American investors are showing in­creasing interest in Myanmar as the govern­ment shows increasing signs that it is commit­ted to overcome legal and development hurdles to make doing business here easier, an audience at a panel on Myanmar’s in­vestment laws has heard.

Kristan Bauer, deputy chief of mission at the United States Embassy to Myanmar American com­panies are “closely moni­toring” Myanmar and its economic development, especially the new invest­ment law and the issue of legal protections for American investors.

Bauer was talking at an event organized by the Oxford Business Group last week at the Chatrium Hotel in Yangon.

“I think (US investors) will come here when they see the progress the in­vestment law is making … Myanmar has huge po­tential in the region,” she said.

Also on the panel was U Aung Thura, chief ex­ecutive officer of Thura Swiss. He said legal lib­eralization is one of the key points of progress in attracting foreign invest­ment because business are keen to know they will be protected as they mon­itor the country’s change.

“Legal protection is not the only thing needed to attract the foreign invest­ment. There’s a need for other infrastructure,” he said.

He cited the need for clear rules on taxation, government registration processes and monetary transactions and said in­vestors would consider improvements “overall” before deciding whether or not to come to Myan­mar.

U Kyaw Kyaw Hlaing, Chairman of the Myan­mar Oil and Gas Service Society, said that updat­ing the investment law and the companies act was not enough to lure foreign investment.

Meanwhile U Kyaw Win, the Minister of Plan­ning and Finance, empha­sised the need to ensure a level playing field for local and foreign investors.


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