Ethnic Chinese entrepreneurs from around the world gather in Yangon for conference on economic cooperation

ETHNIC CHINESE ENTREPRENEURSFOCUS ON MYAN

Ethnic Chinese entrepreneurs from around the world gather in Yangon for conference on economic cooperation

On Sept. 17, the 14th World Chinese Entrepreneurs Convention (WCEC) closed in Yangon, Myanmar. More than 2,200 business leaders representing nearly 100 overseas Chinese business groups from all over the world gathered in Yangon. It was a gathering championing win-win economic and trade cooperation, as well as a cultural gathering for friendship and unity among overseas Chinese entrepreneurs.

Under the theme of "An Opening Economy in Myanmar,A New Epoch in History", the participants had in-depth exchanges at several forums focusing on the Belt and Road Initiative, inheritance and innovation of a younger generation of overseas Chinese entrepreneurs, investing in Myanmar and other areas.

Cooperation and Mutual Benefit

In May this year, the Belt and Road Forum for International Cooperation sent a positive signal for international collaboration along the Belt and Road to build a community of shared future for mankind. It is of great significance for both China and the world. Overseas Chinese entrepreneurs have reacted positively and played an active part in pushing forward the construction of the Belt and Road, trying to accomplish the success of their own businesses and contributing to the economic and social development of host countries.

Yu Zhengsheng, Chairman of the National Committee of the Chinese People's Political Consultative Conference(CPPCC), sent a congratulatory message to the conference.

“We are in an era of development, reform and adjustment,” Yu said. “The Belt and Road Initiative has injected new vitality into global development and provided new career opportunities for overseas Chinese. I hope that overseas Chinese entrepreneurs will seize the opportunities and actively integrate into the economic development of the host countries and contribute to the Chinese Dream of great national rejuvenation, as well as the mutual understanding and friendship between the Chinese people and the people all over the world.”

Wang Qinmin, vicechairman of the CPPCC National Committee and chairman of All-China Federation of Industry and Commerce, spoke at the opening ceremony of the conference on the importance of the Belt and Road.

“I encourage you all to participate in the construction of the Belt and Road and seek investment and development opportunities brought by the economic opening up of Myanmar, as well as usher in a new era together with the people of Myanmar,” Wang said.“The Belt and Road Initiative,which follows the principles of extensive consultation, joint contribution and shared benefits,provides a wide platform for inclusive development and offers new opportunities for all countries and businesses. Under the guidance of the Silk Road spirit of peace and cooperation,openness and inclusiveness,mutual learning and mutual benefit, we should join hands to build a community of shared interest and shared future for common development and prosperity.”

Xu Yousheng, vice president of the China Overseas Exchange Association, said that ethnic Chinese business people everywhere are vital to the success of the Belt and Road.

“They will have an increasingly important role to play," Xu said. "There are more than 60 million overseas Chinese around the world,70 percent of whom reside in Southeast Asia. The WCEC aims to build a platform for business cooperation among overseas Chinese entrepreneurs. We have chosen Myanmar as the host country of the conference this year with the expectation of more contribution from overseas Chinese entrepreneurs to the economic development of Myanmar.”

Investing in Myanmar

“The theme of this conference is ‘An Opening Economy in Myanmar, A New Epoch in History’,” said Xu Yousheng at the opening ceremony. “It is being held in Myanmar, a Belt and Road country with a large overseas Chinese population.This will help overseas Chinese entrepreneurs better understand Myanmar and invest and expand business in the country. I believe this conference will have an important and far-reaching impact on the implementation of the Belt and Road Initiative,the development of Myanmar,and the coordinated development of overseas Chinese entrepreneurs.”

Myanmar Vice President U Myint Swe invited investment from China in the Thilawa, Dawei and Kyaukpyu special economic zones, expressing delight at seeing overseas Chinese entrepreneurs in Myanmar linking with business contacts from various countries around the world and contributing to the economic development of Myanmar. He said that Myanmar’s new investment law ensures a level playing field for overseas investors, and that the government is also working hard to ensure reliability and transparency in labor, taxation,public management and administrative sectors.

Noting that Myanmar is participating in the Belt and Road Initiative, U Myint Swe said the strategic location of Myanmar will contribute to the success of the Initiative.

“We hope that this conference has helped with the building of an economic and trade cooperation network between Myanmar and overseas Chinese entrepreneurs,” said Gao Jingchuan, chairperson of the organizing committee of the conference, at the closing ceremony. “This network will effectively connect Myanmar with overseas Chinese entrepreneurs, who will come to invest in Myanmar and contribute to the prosperity of Myanmar.”

In January 2017, China’s Yatai International Holding Group began to invest in the construction of the Myanmar Yatai Dawei Special Economic Zone, which is on the Mekong River in Karen State, next to Myawaddy Economic Zone,Myanmar’s second largest land port. On the other side of the river is Mae Sot, the largest land port of Thailand. This is an important node of the Belt and Road Initiative economic corridor. The total planned area of the Dawei special zone is 12,000 hectares,the first phase being 87 hectares.The estimated total investment is US$15 billion, of which US$500 million is already in place.

An official signing ceremony on the project took place during the conference. Tang Lunkai,Board Chairman of Yatai Group, and Gu Yuxiang, deputy general manager of China MCC International Economic and Trade Corporation, signed the cooperation agreement with representatives of the host country.

“Myanmar today is like a raw piece of jade with immeasurable hidden value,” said U Myint Shwe, General Chair of the WCEC and Chairman of the Myanmar Chinese Chamber of Commerce.“We have good reasons to believe that Myanmar, an important developing country in Southeast Asia, will make things happen in its efforts to invigorate the country’s economy and improve people’s lives. The government has formulated and promulgated preferential policies and regulations for more domestic and foreign enterprises to invest in Myanmar.”

Carrie Lam, chief executive of China's Hong Kong Special Administrative Region, said that Myanmar shows great potential in a keynote speech at the opening ceremony. Lam met with Myanmar's State Counsellor Daw Aung San Suu Kyi, Vice President U Myint Swe and some government ministers the previous day.

“We all agreed to strengthen our cooperation for win-win results,” Lam said. “This is the first time I have attended the WCEC, and I congratulate you on the success of the conference.”

The opening ceremony of the 14th World Chinese Entrepreneurs Convention (WCEC) in Yangon, Myanmar, on Sept. 16, 2017.

12,000

hectares

The total planned area of the Dawei special zone is 12,000 hectares,the first phase being 87 hectares.The estimated total investment is US$15 billion,of which US$500 million is already in place.

Courtesy of Myanmar Golden Phoenix