President of the Republic of the Union of Myanmar U Min Aung Hlaing, currently in India on an official visit, delivered a keynote speech at the Myanmar-India Trade and Investment Conclave at the Taj Mahal Hotel in New Delhi, India, yesterday morning.
On his
arrival at the hotel, the President was welcomed by Patron of the Republic of
the Union of Myanmar Federation of Chambers of Commerce and Industry U Aung Ko
Win, President U Aye Win and members, Chairman of the Myanmar-India Friendship
Association and officials, Secretary-General Mr Anant Swarup Ji of the
Federation of Indian Chambers of Commerce & Industry (FICCI) and Senior
Advisor Dr Vikramjit Singh Sahney Ji to the Confederation of Indian Industry
(CII).
Speaking on
the occasion, the President delivered a keynote speech. He said: This visit is
intended to strengthen India’s Act East Policy and Neighbourhood First Policy
further, while also enhancing Myanmar’s efforts to accelerate regional economic
cooperation. It was noted that a new government, elected by the people through
democratic means, was formed in Myanmar on 10 April 2026. Under the new
administration, priority is being given to advancing strategic economic
cooperation with partner countries to achieve sustainable and balanced
development.
At present,
India has 39 investment projects in Myanmar, totalling US$782.385 million,
making it the 11th largest investor in the country. Indian investors are
engaged in Myanmar’s industrial sector, oil and natural gas, transport and
communications, services, as well as agriculture, livestock, and fisheries
sectors.
Myanmar is an
agriculture-based country with favourable climatic conditions, a sufficient
labour force, and an adequate extent of arable land for carrying out
agricultural activities. It is also the country with the largest area of
farmland in Southeast Asia. Therefore, policies are being implemented to
utilize these strong agricultural and livestock foundations in order to develop
Myanmar into a country that primarily produces food.
India is a
global leader in the production of generic medicines, and it is noted that
approximately 60 per cent of Myanmar’s pharmaceutical needs are imported from
India. Therefore, as part of bilateral cooperation, there are many investment
opportunities in pharmaceutical manufacturing.
MSME
enterprises serve as a driving force of Myanmar’s economy, and it is also
acknowledged that India has made significant advancements in vocational skills
and technological development. Through the establishment of industrial
clusters, the transfer of technology, and the joint opening of vocational
training institutions, both countries can create a mutually beneficial value
chain.
The Kaladan
Multi-Modal Transit Transport Project and the India-Myanmar-Thailand Trilateral
Highway are key initiatives that will not only facilitate bilateral trade but
also open up the ASEAN-India economic corridor. Therefore, there are
significant investment opportunities in special economic zones (SEZs) and
logistics hubs along these economic corridors.
Myanmar has
identified several types of investment activities as strategically important to
the State, including information and communication technology services,
pharmaceutical manufacturing, and energy-related infrastructure. Priority
investment sectors also include agriculture, livestock, and agro-based
manufacturing industries, renewable energy production, as well as education and
healthcare services, which are being actively promoted and invited for
investment.
In addition,
in line with national needs, special priority will be provided to partner
investors engaging in the production of fertilizers, cement, and steel, the
manufacture of electric vehicles to improve public transportation, the
production of value-added agricultural and livestock products, the
manufacturing of pharmaceuticals and medical equipment, and the production of
edible oil. These investors will be facilitated with priority services and
special assistance.
In addition,
efforts are being made to promote and develop value-added furniture
manufacturing based on locally produced timber, as well as the production of
veneer, plywood, sawn timber, and processed wood products. Support is also
being provided for the development of industries producing high-quality cotton,
advanced rubber products, and rubber-based furniture items.
Myanmar is
currently undertaking a digital transformation process, and the Myanmar Digital
Roadmap 2030 is being developed. In addition, a project covering an area of
approximately 10,000 acres in PyinOoLwin Township, Mandalay Region, is being
implemented as the Yadanabon Cyber City (Yadanabon New City) project.
Therefore, there are strong investment opportunities for Indian entrepreneurs,
who have already achieved success in the IT sector to invest in the IT and
digital service industries in Myanmar.
In order to
promote trade between Myanmar and India and to ensure faster and smoother
movement of goods, a direct Rupee-Kyat payment system was introduced in 2024.
This system operates through the use of Special Rupee Vostro Accounts (SRVA)
and enables direct settlement between the two national currencies, Rupee and
Kyat. As it allows transactions to be conducted at lower cost, it is beneficial
not only for border trade but also for regular trade activities. Therefore, it
is expected to significantly support not only bilateral trade but also broader
economic cooperation between the two countries.
Efforts are
being made to facilitate and streamline investment activities. The Trademark
Law, the Industrial Design Law, and the Copyright Law for literature and
artistic works have been fully in effect and operational since 2024, in order
to provide protection for investments.
Therefore, in
order to further enhance Myanmar-India investment cooperation, Indian
entrepreneurs are specially invited to invest in Myanmar in sectors such as
agriculture, livestock-based manufacturing, pharmaceutical production, textile
and garment industries, technology and digital services, as well as education
and healthcare services.
In inviting
investments, emphasis is placed not only on economic profitability but also on
ensuring a sustainable ecosystem and balanced economic development (ecology and
economy balancing). Environmentally responsible investments will be fully
protected and safeguarded. Accordingly, support will be provided to ensure the
smooth facilitation of Indian investors operating in Myanmar, while also
prioritizing the expansion of bilateral trade and investment between the two
countries.
The President
invited that India’s advanced technology and capital be effectively combined
with Myanmar’s abundant natural resources, strategic geographic location, and
young labour force, so that value-added products and service industries can be
invested in and developed within Myanmar.
The FICCI
Secretary-General and the Senior Advisor to CII said that as the two countries
share a common border, there is significant potential to further expand
cooperation in sectors such as trade, connectivity, infrastructure, health,
agriculture, energy, digital collaboration, capacity building, and border
region development. Economic cooperation between the two countries has been
growing annually, and there are ample opportunities to further increase trade
and investment.
Myanmar and
India are in a strong position to enhance mutual benefits by strengthening
cooperation in highly promising sectors. Such engagements and dialogues are
seen as effective ways to translate strategic objectives into practical
outcomes. It is believed that today’s conclave will lead to stronger economic
linkages, tangible results, and new opportunities for cooperation.
Indian
entrepreneurs discussed the desire of Indian business entrepreneurs to
cooperate in pharmaceutical manufacturing and the need for support and
encouragement from both governments; the facilitation of smooth currency
exchange and remittance systems in bilateral trade; how Indian agricultural
companies should be invited to promote the development of the agriculture
sector, given Myanmar’s strong agricultural potential; the need to provide
necessary support to Indian IT companies in efforts to develop Myanmar’s
information technology sector; the intention to further expand trade
activities; and cooperation in increasing production, particularly as Myanmar’s
various pulses are of high quality and can help meet global food demand.
Union Ministers stated that the government is implementing measures in accordance with established rules and regulations to ensure smooth currency exchange between the two countries, facilitate trade activities, and collect taxes in line with prescribed procedures. Efforts are also being made to ensure smooth payment systems for trade transactions. Regarding agricultural cooperation, possibilities for joint collaboration include seed production, mung bean cultivation and production, fertilizer manufacturing, and dairy cattle farming. In order to further develop the IT sector, Myanmar is able to provide necessary regulatory relaxations to support cooperation, and at present, investment opportunities are available at Yadanabon Cyber City in PyinOoLwin.
In the
concluding speech, the President said that the Government has adopted a policy
of selling goods in larger quantities with lower profit margins. It is also
noted that if Indian products such as iron and steel, and fertilizers are
produced and sold through investment in Myanmar, such initiatives are welcomed.
Furthermore, trade activities can be further promoted through the Dawei Deep
Sea Port Project.
The formation
of a joint mechanism comprising representatives from both sides to coordinate
efforts and facilitate the smooth conduct of trade and investment activities
between the two countries would help ensure greater efficiency and smoother
implementation.
In order to
develop the IT sector, Myanmar initiated the Yadanabon Cyber City project near
PyinOoLwin in Mandalay Region about 20 years ago. However, the project has been
delayed due to various reasons. Therefore, India is invited to invest in this
project if it wishes to do so.
The
Government continues to firmly pursue the path of a multiparty democratic
system and will also continue to strengthen the economy. Therefore, Indian
entrepreneurs are invited to invest in Myanmar with confidence and trust.
After the
ceremony, the President had a luncheon together with businesspeople from both
countries.
The ceremony
was also attended by officials of the Indian government, the Myanmar Ambassador
to India, the Indian Ambassador to Myanmar, and businesspersons from Myanmar
and India.
MNA/TTA
#TheGlobalNewLightOfMyanmar
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