Briefing on U.S. Sanctions on Myanmar & Investment

Kuala Lumpur – More than 15 representatives attended the briefing on U.S. Sanctions on Myanmar and investment opportunities in Myanmar, hosted at the AMCHAM Executive office in Kuala Lumpur. Andrew Herrup, Economic Counselor at the U.S. Embassy in Kuala Lumpur, updated members on the recent developments of U.S. Sanctions on Myanmar. The U.S. Government has waived many economic sanctions on Myanmar from the previous general board restrictions to a more calibrated engagement. Whilst Americans can now invest in Myanmar, import goods, and engage in financial transactions with Burmese nationals, there are however restrictions for the Specially Designated Nationals (SDN) list, new investment with military/armed groups and related entities, and certain travel restrictions. Overall the new U.S. Sanctions Policy announced in May 2012 sends a clear signal of support for the reform process and reformers.

In addition to updates on the U.S. Sanctions on Myanmar, Jeremy Tan, Senior Consultant of Corporate Investigations at Controls Risks (Southeast Asia) provided updates on Myanmar 2015 Investment Outlook. Myanmar continues to be a ideal naiton for investment due to its strategic location between India, China, and Southeast Asia as well as its relatively untapped market, rich natural resources, and youthful demographics with low labor costs. Key sectors in Myanmar include FMCG, agribusiness, infrastructure, energy, extractives, and financial services. Overall, the investment outlook in Myanmar is positive but significant implementation challenges remain as the government seeks to enact reforms to facilitate investment, rapidly raise the standard of living, meet expectations, and begin delivering government services.

For more information of the event, please contact Stephanie Chua at [email protected].