The Nation

aec

Smaller
Larger

US firms see 'remarkable progress' in Myanmar

US business executives, completing their third annual visit to the Myanmar on Friday, praised the country for the progress it has achieved over the past two years.

"During this mission we have seen first-hand the remarkable progress Myanmar has made since the council brought the first US Business Mission here two days after the suspension of sanctions in 2012," said Alexander Feldman, president and CEO of the US-Asean Business Council, who led the mission.

"While more progress remains to be made, US companies now have a vital, growing presence in Myanmar, ranging from investments in energy, manufacturing, and power generation, to legal services, financial services, and consumer products," Feldman said.

US investment brings "world-class corporate social responsibility projects and game-changing respect for environmental and labour best practices," he added.

Companies participating on the delegation include the council's Myanmar Committee chair Chevron, its vice-chairs Baker & McKenzie, GE, and P&G, as well as ACE, AIG, Baxter, Caterpillar, Citi, ConocoPhillips, Covidien, Deloitte, ExxonMobil, FedEx, Ford, GM, Intel, Oracle, Pfizer, RMA, and Visa.

The first stop of the third mission was Nay Pyi Taw, where delegates met with Myanmar's most senior leaders, including President Thein Sein, Speaker of the Lower House Thura U Shwe Mann, and National League for Democracy chairwoman Daw Aung San Suu Kyi. They also met numerous ministers.

Delegates then travelled to Yangon to meet members of civil society, including 88 Generation Peace and Open Society, and the US Ambassador to Myanmar, as well as visit Thilawa Special Economic Zone. Mariano Vela, president of Chevron Myanmar and chairman of the council's Myanmar committee led the delegation, along with Feldman.

Delegates said they were focused on four key points:

l offering their strong support for the continuation of Myanmar's economic reforms, including the continued evolution of the legal and regulatory environment;

l supporting the continued development of effective infrastructure in Myanmar, including both physical and digital infrastructure;

l supporting the development of Myanmar's human capacity, including support for training and education, as well as healthcare and access to clean water and sanitation; and

l offering support for Myanmar's Asean chairmanship and its growing regional role.


Comments conditions

Users are solely responsible for their comments.We reserve the right to remove any comment and revoke posting rights for any reason withou prior notice.