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Vice President Encourages Overseas Investment Based on Reliable Information



When local businessmen are planning to make investments in foreign countries, U Myint Swe, Vice President of Myanmar, is urging them to contact Myanmar’s Minister Counsellor for Economic Affairs, so that they can obtain information on the economic environment of those countries.

“Local businessmen need to look at the market in other countries, in addition to the local market,”he said during a June 29 meeting with local businessmen held at the Union of Myanmar’s Federation of Chambers of Commerce & Industry (UMFCCI). “I also want to encourage local investors to make investments in other countries, in the same way that foreign investors make investments in our country.”

The Vice President cited the country of Vietnam as an example. Vietnam achieved success in recovering from war, and has even made investments in Myanmar, including some of a nature no one else has ever made. Furthermore, Vietnam is participating in expos held here at least twice every year.

The Vice President added that it is time for Myanmar to work harder at this. He said that Myanmar has appointed ten Minister Counsellors for Economic Affairs in nine countries. Local businessmen can acquire information from these ministers regarding the market and products of those countries. The Ministry of Commerce will also help liaise with them.

Myamar has appointed two Minister Counsellors for economic affairs in China, and one each for Singapore, Thailand, Hong Kong, Korea, India, Japan, the United States, and Belgium.

These ministers are responsible for providing information on trade, products, and markets in those countries, as well as for connecting businessmen of Myanmar with businessmen from those countries.

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