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Singapore Business Federation lead business mission to Myanmar

SINGAPORE — The Singapore Business Federation (SBF) will lead a six-day business mission to Myanmar from Monday (Sept 12), the first since President Htin Kyaw took office in March.

Led by SBF chairman S S Teo, 45 delegates from sectors including property, legal, accountancy, education, publishing, shipping and logistics, construction, civil engineering will visit the cities of Yangon, Naypyidaw and Mandalay.

In Naypyidaw, Myanmar’s capital city, the delegation will attend briefings conducted by key ministries, the Myanmar Investment Commission and various economic development agencies on Myanmar’s economy, investment climate, policies, as well as specific industries.

In Yangon and Mandalay, the delegation will participate in business networking activities with local businesses arranged by SBF and the Union of Myanmar Federation of Chambers of Commerce and Industry.

The delegation will also meet members of the Singapore Association of Myanmar to learn about their experiences and forge business links, and visit the Singapore-Myanmar Vocational Training Institute in Yangon. The institute, officially launched by Prime Minister Lee Hsien Loong in June, aims to produce skilled workers to develop Myanmar’s economy.

Mr Teo said: “The high participation rate of Singapore companies in Myanmar-related events such as this business mission reflects a growing interest in the country. Indeed, our SBF National Business Survey 2015-16 showed that Myanmar is the most popular country for Singapore companies venturing overseas. Through business missions like this, Singapore businesses can see first-hand Myanmar’s business landscape and emerging opportunities.”

Singapore is the second-largest investor in Myanmar after China with US$13 billion (S$17.7 billion) worth of approved foreign direct investment as at April this year, according to data from the Myanmar Directorate of Investment and Company Administration. Bilateral trade increased 9.6 per cent from 2014 to reach S$3.5 billion last year.

 

Source: Today Online

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