19 Feb 2015
The wide-ranging investment opportunities emerging in Myanmar, against a backdrop of ambitious reforms and strong economic growth, were highlighted at a business summit held recently in London.
Titled ‘Promoting economic reform in Myanmar – Why responsible British business is good for Myanmar’, the conference was attended by over 100 representatives from both the private and public sectors.
The summit, which took place on 19th February, was organised by City & Financial, UK ABC, United Kingdom Trade and Investments (UKTI) and the British Chamber of Commerce in Myanmar. Speakers included the UK Parliamentary Under-Secretary of State for Business, Innovation and Skills and Minister for Intellectual Property, Baroness Lucy Neville-Rolfe; the Deputy Governor of the Central Bank of Myanmar and Chairman of Thilawa Special Economic Zone, Winston Set Aung and the Director of UKTI Rangoon, Lisa Weedon.
Representatives from Oxford Business Group (OBG) also participated in the event. The Report: Myanmar 2015 – OBG’s second investment guide to the country – was used as a source of reference during the summit to highlight the changes taking place across the economy and plot its fascinating growth story.
OBG’s Managing Editor for Asia, Paulius Kuncinas, agreed that with the UK, France and Germany each accounting for at most 2% of Myanmar’s capital inflows, events that highlighted the country’s changing economic landscape to European businesses and signposted them to information sources were welcome.
“Myanmar’s tempo of development has inevitably produced challenges, while the approaching Presidential elections, together with looming ASEAN integration, will bring added uncertainty,” he said. “However, the country’s economy is expected to grow by at least 7% until 2020. This forecast provides us with a reminder that what was once a forgotten market is fast reinventing itself as a magnet for global investors.”
An essential read at the conference, The Report: Myanmar 2015 marks the culmination of more than ten months of field research by a team of analysts from OBG. The publication assesses trends and developments across the economy, including macroeconomics, infrastructure, banking and other sectoral developments.