Myanmar (Burma)

What's New?

ASEAN BUSINESS OUTLOOK SURVEY 2017: MYANMAR

(The following are results from the ASEAN Business Outlook Survey, the Chamber’s annual survey of US business perceptions of ASEAN’s business environment.  The survey was done in cooperation with AmCham Singapore, and the results are based on 475 responses from executives across the ASEAN region.)

 

2016

Honoring of H.E. Daw Aung San Suu Kyi, State Counsellor and Minister of Foreign Affairs

[Photo: Tami Overby, Senior Vice President of Asia at the U.S. Chamber of Commerce, delivers welcome remarks at the dinner honoring H.E. Daw Aung Saw Suu Kyi hosted by the U.S. Chamber of Commerce and U.S.-ASEAN Business Council.  September 15, 2016.]

The U.S. Chamber of Commerce and the U.S.-ASEAN Business Council sponsored a dinner event on September 15, 2016 to honor State Counsellor and Foreign Affairs Minister of Myanmar Daw Aung Saw Suu Kyi.  The Chamber and the USABC have a strong commitment to increasing trade and invetsment realtions with Myanmar, and plan for robust commercial engagement from the American business community will support economic growth in Myanmar.  Minister Suu Kyi reaffirmed this partnership by speaking to the substantial economic comtribution U.S. companies can make in the sustainable growth of the Myanmar economy.  

PUBLICATION: US-Myanmar Commercial Relations: The Next Phase

The U.S. Chamber of Commerce Myamar Working Group commissioned a paper outlining the history and future of U.S. trade and invetsment in Myanmar.  In recent years economic santions against Myanmar have eased and American companies are taking advantage of a long untaped market.  This report details the challenges to operate and grow in the Myanmar economy for international and local business.  This report recommends assistance and other programs to promote mutually beneficail economic opportunity, in addition to the proposal of a U.S.-Myanmar bilateral invetsment treaty.

2013 

Updated Resource for Doing Business in Myanmar 

U.S. Embassy Yangon has updated "Doing Business in Myanmar."  This site provides information and updates for U.S. businesses interested in operating in Myanmar. 
August 30, 2013

Myanmar Central Bank Law

The government of Myanmar recently passed a new central bank law, Pyidaungsu Hlattaw Law No.16/2013.  It was signed into law by President Thein Sein on July 11th.

The chief objectives of the new law include:
                                
                        (a) Stability of money
                        (b) Stability of the monetary system
                        (c) Developing an effective payment and transaction system         
                        (d) Supporting government general financial policies to develop
                               a vibrant economy

For an unofficial translation of the law, please click here (PDF).

U.S. Trade with Myanmar: 2013

U.S. Exports to Myanmar (Complete U.S. Export Country Rankings):

RankingU.S. Dollars% Share of World Total% Change 2012-2013
201120122013201120122013
#13318,622,37315,209,688104,608,741  0.00  0.00  0.01  587.78

 

Top 5 U.S. Exports to Myanmar (Complete List of U.S. Exports to Myanmar):

Commodity DescriptionU.S. Dollars% Share of Total% Change 2012-2013
201120122013201120122013
Pumps For Liquids; Liquid Elevators; Parts Thereof39,96775,26045,478,5960.210.4943.47
Civilian Aircraft, Engines, And Parts30,550024,409,0000.16023.33n/a
Motor Cars & Vehicles For Transporting Persons2,216,6707,366,9258,429,27811.948.448.0614.42
Wheat And Meslin8,713,943858,3254,670,57646.795.644.46444.15
Flour & Meal Of Oil Seed & Olea Fruit (No Mustard)002,544,940002.43n/a

 

U.S. Imports From Myanmar (Complete U.S. Import Country Rankings):

RankingU.S. Dollars% Share of World Total% Change 2012-2013
201120122013201120122013
#161038,0007,978,799  0.00  0.00  0.00

 

Top 5 U.S. Imports From Myanmar (Complete List of U.S. Imports from Myanmar):

Commodity DescriptionU.S. Dollars% Share of Total% Change 2012-2013
201120122013201120122013
Fish, Frozen (No Fish Fillets Or Other Fish Meat)003,802,325n/a047.66n/a
Precious Nesoi & Semiprec Stones, Not Strung Etc001,030,290n/a012.91n/a
Crustaceans Live Frsh Etc Smoked/Cooked Flours Etc00732,372n/a09.18n/a
Wigs Etc Of Hair Etc; Human Hair Articles Nesoi00508,285n/a06.37n/a
Leguminous Vegetables, Dried Shelled00501,201n/a06.28n/a

 

U.S. Chamber Hosts U Thein Sein, President of the Republic of the Union of Myanmar


U Thein Sein, President of the Republic of the Union of Myanmar,
addresses a dinner reception at the U.S. Chamber of Commerce.
May 20, 2013.


Tami Overby, Vice President, Asia, U.S. Chamber of Commerce, and
U Thein Sein, President of the Republic of the Union of Myanmar,
exchange gifts during a reception at the U.S. Chamber of Commerce.
May 20, 2013.

 

May 20 - U.S. Business Groups Welcome Myanmar’s President U Thein Sein to Washington
U.S. Chamber, US-ASEAN Business Council Urge Continued Progress to Normalize U.S.-Myanmar Economic Relations

 

May 20 - Beyond the BRICs: Myanmar Moves Toward a New Normal
ChamberPost by John Goyer

 

U.S. Chamber Hosts Myanmar Telecommunications and Information Technology Delegation

April 16 - The U.S. Chamber of Commerce hosted a working dinner for Thaung Tin (middle), Myanmar Deputy Minister of Telecommunications and Information Technology and Myanmar Ambassador to the United States Than Swe (right) to discuss reforms in the Myanmar ICT sector.  U.S. business representatives were present and led discussion on topics including regulations, infrastructure development and technical assistance.

U.S. Chamber Leads Business Delegation to Myanmar

U.S. Chamber Vice President Tami Overby meets with Myanmar Vice President (2)
U Nyan Tun

U.S. Chamber Myanmar mission delegation members meet with opposition leader
Aung San Suu Kyi in Naypyidaw on February 28, 2013

Assistant Secretary of State Jose Fernandez addresses the US-Myanmar trade and
investment symposium, co-organized by the U.S. Chamber and the Union of Myanmar
Federation of Chambers of Commerce and Industry in Yangon on February 25, 2013

This important conference brought together senior business executives and government officials from the United States and Myanmar to identify Myanmar’s economic development priorities and objectives, explore opportunities for expanding bilateral trade and investment across a range of key industry sectors, and build business partnerships.

Feb 22 - U.S. Chamber of Commerce to Lead 50-person Business Delegation to Myanmar
 

Feb 25 - "U.S. -Myanmar Economic Relations: The Path Forward" Symposium Presentations:

"The U.S.-Myanmar Trade and Investment Relationship: Finding the Way Forward" (PDF)
-Remarks by Tami Overby, Vice President, Asia, U.S. Chamber of Commerce

Myanmar's New Foreign Investment Law, Rules and Notification

An Attractive Investment Environment: Myanmar’s Rule of Law Needs

Opportunities in Myanmar Energy Resources Development Programs

Myanmar's New Foreign Investment Law, Rules and Notification with Respect to Energy Matters

Information Technology Innovation

Information Technology: Propelling Economic Growth

Building a Viable Financial Sector

Myanmar: Insurance, Society and Economy

Banking and Financial Reforms in Myanmar

Myanmar in ASEAN: Working Toward the ASEAN Economic Community
 

Additional Presentations from U.S. Chamber Business Delegation:

Oil and Gas Sector in Myanmar (PowerPoint)
-Presentation by Myanmar Ministry of Energy

Present and Future Power Sector Development in Myanmar (PowerPoint)
-Presentation by Myanmar Ministry of Electric Power

Brief on Trade Related Matters of Myanmar (PowerPoint)
-Presentation by Myanmar Department of Trade
 

Other Resources for Investing in Myanmar:

2012 Myanmar Foreign Investment Law in English (PDF)

Myanmar's New Foreign Investment Law, Rules and Notification (PDF)
-by James Finch, Partner, DFDL

Invitation for proposal for the upgrading of a laboratory at a petrochemical facility in Myanmar (PDF)

Myanmar Rule of Law Assessment (PDF)
-by DLA Piper New Perimeter, Perseus Strategies and the Jacob Blaustein Institute for Human Rights
 

Related press coverage:

CNBC, March 5, 2013
US Firms Navigate Around Myanmar Sanctions
Tami Overby, Asia Vice President of the U.S. Chamber of Commerce, outlines the challenges for American firms that plan to set up businesses in Myanmar.
Watch Video

The Irrawaddy, February 28, 2013
US Business Faces Confused Signals from Washington on Burma

The Myanmar Times, February 26, 2013
US Asks for Support in Sanctions Era Shift

The Wall Street Journal, February 25, 2013
U.S. Firms Feel Left Behind in Myanmar

Myanmar Local Press Coverage:

"Speaker of Pyithu Hluttaw (Lower House of Parliament) Thura U Shwe Mann
shakes hands with Vice President for Asia of US Chamber of Commerce
Ms. Tami Overby.--MNA"

U.S. Chamber Vice President Tami Overby and the U.S. Chamber Business
Delegation attend a session of Parliament in Naypyitaw, Myanmar.

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Past Press Releases

2012

Nov 19 - Myanmar: In From the Cold
ChamberPost by John Goyer, Senior Director, Southeast Asia
 

Sep 20 - U.S. Industry Groups Applaud Passage of Bill to Allow Development Lending to Myanmar
Legislation Will Spur Investment and Economic Growth
 
Aug 29 - U.S. Businesses Positive About Opportunities in ASEAN
Businesses Applaud U.S. Government’s Decision to Suspend Sanctions on Myanmar