Myanmar, EU to sign investment agreement

EU MyanmarMyanmar will soon sign an investment protection agreement with the European Union to promote foreign investments, according to the Myanmar Investment Commission (MIC).

“The EU has begun to make investments in Myanmar. We have agreed with the EU on principle to sign an investment protection agreement. Soon, discussions will start. After signing the agreement, EU investments will flow into Myanmar. Currently, investments have come from France, Luxemburg and Switzerland,” said an official from the MIC.

Critics, however, point out that the government officials went against their previous words in their haste to sign investment agreements with the foreign countries, especially Japan and the EU.

“It’s true that there are guidelines for international investment agreements. Not to stray from these guidelines is important. It is important to make the other laws consistent with our constitutional rights. Before signing the investment, we have to look back at our country situations. For example, we signed an agreement with Japan. We did it after discussing for one and a half years. We did negotiations. Above all, we think about the future consequences and current situations every time before we sign agreements,” said Aung Naing Oo, Director General of the MIC.

“In fact, investment protection agreements have both good and bad points. For example, having a bilateral investment protection agreement makes sure that the investors in the other countries have less risks to do business here. This will help to boost investments,” he added.

On his trip to Europe in 2012, President Thein Sein had also pledged to sign the investment agreement between Myanmar and the EU.



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Myanmar will soon sign an investment protection agreement with the European Union to promote foreign investments, according to the Myanmar Investment Commission (MIC). “The EU has begun to make investments in Myanmar. We have agreed with the EU on principle to sign an investment protection agreement. Soon, discussions will start. After signing the agreement, EU investments will flow into Myanmar. Currently, investments have come from France, Luxemburg and Switzerland,” said an official from the MIC. Critics, however, point out that the government officials went against their previous words in their haste to sign investment agreements with the foreign countries, especially...

EU MyanmarMyanmar will soon sign an investment protection agreement with the European Union to promote foreign investments, according to the Myanmar Investment Commission (MIC).

“The EU has begun to make investments in Myanmar. We have agreed with the EU on principle to sign an investment protection agreement. Soon, discussions will start. After signing the agreement, EU investments will flow into Myanmar. Currently, investments have come from France, Luxemburg and Switzerland,” said an official from the MIC.

Critics, however, point out that the government officials went against their previous words in their haste to sign investment agreements with the foreign countries, especially Japan and the EU.

“It’s true that there are guidelines for international investment agreements. Not to stray from these guidelines is important. It is important to make the other laws consistent with our constitutional rights. Before signing the investment, we have to look back at our country situations. For example, we signed an agreement with Japan. We did it after discussing for one and a half years. We did negotiations. Above all, we think about the future consequences and current situations every time before we sign agreements,” said Aung Naing Oo, Director General of the MIC.

“In fact, investment protection agreements have both good and bad points. For example, having a bilateral investment protection agreement makes sure that the investors in the other countries have less risks to do business here. This will help to boost investments,” he added.

On his trip to Europe in 2012, President Thein Sein had also pledged to sign the investment agreement between Myanmar and the EU.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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