US-ABC’s Business Mission in Myanmar to Explore Business Opportunities

KUALA LUMPUR, July 17 (Bernama) -- The US-Asean Business Council (US-ABC) concluded its first ever business mission to Myanmar where it focused on exploring the country's business environment and gathering information on the government's economic programmes. In a statement made to the press, President of the US-ABC Alexander Feldman said that the historic mission was the culmination of years of effort to move toward economic and political reforms by the Myanmar government with close support from Asean, the U.S. government and international business. "We have been very pleased with the developments of the past months which have opened the way for American companies to engage in business in Myanmar,” he said. However, he noted that this was just the beginning of the process and that both sides had much to learn about working together. He further stated that the council continues to work closely with the Myanmar government to build a long term-US-Myanmar business relationship. The delegation comprised over 70 senior executives from 38 leading US companies. During the business mission, council members met with representatives of non-governmental organisations (NGOs) and the civil society to explore ways to invest responsibly in Myanmar. They heard from representatives of programmes on humanitarian needs and also discussed about the processes required for registering NGOs in Myanmar. The delegation also visited Myan Shwe Pi (MSP) Tractors facility in Yangon to learn about their exemplary corporate social responsibility (CSR) programmes that include free engineering apprenticeships which help their local employees to develop skills and continue their education. The MSP is also the authorised dealer for Caterpillar in Myanmar. The US-ABC represents over 100 major US corporations, ranging from those who have been active in Southeast Asia for over 100 years to newcomers looking to expand their presence in one of the world's most dynamic markets. Among the companies which participated in the trip were Chevron, Caterpillar, Abbott, Baker & McKenzie, the Coca-Cola Company and ConocoPhillips. -- BERNAMA