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Statement by the Secretary-General
Statement by the Secretary-General of ASEAN
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H.E. Dato' Ajit Singh
at the Briefing on Myanmar for the
First ASEAN Business Mission to Myanmar
Yangon, 11-13 November 1997
Your Excellency, Brig. Gen. D.O. Abel,
Minister for National Planning and Economic Development
Distinguished Delegates,
Ladies and Gentlemen,
Let me begin by thanking Your Excellency and the Government of the Union
of Myanmar for receiving
so warmly the first ASEAN Business Mission to Myanmar organised by the
ASEAN Business Forum
and which I am so privileged to lead. On behalf of the mission, let me
also say how much we have
appreciated the interest which you have personally taken in ensuring that
all arrangements are made to
enable the delegation to have a complete and full briefing on all the
relevant aspects of interest to it.
2. You have drawn up a very comprehensive programme which includes calls
on the Minister for
Finance and Revenue and the Minister for Foreign Affairs and briefings by
the Ministries of Finance,
Commerce, Agriculture and Irrigation, Forestry, Energy, Livestock and
Fisheries, Hotels and Tourism,
Telecommunications, Post and Telegraph, and also briefings by the Myamnar
Investment Commission
as well as the Myamnar Industrial Development Committee. Opportunities
have also been provided for
the mission to interact with the local business community and to visit
some industrial sites.
3. All the efforts you have taken are a demonstration of the importance
your Government attaches to
inviting the private sector to invest in Myanmar. As you have said so
eloquently at your key-note
address this morning and for which we would like to thank you, Myanmar
not only welcomes such
investments but would also do all it can to ensure that the investors'
needs are met.
4. I consider it important that Myanmar gives a clear signal that it is
pro-business and is strongly
committed to opening the country to investments from abroad, particularly
from the ASEAN region.
You have some very good examples to follow by the lead that the other
ASEAN Members have taken
so successfully in inviting foreign investments into their countries. For
instance, in 1996, ASEAN was
among the top 15 recipients of FDI among developing countries, recording
a total of US$28.9 billion.
5. Although there may be some outside pressures on Myanmar, the interest
within ASEAN to invest
here remains strong. This is evidenced by the fact that Brunei
Darussalam, Indonesia, Malaysia, the
Philippines, Singapore and Thailand have invested here. ASEAN has,
accordingly to Myanmar statistics
as of 31 August 1996, invested about US$2 billion, which represented 44%
of the total FDI in this
country. The fact that the ASEAN Business Forum has organised this
mlssion at a time when we are
going through troubled times as a result of the currency crisis and the
fall of the stock markets in our
region, is a further indication that the business sector in ASEAN is
confident in the future of this counbry
and is keen to look for business opportunities here in order to be a
partner in your development efforts.
6. With a size which is only second to Indonesia, a potential market of
47 million people and richly
endowed with such natural resources as forests, gems, oil and gas,
Myanmar is well-placed to become
an important destination for investors and businessmen from both within
and outside ASEAN. In
addition to that, as Myanmar begins to implement the ASEAN Free Trade
Area agreement early next
year, Myanmar would also be able to exploit the fact it has low tariff
rates. Out of its total tariff lines of
5,472, 43.1%, (or 2,356 of them), will be in the Indusion List of the
CEPT Scheme, with about 71.4%
of these having tariffs of 5% or less. Only six tariff lines will carry
rates of over 20%. This would make
Myammar a very attractive production base for ASEAN and worldwide
markets.
7. Undoubtedly, Myanmar has vast natural and human resources and with the
right mix of business and
investor-friendly policies, together with attractive incentives, I am
confident that Myanmar will be a
strong magnet in attracting those who desire to trade and invest bere.
8. Lastly, I wish to thank the ASEAN Business Forum for its initiative to
send this mission to Myanmar.
I hope it will be followed by missions to other new markets, such as Laos
and Vetnam.
[13 November 1997]
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