Myanmar encourages foreign investment
Myanmar’s government has made a strong pitch to foreign investors to commit to its ports at the 15th ASEAN Ports and Shipping conference.
“Please come and co-operate, co-ordinate and collaborate,” Dr Myo Nyein Aye, deputy general manager of Myanmar Port Authority, told the conference.
Myanmar’s case rests on its enviable location: it’s the last undeveloped country in South East Asia and also benefits from close proximity to the Pacific Century markets of India and China.
“We are the Western flank of that (South East Asia) region, especially of the Greater Mekong Subregion (GMS) area,” Dr Myo said.
Dr Myo pointed out some 93% of the terminals in the country are run by private-public partnerships, demonstrating the openness of Myanmar to foreign investors.
This was corroborated by Jo Daniels, from international lawyer Baker McKenzie. PPPs were “specifically in the law itself”, she said, adding there were few restrictions on what port businesses foreign companies could undertake.
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