KUALA LUMPUR, Feb 10 — A delegation of Southeast Asia’s top businessmen led by Malaysia’s top banker Datuk Seri Nazir Razak has pledged to support Myanmar as a potential investment partner while it undergoes a political and economic transformation.
In a meeting in Yangon earlier this week, the group met with Myanmar’s investment authorities, local business leaders and Aung San Suu Kyi to assure them that the ASEAN Business Club (ABC) was committed to regional investment that was sustainable and would empower rather than crowd out local business enterprise as Myanmar nationals make up a large number of migrant workers who have contributed to the region’s growth.
The delegation said a reformed Myanmar could play a strategic role within the ASEAN economic community and discussed ways ASEAN businesses could support this linked process as they carried out trade and investment with Myanmar.
Myanmar’s Deputy Minister of Rail Transportation Thura U Thaung Lwin, who sits on the country’s investment commission, pledged that the government was committed to improving its legal and tax framework for foreign investment and outlined existing plans for special economic zones.
The delegation also included CIMB Group chairman Tan Sri Md Nor Yusof, AirAsia Bhd chief executive Tan Sri Tony Fernandes, Malaysia’s state investment firm Khazanah Nasional Bhd’s chief director of investments Tengku Azmil Raja Abdul Aziz and Singapore-owned investment firm Temasek Holding’s director Goh Yew Lin.