Thumping with economic exuberance and sprightly spontaneity, riding high on expansion and development plans, attracting many foreign companies – Myanmar has arrived with the promise of new beginnings and the zest for a global embrace.
Recently, a multilateral partnership meeting was held at the Melia Hotel wherein Spain came forth to seek opportunities in the fertile lands of Myanmar, while extending forth its intention in facilitating Myanmar in its development plans.The event was attended by highprofiled individuals and involved the participation of official ministries such as the Ministry of Electricity and Energy, Ministry of Finance, Yangon City Development Council, Spanish Embassy, and local and Spanish business groups.
The event was attended by high-profile individuals and involved the participation of official ministries such as the Ministry of Electricity and Energy, Ministry of Finance, Yangon City Development Council, Spanish Embassy, and local and Spanish business groups.
The event underscored Spain’s belief in building the beautiful land of pagodas by alleviating poverty in Myanmar and subsequently enabling and enhancing job opportunities.
Mr. Garzon, CEO, ICEX, Spain Trade and Investment pitched in for Spain being a beneficial multilateral partner for Myanmar, with the view, “Spanish companies can be excellent partners and they are eager to join forces with the Myanmar Government. We believe we’ll be crucial for the country’s further development, and Spanish companies are particularly proficient.”
With Myanmar allowing foreign investments after decades of seclusion, various Spanish ventures are interested in investing in the infrastructure sector of Myanmar.
The World Bank and Asian Development Bank exhibited their funding plans, laying central focus to the infrastructure sector and sovereign lending. Mr. Hideaki Iwasaki of the Asian Development Bank Regional Office pointed out that their infrastructure operations are part of the two principal projects in the current year–Highway Modernization and the Third GMS Corridor Town Development Project.
Despite being bestowed with passable resources and natural riches, the investment canvas does suffer from bottlenecks such as unskilled professionals and inefficient organizational structures which hinders the investor’s confidence and impacts the investment climate.
The Directorate of Investment, Ministry of Finance (DICA), Mr. Marlar Myo Myint, while presenting the new investment laws, remarked,“ The government is welcoming business partners who are focusing on promoting sectors such as infrastructure, agriculture, education, healthcare, technology and tourism.”
The event was imbued with active networking, discussions, business to business interactions spanning through funding, energy and transport infrastructure.