After Foreign Minister Vivian Balakrishnan’s trip to Naypyitaw, the country of Singapore is beginning to consider the benefits of an investment treaty with Myanmar. This type of treaty could be quite beneficial for foreign investors that are interested in getting a taste of security, a strong policy, and assurance for their investments. Dr. Balakrishnan also stated that it can help to speed up the process of foreign investment between the two countries. Both the Myanmar State Counsellor and Dr. Balakrishnan addressed the public with a press conference to discuss this joint venture.
The main thing to remember is that although this sounds promising, the idea of the investment treaty is in its beginning stages. It is something that Myanmar is accustomed to as they also have bilateral investing treaties with countries including India and China.
Dr. Balakrishnan’s trip was to celebrate the 50th anniversary of Myanmar deciding to partake in bilateral relations with other countries. Both of the ministers discussed other important issues such as improving air transportation between each other, improving trade and investment, and increasing tourism opportunities. Later in the day, Dr. Balakrishnan met with Senior General Min Aung Hlaing, the commander in chief for the Myanmar armed forces. He also met with Shwe Mann, the Lower House Speaker.
Singapore received the title of the second largest investing country in Myanmar, falling just behind China. As one of their biggest trading partners, Singapore has also worked with Naypyitaw to help skilled workers. This initiative offers vocational training for people that are interested in partaking in skilled trades to help boost the Asean economy.
Both representatives agreed that there are several things that they appreciate about one another and a variety of things that they can learn from each other. The main benefit that Myanmar wishes to receive from Singapore is the ability to learn about sustaining a multiracial, multi-religious, and multi-ethnic community. As well as learning from the strategic decisions that are responsible for the growth of Singapore.
The Myanmar government was invited to a dinner hosted by Dr. Balakrishnan and Ms Suu Kyi was the guest of honor. There is a trip set for Prime Minister Lee Hsien Loong to visit Myanmar sometime in June to help headline the launch of the first Singapore-Myanmar Vocational Training Institute. This leaves some room for speculation as to whether the two countries will consider their talks about a bilateral investment agreement.
Between the conversations that were had and the information that Myanmar and Singapore learned from each other, Dr. Balakrishnan believes that they solidified a strong connection pertaining to ensuring that both countries succeed at all costs. Over the past 50 years the relationship between the two have grown even stronger, and so a bilateral investment treaty wouldn’t be falling too far behind. With this union, both Myanmar and Singapore will have the opportunity to develop an even firmer working relationship. With a bilateral investment treaty, their working relationship will surely prove to be mutually beneficial for residents and different types of business owners alike.
About the Author:
Morris Edwards is a content writer at Singapore Company Incorporation Consultants Pte Ltd, who loves to learn and write about Business in Asia and Singapore Company Formation
How to Combine Traditional and Modern Furniture With Style
Are you in love with both traditional and modern furniture styles? Do you feel like you can’t decide between those...
How to Organize Your Garage
Do you have so much stuff in your garage, your car is left out in the cold? Keep reading. Your...
Tips On Preventing Accidents In The Workplace and Keep Your Employees Safe
Preventing accidents in the workplace is both the moral and ethical responsibility of every employer. Knowing that there’s a safety...
4 Surprising Ways SaaS Can Be A Game Changer For Small Business
The World Wide Web will never run out of tips and strategies on how to grow your business. These days,...
Understanding SaaS, PaaS, IaaS Prior to Selecting One For Your Business
Summary: Cloud Computing is rising at a faster pace, and it’s crucially important for organizations to move to the Cloud...
5 Tips to Avoid Federal Tax Penalty For Taxpayers
When you are undergoing a tax issue, then it is vital to have knowledge of what are you up against...
Spy App For Android A Tool For Keeping Workplace
Dealing with routine matters has been a lot easier and stress-free thanks to modern technology. Want to order food, use...
How to Create A Backyard Zen Oasis
The lifestyle of the modern era usually depletes one’s energy by the time they get home from work. Whether or...
Mistakes You Need to Avoid When Preparing Your CV
Writing a CV can be hard. You have to somehow condense all your experience into 1 or 2 A4 pages....
Home Decor Trends For 2021: What You Can Expect
This year, the Covid pandemic has had a huge impact on many different industries and sectors and one which has...
5 Ways to Protect Your Teeth This Christmas
Christmas is just around the corner and the preparations are well underway for the festive day, even if it is...
How to Create A Referral Marketing Program In 6 Easy Steps
You may have heard of the benefits of a referral program. Besides helping you attract more traffic to your website,...
5 Important Web Design Considerations to Make For Better SEO
Ever since the birth of search engines, practices in optimising websites for better search rankings have changed considerably. Where it...
4 Reasons For Your Teeth Becoming Sensitive
Having sensitive teeth can be a common issue for many, but it can also be a sign that you have...
How To Keep Your Business Clean & Sanitised
If your business offers any kind of public-facing services, then you will likely be thinking a lot more about the...
- Tech6 years ago
Creating An e-Commerce Website
- Tech6 years ago
Design Template Guidelines For Mobile Apps
- Business5 years ago
The Key Types Of Brochure Printing Services
- Travel9 years ago
Who Else Wants Also Nfl Hat
- General6 years ago
Kobe Bryant With His Unique Nba Jerseys
- Tech7 years ago
Why Small Businesses Can't Ignore Mobile Technology
- Tech6 years ago
Climb Google Using These Checklists
- Health7 years ago
Health Supplements For Sports Activities Nutrition