Interview: Cheah Swee Gim With the ASEAN Economic Community (AEC) nearing, how would you assess Myanmar’s legal framework in comparison to other ASEAN members? CHEAH SWEE GIM: Myanmar’s legal framework for foreign investment in terms of principles is more or less comparable to those of other ASEAN member countries. Fundamental features such as safeguarding the investments, investment authority,…
Interview: Chali Sophonpanich What risks do hoteliers face in expanding operations in emerging countries such as Myanmar? How can these risks be managed? CHALI SOPHONPANICH: There are three areas of risk, all of which are well handled by leaders of the country, the first of which is political. Myanmar is becoming more settled, as evidenced by the previous and upcoming elections. I believe that the…
Interview: U Htay Aung What infrastructure development priorities have been identified to facilitate travel in Myanmar? U HTAY AUNG: Infrastructure development is one of the most important fundamentals in building the country. To facilitate travel, the government has invited international investors to develop Hanthawaddy International Airport and upgrade Mandalay International Airport. A third facility,…
Interview:U Si Thu As the launch of the ASEAN Economic Community (AEC) approaches, how will local airline operators be affected by the open skies policy? U SI THU: There are several points to bear in mind regarding the open skies policy. First, as a result of decades of sanctions, most local airlines have not been exposed to international competition until recently. It is important that local…
Interview:U Nyan Tun Aung What factors were considered in the decision to privatise state-owned enterprises such as the Myanmar Port Authority (MPA)? U NYAN TUN AUNG: Even though Myanmar adopted a market-oriented economy in 1988, its economic policy was based on centralised planning, budgeting and state ownership of all means of production and services, including the ports. Prior to the privatisation…
Interview: U Zay Yar Aung How has the global oil and gas community reacted to the opening of Myanmar’s oil fields? U ZAY YAR AUNG: The global oil and gas community, especially companies from the EU and the US, have expressed increased interest in Myanmar’s energy sector since political and economic reforms led to the lifting of international sanctions. In 2011 we began an international bidding…
Interview: U Zeya Thura Mon What can be done to ensure Myanmar’s power supply can meet the growing demand? U ZEYA THURA MON: There are a lot of things that need to be done in terms of infrastructure development. In terms of power, there is room for more generation than we have at the moment, from the current 4362 MW up to 23,600 MW, with 30% achieved within the next 15 years. This represents a…
Interview: U Thein Oo Which industries do you think will take the most advantage of progress in ICT? U THEIN OO: Ongoing developments within the IT sector coupled with an expanding telecoms network will promote development across many sectors. The financial services industry, particularly banking, is one of the sectors where we can already see the benefits of ICT in the form of ATMs, e-banking and…
Interview: Stephen Suen How does Myanmar’s property development segment compare with other ASEAN members? What makes it a worthwhile investment destination? STEPHEN SUEN: During the initial stages of the opening of their markets, some emerging economies were not ready for globalisation and modernisation. Myanmar is slightly different. There are a lot of reasons – including the fact that there…
Interview: Dr Khin Shwe What steps can be taken to ensure that the quality of construction meets international standards? DR KHIN SHWE: Both foreign and domestic construction firms have a role to play in developing infrastructure, which has lagged behind the rest of the world for many decades. In the context of the Foreign Investment Law, steps need to be taken to introduce a joint venture or a build-operate-transfer…
