Myanmar, Hong Kong to negotiate investment pact

Hong Kong boatDuring a visit of Hong Kong’s financial secretary John Tsang in Myanmar on June 26, both governments agreed on negotiations about a bilateral investment promotion and protection agreement, with a double taxation agreement to follow, the Myanmar Times reported.

Tsang was quoted as saying that the deal “will provide certainty and clarity” to businesses in both jurisdictions and that negotiations “should be fairly straightforward”.

He expressed interest of Hong Kong companies to invest into Myanmar’s garment industry, adding that Myanmar’s recent readmission to the European Union’s generalised scheme of preferences will “create opportunities” for companies seeking duty-free exports to that market.

Tsang also encouraged executives in Myanmar to consider Hong Kong  as a platform for accessing mainland China. He added that Hong Kong’s expertise in financial services, logistics, infrastructure and professional services and other key areas can contribute to the further development of Myanmar.

Hong Kong currently is the third largest foreign investor in Myanmar, with 49 of its companies having invested or planning to invest a total $6.39 billion.



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During a visit of Hong Kong's financial secretary John Tsang in Myanmar on June 26, both governments agreed on negotiations about a bilateral investment promotion and protection agreement, with a double taxation agreement to follow, the Myanmar Times reported. Tsang was quoted as saying that the deal “will provide certainty and clarity” to businesses in both jurisdictions and that negotiations “should be fairly straightforward”. He expressed interest of Hong Kong companies to invest into Myanmar's garment industry, adding that Myanmar’s recent readmission to the European Union’s generalised scheme of preferences will "create opportunities" for companies seeking duty-free exports to that...

Hong Kong boatDuring a visit of Hong Kong’s financial secretary John Tsang in Myanmar on June 26, both governments agreed on negotiations about a bilateral investment promotion and protection agreement, with a double taxation agreement to follow, the Myanmar Times reported.

Tsang was quoted as saying that the deal “will provide certainty and clarity” to businesses in both jurisdictions and that negotiations “should be fairly straightforward”.

He expressed interest of Hong Kong companies to invest into Myanmar’s garment industry, adding that Myanmar’s recent readmission to the European Union’s generalised scheme of preferences will “create opportunities” for companies seeking duty-free exports to that market.

Tsang also encouraged executives in Myanmar to consider Hong Kong  as a platform for accessing mainland China. He added that Hong Kong’s expertise in financial services, logistics, infrastructure and professional services and other key areas can contribute to the further development of Myanmar.

Hong Kong currently is the third largest foreign investor in Myanmar, with 49 of its companies having invested or planning to invest a total $6.39 billion.



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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