27 February 2013
Opening remarks: H.E. U Tin Latt, Ambassador of Myanmar
PwC Malaysia held a sharing session on investing in Myanmar for businesses looking to expand into this emerging market. More than 100 corporate leaders including finance and legal professionals, attended the event.
H.E. U Tin Latt, Ambassador of Myanmar giving the opening remarks
Participants listening intently at the event
The audience were given an overview on the latest economic and regulatory developments in Myanmar, and what it means for their business.
Topics discussed included collaboration between Malaysia and Myanmar; a guide to setting up a new business, tax considerations and financial support; and Myanmar’s legal system.
Among the key highlights:
Prospects are encouraging for investors in Malaysia
But it’s important to manage risks
While the speakers lauded recent efforts by the Myanmar government to stimulate the economy; they cautioned that businesses need to recognise the structural and regulatory challenges that may impact them.
Foreign exchange controls, limited access to finance, inflation, and lack of skilled local talents are some of the key issues that businesses have to contend with.
Jessica San, PwC Myanmar Associate Director speaking on tax considerations for potential investors
U Win Naing and Paul Subramaniam from ZICOlaw Myanmar Ltd. and ZICOlaw, respectively
Riding on the positive wave of market sentiments, potential investors should keep the latest economic and socio-political developments on their radar, and identify the opportunities and risks which may affect their business.
Paul P Subramaniam of ZICOlaw summed up the event theme very well, calling businesses to tap into this promising market because “the gold rush is there”. “Plus, Myanmar has the largest deposits of rubies in the world,” he added.