Thursday 23 May 2013

President Thein Sein invites US investments for development of Myanmar’s middle class

President Thein Sein has invited private sectors from the United States to invest in the development of middle class people in Myanmar.

The visiting Myanmar leader on his first visit to US made a speech on meeting with the US businessmen at US Chamber of Commerce on May 20.


President Thein Sein said, “We’d like to encourage the US companies to invest in Myanmar for the development of our middle class people. Myanmar is a country located in a strategic location with many economic partners, and so it can provide a wealth of business opportunities.”

Thein Sein called for an end of economic sanctions which isolated Myanmar from the global communities for decades. He asked for the assistance from the US businessmen in obtaining a market economy in Myanmar.

“Myanmar’s substantial reforms under President Thein Sein’s leadership have forged a path forward for the United States government to ease trade and investment restrictions, giving American businesses an enormous opportunity to engage Myanmar’s growing consumer market,” Chamber’s Vice President for Asia Tami Overby was quoted in a news release by the US Chamber of Commerce.

He said, “For their part, U.S. companies can provide the training, human resource development, respect for the environment, respect for the rule of law, and the highest standards of governance and transparency – all of which the Myanmar government and private sectors have repeatedly requested.”

Earlier this year, a group of 50 delegates from US visited Myanmar to study business opportunities in the country. The group consisted of US businessmen from various industries including information technology, energy and automobile.

President Thein Sein will return home on the night of May 22.

source: Eleven Myanmar

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