Union Minister for the Ministry of Investment and Foreign Economic Relations, Aung Kyaw Htoe, said that permitting investments to be made in Chinese yuan will help make trade and investment processes smoother and faster.

The remarks were made during a discussion meeting on investment facilitation and investment opportunities using the yuan currency, held on May 25 at the Yangon Region Directorate Office of the Directorate of Investment and Company Administration (DICA) in Yangon.

During the meeting, the Union Minister said that as Myanmar is a member of the Regional Comprehensive Economic Partnership (RCEP), the country is cooperating in implementing projects under the China-Myanmar Economic Corridor (CMEC). He noted that allowing investments in yuan currency would contribute to improving the efficiency and speed of trade and investment activities.

Relevant officials later explained investment opportunities, the investment situation in Yangon Region, and the policies and procedures related to yuan-denominated investments.

Business representatives attending the event also raised questions, which were answered by officials from the Directorate of Investment and Company Administration, the Department of Trade, and the Central Bank of Myanmar.

Following the discussions, the Union Minister inspected the operations of the One Stop Service (OSS) center at the Yangon Region Directorate Office of DICA.

The meeting was attended by Union Minister Aung Kyaw Htoe, the Yangon Region Minister for Planning, Economy and Finance, the Economic Counselor of the People’s Republic of China to Myanmar, representatives from Chinese business associations based in Myanmar, and businesspeople.