Golden Opportunities in the Golden Land Myanmar Union of Myanmar Federation of Chambers of Commerce and Industry 29, Min Ye KyawSwar Road, Lanmadaw Township, Yangon Tel : 95-1-214344-9, Fax : 95-1-214484 Myanmar Business Network www.myanmar-business.org Tokyo, Japan Tel: +818031916197 firstname.lastname@example.org
Background Myanmar is the largest country on mainland South-East Asia with a total land area of 676,577 sq.km Total coastline is 2,832 km.
RELIGIONS The people in Myanmar enjoys religious tolerance and has full freedom of worship for followers of different religions Buddhism 89.9% Christians 5.6% Islam 3.8% Hinduism 0.5% Traditional animistic beliefs 0.2%
ECONOMIC HISTORY OF MYANMAR Market Economic System 1948 to 1962 The development of private sector In Myanmar Socialist Economic Market-Oriented System Economic System 1962 to 1988 1988 to date
Trade Patterns and Trends Myanmar's foreign trade is mainly with Asian countries. More than 70% of total export goes to the Asian region and about 90% of total import comes from this region. Myanmar foreign trade is mainly with China, Singapore, Japan, Thailand, Malaysia and India, who are its main trading partners. Myanmar attaches great importance for further developing and strengthening trade with Asian countries. Like most developing countries, Myanmar is still an exporter of agricultural and other primary products. The country's imports consist largely of manufactured goods, particularly capital goods. Myanmar is an original signatory of GATT and a member of the WTO.
Export Structure of Myanmar Myanmar gives top priority for the development of agriculture . Increasing and diversifying exports, and improving the quality of exports products, are among the main objectives of the export promotion policy. Major export items are agricultural products including rice and rice products, pulses, maize, raw rubber, marine products, timber, base metal and ores, precious and semi-precious minerals.
Import Structure of Myanmar The import policy of Myanmar is to give priority to capital goods, industrial raw materials and spare parts and other essential items The government has urged the public and private entrepreneurs to import commodities that will contribute to infra-structural development and production sectors.
Myanmar’s Border Trade The policy of the Government is to further develop and strengthen the bilateral trade relations with the five neighbouring countries, Bangladesh, China, Laos, India and Thailand using border trade as a mechanism for trade expansion It is evident that border trade plays an important part in a country’s economy through contribution to the national GDP. It provides employment to the lesser developed cities and towns and thus improves the quality of life in these regions. Geographically, Myanmar is a gateway to the east, north, and west and can be a central hub for exchange of goods, services and technology. Increased border trade not only contributes on a bilateral level but also brings together regional economic blocks such as ASEAN, ACMECS, BIMSTEC and GMS- BF.
Foreign Investment in Myanmar The Union of Myanmar Foreign Investment Law was promulgated in November 1988. The leading sectors are oil and gas, manufacturing, hotel and tourism, real estate and mining sectors. The leading investors are Thailand, United Kingdom, Singapore, Malaysia and the Hong Kong.
US$ 500,000 Manufacturing Srevices US$ 300,000 Form of Organization Foreign investor can set up their business either in the form of: 100% wholly foreign-owned (100% foreign) Joint Venture (an individual, a private company, a cooperative or a state-owned enterprise) In all joint venture, the minimum share of the foreign party is 35% of the total equity capital.
Guarantees The FIL provides an irrevocable state guarantee that an enterprise permitted by MIC under the FIL shall not be nationalized during the permitted period or the extended period ( if any ). It also provider repatriation of profit (after all deduction of all the taxes and the prescribed funds) as well as legitimate balance of salary and lawful income of foreign personnel (after payment of living expenses and taxes). In the case of termination or dissolution of the business, repatriation of foreign capital can also be allowed.
Foreign Investment in Myanmar by sector ( 31/10/2009)
Foreign Investment by Country of Origin (as of 31/10/2009)
Foreign Investment by Country of Origin (Cont:)
Foreign Investment by Country of Origin (Cont:)
Investment Leads......... Myanmar has abundant natural resources and there are lots of opportunities in the agriculture sector and trading can be done in rice, pulses and beans, maize, sesamum, rubber, coffee, tea, sugarcane, jute, fruits, veggies etc. Another sector is livestock and fisheries as Myanmar is endowed with rich and varied marine and inland fishery resources Myanmar has a long coastline which provides a very good base for the development of shrimp and prawn culture.
Investment Leads......... Another potential is the forestry sector. Myanmar is indeed very rich in forest resources and Myanmar teak is highly reputable in the world market and enjoys the largest share of the world teak trade. Another sector is the mining sector and Myanmar ranks high among the Asian countries in terms of mineral potential. Myanmar gems-rubies and jade are highly popular in the world. Reverting to energy, oil and gas exploration under the energy sector is the highest in the foreign investment in Myanmar
Investment Leads......... Another booming sector is the tourism sector. Myanmar is a cultural destination with its rich cultural heritage and is also blessed with natural environment like snow-capped mountains, beautiful lakes, long rivers, lush tropical forests, unspoilt beaches and archipelagos.
Investment Leads......... Myanmar is a new and emerging tourist destination in SE Asia. There are over 100 national races with their colourful costumes and customs, traditional arts and crafts all make up Myanmar the most exotic and fascinating destination in Asia. You will find Myanmar a beautiful and peaceful place with the most hospitable people in the world.
East-West Economic Corridor Develop a highly efficient transport system which allows goods and people to move around the GMS region Strengthen economic cooperation between Myanmar, Thailand, Laos and Vietnam . Only direct continuous land route between the Indian Ocean and the South China Sea.
Conclusion With the huge land mass, abundant natural , human resources, large local market and the various regional linkages, Myanmar stands ready to take an important place in the economic development of South East Asia in particular and Asia in general.
Thank You. Myanmar Business Network www.myanmar-business.org Tokyo, Japan Tel: +818031916197 email@example.com