Alexander Feldman, chairman of US-ASEAN Council pointed out needs such as electricity, transportation and telecommunication in addition to infrastructures with regard to property market in Myanmar.The price of property in Myanmar is higher than that in New York, even the property’s price in other developing countries is not as high as that in Myanmar, and the property of Myanmar may continue to increase in price, says a person from Myanmar Property Association.
Entrepreneurs at home and foreign investors say a surge in price of property and regular accessibility of electricity are a challenge to those who are interested in investing in Myanmar.
Besides rich natural resources and adequate manpower, the president said Myanmar's strategic location also offers a huge market for global investors eyeing South Asia and Southeast Asia.
At a meeting with a business delegation led by USABC president Alexander Feldman in Nay Pyi Taw on Monday, U Thein Sein said cooperation in technology and investment could bring mutual interest as Myanmar has huge economic potential.
On information, communication technology and telecommunications sectors, U Thein Sein said the government is cooperating with local operators to ensure 80 per cent of its population has access to mobile services by 2015.
During the meeting, they frankly discussed bilateral cooperation in achieving Myanma economic growth with technical assistance and investments of the USASEAN Business Council, cooperation with global companies in oil and natural gas exploration, ways to overcome chal lenges , supply of natural gas for future need of the country and production of electricity, potentials for generating electricity with the use of energy resources such as coal and water without harming ecosystem, useful ways to generate electricity without harming ecosystem, plans to promote socioeconomic status and progress of cooperat ion with the Extractive Initiative Transparency Industry
In addition, a discussion regarding further exploration of the Myanmar market was imitated. "Last year, US companies just came to Myanmar, observed the conditions and went back. But, this year, companies start doing businesses," noted Anthony Nelson, director of the United States - ASEAN Business Council.
Nelson was the primary speaker in the meeting, as well as council president Alexander Feldman. The conference was held in the capital city of Yangon in front of main stakeholders.
The Myanmar delegation was composed of Myanmar President Thein Sein, Speaker of the Lower House of Parliament Thura U Shwe Mann, and leader of the opposition and National League for Democracy chairperson Aung San Suu Kyi.
President of the Republic of the Union of Myanmar U Thein Sein received a business delegation led by President of US-ASEAN Business Council Mr. Alexander Feldman at the hall of the Presidential Palace, here, at 11 am today.
The President was accompanied by Union Ministers U Wunna Maung Lwin, U Soe Thane, U Than Htay, U Win Myint and Dr Kan Zaw and departmental heads. Also present at the call together with the President of US-ASEAN Business Council were chairmen, executive directors and officials of AIG China, AT&T, Baker & Mckenzic, Unocal Myanmar Offshore, Chevron, CAT, Cisco, Conoco Philips, Deloitte & Touche, General Electric, General Motors, IBM, KPMG, Mclarty Associates, metlife, Merck, Oracle, P & G, RMA, VISA, Citi, River West Capital and TE Connectivity companies.
American business groups were in Myanmar this week on a mission to offer support for the country's economic reforms and discuss opportunities to support Myanmar's 2014 chairmanship of Asean.
The mission was organised by the US-Asean Business Council and led by a delegation of senior US business executives. They met with key leaders including President Thein Sein, Speaker of the Lower House of Parliament Thura U Shwe Mann, and Chair of the National League for Democracy and Member of Parliament Aung San Suu Kyi. The delegation was led by Mariano Vela, president of Unocal Myanmar Offshore and chair of the council's Myanmar Committee, and Alexander Feldman, president of the US-Asean Business Council.
YANGON, July 9 (Bernama) -- Myanmar's President U Thein Sein says his country is striving to reduce poverty rate by 16 per cent in 2015 and has called for the support of US-ASEAN Business Council (USABC) for Myanmar's economic development, Xinhua news agency reported official media as saying. At a meeting with a business delegation led by USABC president Alexander Feldman in Nay Pyi Taw on Monday, U Thein Sein said cooperation in technology and investment could bring mutual interest as Myanmar has huge economic potential.
The President of Myanmar (Burma) Thein Sein received a business delegation led by President of US-ASEAN Business Council Mr. Alexander Feldman at the hall of the Presidential Palace in Nay-Pyi-Taw on Monday, the state-run New Light of Myanmar reported today. According to the President, USA-SEAN Business Council served as an important institution for USA-SEAN relations. He added that only peace and stability could bring development of national economy development through which the nation could make possible advancement towards a democratic goal. To fulfill that aspiration, the nation needs the support of the US-ASEAN Business Council.
As China and India begin to lose luster, private investors are increasingly setting their gaze on the diverse and rapidly growing countries of ASEAN. For US businesses, the shift has become especially palpable.
“ASEAN has risen to much greater prominence, both globally and in Washington D.C.,” Alexander Feldman, President of the US-ASEAN Business Council, said at the US-ASEAN Economic Ministers Roadshow, which concluded on June 13.
“US businesses have taken notice and today ASEAN hosts the largest US foreign direct investment commitment in Asia,“ he continued.
Discussions at the meeting between US businesses and ASEAN ministers revolved around the knowledge economy, with a particular focus on creative industries and the media.
Walking into the Washington headquarters of the US-ASEAN Business Council, it's difficult not to be dazzled by the organization's impressive collection of paintings, travel posters, official gifts and tchotchkes that decorate the walls and fill the bookcases.
In one corner, there's a vase given by U Khin Maung Thet, director-general of Myanmar's Posts & Telecoms Department, and in another, a book of Indonesian commemorative stamps. On a nearby shelf sits a colorful scale-model jitney bus from the Philippines, while off to the side is a ceramic plate from the National Assembly of Vietnam.
Look hard enough, and eventually you'll find a souvenir from every one of the 10 countries that make up the Association of Southeast Asian Nations (ASEAN).