State Counsellor of Myanmar Aung San Suu Kyi at the Invest Myanmar Summit in Nay Pyi Taw (Photo: EPA) Hanoi (VNA) – StateCounsellor of Myanmar Aung San Suu Kyi on January 28 urged global investors topour their money into Myanmar, seeking to offset the negative impact of theRohingya crisis and slow pace of economic reforms.
Speaking at a conference oninvestment in the capital Nay Pyi Taw, Suu Kyi touted Myanmar's economicpotential, its attractive location, expanding domestic markets and youngpopulation. She also listed some reforms undertaken by the government since itcame to power in 2016.
Investors still complain thegovernment has focused on ending the country's myriad armed conflicts,neglecting economic reforms and their needs.
The International Monetary Fund saidlast year its data indicated that some foreign investors were delaying finalapproval of projects until there was clarity about how the situation mayunfold.
In addition, the EU is consideringtrade sanctions against Myanmar. The measures could include Myanmar's lucrativetextile industry and put thousands of jobs at risk.
The World Bank said last month itexpected Myanmar's gross domestic product to fall to 6.2 percent in the 2018-19fiscal year from 6.8 percent the year before. It saw elevated downside risksfrom intensifying impacts of the Rakhine crisis, among other factorscontributing to slowing growth. -VNA
Speaking at a conference oninvestment in the capital Nay Pyi Taw, Suu Kyi touted Myanmar's economicpotential, its attractive location, expanding domestic markets and youngpopulation. She also listed some reforms undertaken by the government since itcame to power in 2016.
Investors still complain thegovernment has focused on ending the country's myriad armed conflicts,neglecting economic reforms and their needs.
The International Monetary Fund saidlast year its data indicated that some foreign investors were delaying finalapproval of projects until there was clarity about how the situation mayunfold.
In addition, the EU is consideringtrade sanctions against Myanmar. The measures could include Myanmar's lucrativetextile industry and put thousands of jobs at risk.
The World Bank said last month itexpected Myanmar's gross domestic product to fall to 6.2 percent in the 2018-19fiscal year from 6.8 percent the year before. It saw elevated downside risksfrom intensifying impacts of the Rakhine crisis, among other factorscontributing to slowing growth. -VNA
VNA
