Myanmar has signed investment promotion and protection deals with twelve countries since 2014, including Thailand

From 1998 to 2014 Myanmar has signed investment promotion and protection deals with twelve countries, since then there have not been any other signed deals, according to the press conference of Directorate of Investment and Company Administration (DICA) held on January 19.

“Myanmar is planning to sign deals with Hong Kong, Singapore, USA, and European Union countries,” according to U Kyaw Win Tun from DICA.

‘‘We have signed Trade and Investment Framework Agreements with USA. We have more steps to reach a bilateral agreement and we are negotiating by forming working groups on the subject,’’ he said.

The countries that have signed a deal with Myanmar are Philippines, Vietnam, China, Laos, Thailand, India, Kuwait, Indonesia, Japan, Korea and Israel and the agreement with USA is the one on attracting investment.

“The deal with Singapore has reached its final stage and is expected to be signed this year,” U Kyaw Win Tun said.

EU-Myanmar investment promotion and prevention deals have been in the works since 2014, but EU halted the negotiation because of what happened in Rakhine State in late 2017.

Since 2011, the EU has progressively re-engaged with Myanmar, including in its trade and investment relations. They have lifted sanctions with the exception of an arms embargo granting preferential access to the EU market launched negotiations for an investment protection. 

“Singing with EU for an investment deal will be very detailed especially in legislation including Myanmar’s political situation,” U Kyaw Win Htun, Director of Directorate of Investment and Company Administration, said. 

“Myanmar has no more hope to sign an investment protection agreement in next three years caused by the conflict in northern Rakhaing State,” according to Myanmar Investment Commission Secretary U Aung Naing Oo’s remarks on Myanmar Investment Outlook Seminar-2018 on January 7th.

Eight out of 28 EU member countries such as Britain, Netherlands, France, Austria and Lunenburg have made investments in Myanmar, according to DICA.

The first deal was signed with Philippines, a member of ASEAN, in 1998 and the last deals were with Israel and South Korea in 2014.

(Myanmar Business Today: https://www.mmbiztoday.com/articles/2014-few-investment-promotion-and-protection-deals-signed-more-deals-come )

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