(25 June, Magway)
The Magway Region Domestic Investments Promotion Seminar 2024 was held at Magway City Hall in Magway this morning. In the opening session, Dr. Kan Zaw, Union Minister for Ministry of Investment and Foreign Economic Relations and U Tint Lwin, Chief Minister of Mgway Region Government attended and delivered speeches.
This event aims to explore the investment opportunities in Magway Region, to get the awareness of investment laws, rules and procedures, as well as the incentives under Myanmar Investment Law and to facilitate and coordinate challenges by the entrepreneurs.
First of all, the Union Minister gave an opening remarks that the Magway region is a central region of Myanmar, the reason of this event is to enhance the capacity of regional and local business owners to carry out businesses, to meet its requirements in order to encourage domestic investment, including MSME enterprises in the Magway Region, which can present great opportunities for regional economic development. Union Minister highlighted that the current businesses can operate more firmly and urged all the make efforts to improve the production of local commodities and the development of the region’s economy.
The Chief Minister of the Magway Region Government also delivered a speech that the Magway Region is known as Myanmar's "oil pot" and the government is supporting the development of the oil industry, and also striving to strengthen livestock sector, to support MSME businesses, and increase value-added production. The region also has opportunities for solar power generation and numerous attractive locations for hotels and tourism sector. The Chief Minister encourages need to focus on discussing the necessary steps for investment development in these sectors and finding solutions for the socio-economic development of the region.
Then, the Union Minister for Investment and Foreign Economic Relations, the Chief Minister of the Magway Region Government, and the officials visited booths displaying the local products of the Magway region.
According to the programme, the relevant officials give the presentation on “Investment Opportunities in Magway Region” with a power point presentation that highlights the prospects of solar power generation, oil and gas, hotels and tourism, industry, agriculture, livestock, and fisheries. The program also included a panel discussion to promote the production of oil crops and cotton farming, solar power generation, and the hotel and tourism sectors that can be developed rapidly in Magway Region. Experts from relevant sectors participated in the discussion and answer questions from the attendees.
At the Seminar, Dr. Kan Zaw, Union Minister for Investment and Foreign Economic Relations, and U Tint Lwin, Chief Minister of Magway Region Government, Regional Ministers and officials from Magway Region, representatives from the Magway Region Chamber of Commerce and Industry, and associations and businessmen about 280 attendees were attended.
