The Myanmar Government is aiming to attract increased foreign direct investments (“FDI”) from East Asia over the next 20 years under its new Myanmar Investment Promotion Plan (“MIPP”). According to U Than Aung Kyaw, deputy director general of the Directorate of Investment and Company Administration (“DICA”), under the MIPP Myanmar will work on strengthening trade ties with its ASEAN neighbours, Myanmar and also target FDI from East Asia, including South Korea, Japan and Greater China. The shift in focus towards investment from the east follows lowering expectations of major FDI inflows from the west, as international pressure mounts for action to be taken to ease the crisis in Rakhine.
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