largest Myanmar-focused private equity fund.