Economy, Investment and Trade
Australian encourages firms to invest in Myanmar
(15 May 2017) The Australian government would encourages businesses to seize opportunities in Myanmar. Australian firms’ interest in Myanmar has been on the rise, due the improving political climate and stronger bilateral ties. At the end of the first quarter of 2017, 18 Australian firms had been approved by the Myanmar Investment Commission to bring in a combined capital of US$145.8 million. Despite the fact that rents are relatively high and the power supply is not always very reliable, Australian trade and investment has been increasing around 15 per cent on a yearly basis. Oil and gas, mining, tourism and education are the most attractive sectors for Australian investment.
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Myanmar looks to Vietnamese businesses to invest in the country
(15 May 2017) Speaker of Myanmar’s Parliament and House of Nationalities Mahn Win Khaing Than told Vietnamese Prime Minister Nguyen Xuan Phuc that Myanmar is working to improve its investment environment to attract more foreign investors. While the Mahn Win Khaing Than said that Myanmar had granted many Vietnamese businesses licenses PM Nguyen Xuan Phuc noted that Vietnamese businesspeople are keen on investing in Myanmar. He also suggested the two sides step up high-level visits, implement cooperation mechanisms and convene a meeting of the Vietnam-Myanmar Joint Committee and the political consultation and to step up efforts in negotiations and the signing of agreements to cooperate in agro-forestry-fishery, culture, transport, finance, justice and education.
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Foreign and Internal Affairs
China reiterates offer to aid peace process in Myanmar
(16 May 2017) Chinese President Xi Jinping told Myanmar’s Aung San Suu Kyi that China would continue to help the country achieve peace, and called for both sides to maintain stability on their shared border. However, it was unclear in what form of the assistance China may provide. China has repeatedly expressed concern about fighting along the border that has occasionally spilled into its territory, for instance in 2015, when five people died in China. Xi and Suu Kyi met following China’s Belt and Road Forum on Sunday and Monday.
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