Nishant Choudhary, DFDL Senior Adviser and Eurocham Myanmar Legal Advocacy Group Co-Chair, along with other Eurocham representatives went to Naypyidaw on 23rd of January. Here they held a number of high-level meetings in Myanmar with several senior representatives of the Myanmar government to discuss foreign investment into the country and its various legal aspects. The first meeting was with Thura U Swe Mann, Chairman of Legal Affairs and the Special Issues Assessment Commission. EuroCham Myanmar discussed the latest developments in foreign investment into the country, and how European businesses contribute to the strengthening of the regulatory framework in Myanmar.
At an advocacy dinner held with 15 delegates from the Economic and Financial Development Committee (Pyithu Hluttaw), represented by Ms. Khine Wai Thwe, Nishant along with his Eurocham counterparts discussed the importance of government guarantees as part of efforts to secure increased levels of foreign funding into the Myanmar power sector. The criticality of accelerating regulatory reforms in the realm of Foreign Direct Investment (FDI) was also emphasized, along with the importance of ensuring a peaceful and stable political environment conducive to greater investor confidence.
Lastly, the Union Attorney General’s Office, represented by Deputy Attorney General, U Win Myint and the Director Generals, Daw Khin Cho Ohn and U Min Swe and Director, Dr. Kyi Kyi Than Aung received Eurocham Myanmar at their offices for further discussions. Nishant expanded on foreign investor concerns regarding property rights and the registration of certain instruments. The key points focused upon foreign companies’ abilities to protect or transfer their assets in Myanmar, and their ability to create mortgages or securities over their immovable assets. The Union Attorney General’s Office proved very receptive to these issues and concerns, and prompt action on these matters has been promised. The meeting was also featured on local media, The Myanmar International TV, click here to view.
Overall, the meetings held with various sections of the Myanmar government proved highly successful, re-affirming the importance that the government places on foreign investment and participation, and their acknowledgment of the role that foreign involvement plays in speeding the process of regulatory reform, ensuring a robust civil society, and heightened prosperity for all in the Union of Myanmar.
a. Meeting with Thura U Swe Mann, Chairman of Legal Affairs and Special Issues Assessment Commission: http://eurocham-myanmar.org/post/197/EuroCham-meets-with-Thura-U-Swe-Mann-Chairman-of-Legal-Affairs-and-Special-Issues-Assessment-Commission
b. Dinner with the Chairman of the Economic and Financial Development Committee, Pyithu Hluttaw: http://eurocham-myanmar.org/post/198/EuroCham-Myanmar-Dinner-with-the-Chairman-of-the-Economic-and-Financial-Development-Committee-Pyithu-Hluttaw-
c. Meeting with the Attorney General’s office: http://eurocham-myanmar.org/post/200/Union-Attorney-Generals-Office-received-EuroCham-Advocacy-Groups
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