Yangon Investment Forum suspended due to virus fear

Yangon Investment Forum which is scheduled for February is suspended due to the spreading of coronavirus, said U Thant Zin Lwin, Secretary of Myanmar Investment Commission (MIC)

The investment forums are scheduled to take place in Yangon, Sagaing, and Bago Regions during this year.

Currently, there is no plan to suspend Sagaing Investment Forum scheduled for March.

Following the outbreak of coronavirus, the number of Chinese businesspersons who will discuss the Directorate of Investment and Company Administration (DICA) has declined. But there is no cancellation of agreed investments, he added.

The spreading of coronavirus in China may lead to stagnant businesses not only in Myanmar but also in China. It may have a knock-on effect on the countries which have economic relations with China.

“Border areas see temporary suspension. Cambodia and Thailand quarantine the suspected people for 14 days. Myanmar also needs to monitor the tourists,” he added.

Yangon Investment Forum (2018) was held at Novotel Hotel in Yangon on 9 May 2018 and Yangon Investment Forum (2019), at Lotte Hotel on 10 May 2019.

At Yangon Investment Forum (2019), Myanmar State Counsellor Daw Aung San Suu Kyi said the government would create a favorable, transparent business environment for investors.

She also urged businesspersons to grasp investment opportunities in Yangon Region. In a bid to bring about economic growth for future Myanmar, the government on its part would extend a helping hand to investors.

Source: Myanmar Times

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