Welcome speech by Minister Lim Hng Kiang at the IE Singapore Global Conversations with Myanmar State Counsellor Aung San Suu Kyi

WELCOME SPEECH BY MR LIM HNG KIANG, MINISTER FOR TRADE AND INDUSTRY (TRADE) AT THE IE SINGAPORE GLOBAL CONVERSATIONS WITH MYANMAR STATE COUNSELLOR AUNG SAN SUU KYI AT SHANGRI-LA HOTEL ON WEDNESDAY, 30 NOVEMBER 2016, 3.05PM

Your Excellency Daw Aung San Suu Kyi, State Counsellor

His Excellency Dr Than Myint, Minister of Commerce

His Excellency Kyaw Tin, Minister of State, Foreign Affairs

Distinguished guests,

1.            Good afternoon. Let me first begin by welcoming Daw Aung San Suu Kyi and her distinguished delegation to Singapore. I would like to thank the business leaders for participating in this roundtable. This reflects Singapore companies’ interest in Myanmar.

2.            Myanmar and Singapore enjoy a long-standing and strong bilateral economic relationship. Last year, Singapore was Myanmar’s third largest trading partner. Singapore was also Myanmar’s top foreign investor in its last fiscal year, with investments amounting to US$4.3 billion. We have set up the Joint Ministerial Working Committee (JMWC). This is a platform to drive bilateral economic cooperation between our two countries. I look forward to co-chairing our next meeting in Singapore in April with His Excellency Kyaw Win, Minister for Planning and Finance.

3.            I think we all agree that there is much potential for our economic ties to grow even stronger. As Myanmar’s economy develops, there will be increasing opportunities for Singapore companies to partner Myanmar to contribute to the country’s economic development, particularly in key sectors such as urban infrastructure and environmental solutions like water, power plants and waste management; transport and logistics; and financial services, professional services and the hospitality sector.

4.            The agreement to ease visa requirements between Myanmar and Singapore which takes effect from tomorrow will benefit our business community and tourism sectors, and boost our people-to-people exchanges.  I also hope to see stronger air connectivity between Myanmar and Singapore which will further facilitate the flow of trade and investment.

5.            Today’s roundtable is timely. Since taking office in March this year, the Myanmar government has moved decisively to improve its business environment. The Myanmar government has unveiled its twelve-point economic plan, passed a revised Myanmar Investment Law. Today’s event is a good opportunity for those present to learn first-hand about Myanmar’s economic vision, and to share their views, suggestions and feedback.

6.            Amidst the uncertainties of today’s global environment and the slow traction of global growth, Myanmar is a bright and promising spot in a vibrant Southeast Asia.  We want to work together to convert potential opportunities into tangible win-win partnerships. Clearly, the business community has an important role to play in Myanmar’s growth story and in creating jobs for the Myanmar people.

7.            I would now like to invite Daw Aung San Suu Kyi to deliver her speech. Thank you.