Myanmar to approach a new model economy

Photo: @ FRCSingapore

A new model economy has been discussed in the 6th Myanmar Business Conference organized by Mr. William Tan. He said that it assures Myanmar will be coming up with new method on Business and trade whether from local or foreign investors.

All legal reforms to be implemented guarantees a new way wherein international practices will be observed. All laws on business system will be updated, disclosure on all business transactions and dealings will be required and fair practice on business must be monitored, news report from Press Wire.

The Conference was a success and the speakers who are officials representing various ministries were well applauded and accorded standing ovations by the participants and delegates. The speakers were truthfully stating the participants the actual status of business opportunity in Myanmar recently and providing the consensus of what lies for business and trade for the country in the future with all the series of economic reforms and foreign business laws.

Foreign investors can now have the opportunity to lease land from private land owners or from the government for 50 years and are allowed to extend 10 years twice for a total leasing years of 70.

The opening of telecommunication sectors to foreign investors were also considered thus encouraging international establishments to create joint business and trade with the government to construct infrastructures and provide various services to the country, the report said.

Helpful information and business drawbacks were given special attention for foreign investors to know, evaluate and assess their would-be- business conditions.

They were also asked to give their recommendations and suggestions in order that they may help on how the law can be put to final test.

What is good about the 6th Myanmar Business Conference is that it paved way for well- known Myanmar companies’ participants the opportunity to learn and know the importance of business strategies and technical know-how and to address their capital so as to prepare themselves for the increasing number of interested business investors from all over the world, said news report from Press Wire.