Myanmar is considering allowing direct investment in the country using the Chinese yuan to make it easier for Chinese companies to operate, Acting President and State Security and Peace Commission Chairman Senior General Min Aung Hlaing said. A decision is expected soon.
At the 2nd Myanmar-China Economic Cooperation Meeting in Chengdu on September 6, he called for the creation of a joint business group to accelerate investment and development. He explained that Myanmar is already implementing a yuan-kyat direct payment system for trade, border transactions, and investments, aiming to smooth the process for Chinese partners.
Senior General Min Aung Hlaing stressed that Myanmar aligns with many priority sectors under China’s Global Development Initiative, offering ample opportunities for investment. He said Myanmar is providing incentives such as tax breaks, tariff reductions, and guarantees to protect investors.
He added that Myanmar’s general election scheduled for December would enhance political stability, which in turn would expand economic opportunities. By combining Myanmar’s natural resources and workforce with Chinese investment, he said, both nations would see significant benefits.
Concluding, he invited Chinese businesses to invest with confidence, expressing hope that cooperation will bring stronger, long-term ties.
The meeting was attended by Myanmar officials, Chinese and Myanmar ambassadors, UMFCCI leaders, and over 120 Chinese entrepreneurs and experts from Yunnan, Sichuan, Chongqing, and Hunan.
