Foreign direct investment in Myanmar’s manufacturing, transport and communication sectors has grown rapidly over the past five years, thanks to its government policy reforms. Introducing recent developments in Myanmar, Mr Albert Oung explained that favorable investment policies, strategic infrastructure, along with improved transport and communications networks had created a sustainable investment climate for foreign investors.
Mr Oung, the Founding Chairman of Hong Kong Myanmar Chamber of Commerce, delivered a talk to CityU’s DBA and EMBA students at Academic 3 on 2nd February. In the forum themed A Practical Approach of Doing Business in Myanmar, he shared his views on political, economic, and public and private business environments in Myanmar. He also discussed the government’s latest policy reforms in the area of foreign investments.
Building on his commercial and industrial expertise in Hong Kong, China, and Myanmar, as an environmentalist and conservationist Mr Oung is keen to introduce sustainable practice into business models. Through campaigns and charity events, he aims to arouse awareness of the compatibility of social, economic, and environmental facets of business practice.
Myanmar is an emerging economy with recent major policy reforms in anti-corruption, foreign investment legislation and taxation. Foreign investment has increased dramatically in recent years. Historically, Myanmar was on the main trade route between India and China and was once a major exporter of rice and teak. Current major infrastructure developments include the Dawei deep seaport, which is expected to position Myanmar as a trade hub connecting Southeast Asia and the South China Sea. Myanmar’s economy is also expected to experience further development with potential for growth in high-tech industries.