Invest in Myanmar - For Investors Seeking Opportunities in Myanmar
Follow:
Invest Myanmar - The Myanmar Investment Gateway
NEWS BY TOPIC
General Information about Myanmar (1)
Business (131)
FDI in Myanmar (45)
Investments (59)
Macroeconomic Data (4)
Infrastructure (4)
Financial (17)
Economy (37)
Construction (1)
Politics (29)
Real Estate (1)
Investment Legislation (3)
Sports (1)
NEWS BY SECTOR
Telecommunications (27)
Law (14)
Infrastructure (20)
Education (2)
Banking (19)
Jewellery (1)
Stock Market (2)
Agriculture (35)
Real Estate (22)
Mining and Exploration (10)
Construction (29)
Energy (47)
Textile and Fashion (10)
Tourism (23)
Information Technology (11)
Food and Beverage (13)
Electronics (3)
Waste Management (1)
Automotive (9)
Logistics (4)
Renewable Energy (0)

Myanmar, HK plan investment promotion deal

MYANMAR, HK PLAN INVESTMENT PROMOTION DEAL
Date: 24/07/2013
Source: Myanmar Times
Myanmar, HK plan investment promotion deal

The governments of Myanmar and Hong Kong have agreed to negotiate a bilateral investment promotion and protection agreement and another on double taxation will follow, the financial secretary of the special administrative region of China said.

John Tsang said the deal “will provide certainty and clarity” to businesses in both jurisdictions and that negotiations “should be fairly straight -forward”.

He made the comments following a luncheon in Yangon for a delegation of officials and executives from Hong Kong on June 27. The luncheon was organised by the Hong Kong Economic and Trade Office in Singapore and the Union of Myanmar Federation of Chambers of Commerce and Industry.

Federation chairman U Win Aung urged Hong Kong manufacturers to “concentrate on businesses that can create better jobs for our people”.

Myanmar’s recent readmission to the European Union’s generalised scheme of preferences creates opportunities for companies seeking duty-free access to that market, he said.

Mr Tsang said there is an upsurge of interest in Myanmar among Hong Kong businesspeople, describing them as “very excited” about opportunities here. “These are extraordinary times for Myanmar’s development,” he said.

Hong Kong-owned factories in China’s industrial heartland, the Pearl River Delta, are shifting to Southeast Asia because of labour shortages and rising prices there. Myanmar will be a beneficiary of this trend, Mr Tsang said.

He also encouraged executives in Myanmar to consider Hong Kong as a platform for accessing mainland China and other markets, saying that companies incorporated in Hong Kong have tariff-free access to mainland China. Hong Kong banks also offer renminbi trade settlement, allowing companies to reduce volatility and currency risk by conducting trade in China’s currency, Mr Tsang said.


Topic: Politics
Did You Know?
Myanmar lies on the crossroads of two of the world's great civilizations – China and India . Its culture is a blend of both interspersed with Myanmar native traits and characteristics. Buddhism has great influence on... ... More

Featured news story
MIC allows more foreign companies to invest in garment sector in Myanmar
MIC allows more foreign companies to invest in garment sector in Myanmar

Featured Video
250 delegates from all over the world attend Myanmar's first banking - Invest Myanmar.biz video
250 delegates from all over the world attend Myanmar's first banking

COUNTRY SNAPSHOT
GDP 2010 USD 45.4 B
GDP 2012 USD 54.0 B
Inflation 9.13 %
Unemployment Approx. 35%
GDP growth 2011 5.5 %
FDI 2011 USD 1.05 B
Today on Invest Myanmar
Member Companies: 82
News Stories: 341
Myanmar Videos: 59
Interesting Facts: 29
Factsheets: 9
 © Copyrighted 2012 Invest Myanmar.biz. All rights reserved.  

 
Please read Conditions of Use, Copyright Statement and Privacy Policy for this web page and web site.



Crafted by Sofia Web Works®, makers of Pahraat Kasinot and Casinobonus på alla svenska online casinon an Invest Bulgaria company