Singapore Association of Myanmar (SAM) organized the first SAM Business Summit in Myanmar to discuss and share views on economic, legal and specific industry sectors of Myanmar

Singapore Association of Myanmar organized inaugural SAM Business Summit for the first time in Myanmar.

Business leaders from Singapore and local entrepreneurs gathered at the Summit held in Yangon on Thursday to discuss and share their views on economic, legal and specific industry sectors of Myanmar.

The Summit aims at supporting the business community to be kept up-to-date with the latest regulations, developments in various business sectors as well as business trends such as the digital economy.

President, Singapore Association of Myanmar, Sims Teo said “To organize a business summit, to bring Singaporeans closer to the business committee is one of the objectives of our association…. Myanmar has a great potential to provide many diversify opportunities for our Singapore business people. Business Summit like this of course even more direct engagement to encourage Singapore Investors to come here.”

Myanmar’s economic growth forecast is expected to increase from 6.6% in 2018 to 7.2% in 2019, according to Asian Development Bank.

Union Minister for the office of the Union Government U Thaung Tun explained the Government’s efforts for economic development, and stressed that the county’s economic growth will develop soon.  

Union Minister, The office of the Union Government, H.E. Thaung Tun said “The summit suggests that more investments will come into Myanmar due to the open up economic transformation. Many foreign investors are facing many difficulties when they want to make investment. So If there is concerned Ministry, it will be convenient for the foreign investors. Now the government is also carrying out to expand new Ministry named “Ministry of Investment and Foreign Economic Relations” to focus on the development of the country’s investment process.”

This year, the SAM Business Summit is organized in line with the 24th SAM Fundraiser and Charity Golf & Dinner that will be held on 16 November. From its inception in 1991, SAM has raised funds to help various Myanmar charities and this year, it aims to raise 200,000 USD to build a school and shelter for underprivileged children in Myanmar.

Ambassador, Singapore Embassy to Myanmar, H.E. Vanessa Chan said “Singapore Association of Myanmar is all volunteered. They are doing national services here organizing in their owned time their owned resources. I think the participation in the event, at least Singaporean’s interest and believe in the investment and development possibilities of Myanmar.”

Two panel sessions which facilitated by senior business leaders on “The Economic Outlook of Myanmar in 2019” and “Digitalization in Myanmar” were also included in the Summit.

(Myanmar International TV Channel: https://www.myanmaritv.com/news/sam-business-summit-supporting-business-community )

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