On 17 May 2017, the Thai Ambassador to Myanmar participated in the Thai Business Association of Myanmar (TBAM)’s third annual Myanmar Update on Myanmar’s laws and taxation system. This year, TBAM invited distinguished speakers such as U Aung Naing Oo, Director General of the Directorate of Investment and Company Administration, to give a talk on the new Myanmar Investment Law, which just came into effect on 1 April 2017. Other distinguished speakers included representatives from leading law firms, such as Baker & McKenzie, Tilleke & Gibbins, and Deloitte, who provided information on the investment incentives and differences between the new Myanmar Investment Law compared to the previous one. Moreover, they also provided information on the Ministry of Commerce’s new notifications and an overview of Myanmar’s taxation system, which was very useful for the 150 participants.

The Thai Ambassador delivered the opening remarks and gave a special presentation on Myanmar’s political and economic transformation. He emphasized Myanmar’s democratic transition and the ongoing peace process, which has led to political stability and a conducive business environment. At the same time, he also noted the Myanmar government’s continuous economic reforms and improvement of related laws, which have opened up more sectors for foreign investment. Although the government’s efforts have not been rapid enough in meeting the expectations of local and foreign businessmen, the Ambassador found the economic reforms to be a good sign for the economy and investment environment. As such, he asked Thai investors to study and to follow Myanmar’s laws and regulations. Moreover, he also asked Thai businessmen to conduct their business with responsibility, and to organize corporate social responsibility (CSR) activities in their investment area, to strengthen and consolidate the positive view of Thai businessmen in Myanmar.