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Reuters-Hong Kong delegation seeks

Subject: Reuters-Hong Kong delegation seeks Myanmar opportunities 

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Hong Kong delegation seeks Myanmar opportunities=20
06:24 a.m. Dec 17, 1999 Eastern=20
YANGON, Dec 17 (Reuters) - A group of entrepreneurs from Hong Kong led =
by pro-Beijing politician Tsui Sze-Man is seeking investment =
opportunities in timber and real estate in military ruled Myanmar, =
official media reported on Friday.=20

Tsui Sze Man and his delegation met senior officials of the ruling =
military council, including the powerful head of military intelligence =
Lieutenant-General Khin Nyunt, officials said.=20

They also met representatives of the Myanmar chamber of commerce and =
Foreign Minister Win Aung.=20

A chamber official said the delegation showed keen interest in investing =
in timber and real estate during a meeting in Yangon on Thursday.=20

Tsui Sze-Man, an ethnic Chinese businessman and publisher who was born =
in Myanmar, is a member of the Standing Committee of the Chinese =
People's Political and Cultural Conference who has called for greater =
control on the media in Hong Kong.=20

With approved Foreign Direct Investment of $125.32 million for 21 =
projects, Hong Kong ranks 11th on a list of 24 foreign investor =
countries in Myanmar. Most Hong Kong investments in Myanmar are in the =
garment industry.=20

Myanmar is subject to U.S. sanctions because of its human rights records =
and its recent record on securing foreign investment has been dismal.=20

It approved just $29.5 million of foreign direct investment in the =
fiscal year to March, down from $777.4 million a year earlier and $2.8 =
billion the year before that.=20

The visit of the Chinese delegation follows one earlier this month by =
the Federation of Economic Organisations, or Keidanren, Japan's largest =
big-business group.=20

Japanese diplomats and analysts say Japan is concerned about losing =
business and political influence in Myanmar to China.=20

In its most recent report on Myanmar, the World Bank said the country =
needed to improve its rights record, reform its two-tier exchange rate =
system, lift wide-ranging restrictions on private-sector activity and =
reform its inefficient state enterprise sector if it wanted to attract =
more foreign investment.=20





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<DIV><FONT face=3DArial size=3D2><FONT size=3D+1><STRONG>Hong Kong =
delegation seeks=20
Myanmar opportunities</STRONG></FONT> <BR>06:24 a.m. Dec 17, 1999 =
Eastern=20
<P>YANGON, Dec 17 (Reuters) - A group of entrepreneurs from Hong Kong =
led by=20
pro-Beijing politician Tsui Sze-Man is seeking investment opportunities =
in=20
timber and real estate in military ruled Myanmar, official media =
reported on=20
Friday.=20
<P>Tsui Sze Man and his delegation met senior officials of the ruling =
military=20
council, including the powerful head of military intelligence =
Lieutenant-General=20
Khin Nyunt, officials said.=20
<P>They also met representatives of the Myanmar chamber of commerce and =
Foreign=20
Minister Win Aung.=20
<P>A chamber official said the delegation showed keen interest in =
investing in=20
timber and real estate during a meeting in Yangon on Thursday.=20
<P>Tsui Sze-Man, an ethnic Chinese businessman and publisher who was =
born in=20
Myanmar, is a member of the Standing Committee of the Chinese People's =
Political=20
and Cultural Conference who has called for greater control on the media =
in Hong=20
Kong.=20
<P>With approved Foreign Direct Investment of $125.32 million for 21 =
projects,=20
Hong Kong ranks 11th on a list of 24 foreign investor countries in =
Myanmar. Most=20
Hong Kong investments in Myanmar are in the garment industry.=20
<P>Myanmar is subject to U.S. sanctions because of its human rights =
records and=20
its recent record on securing foreign investment has been dismal.=20
<P>It approved just $29.5 million of foreign direct investment in the =
fiscal=20
year to March, down from $777.4 million a year earlier and $2.8 billion =
the year=20
before that.=20
<P>The visit of the Chinese delegation follows one earlier this month by =
the=20
Federation of Economic Organisations, or Keidanren, Japan's largest =
big-business=20
group.=20
<P>Japanese diplomats and analysts say Japan is concerned about losing =
business=20
and political influence in Myanmar to China.=20
<P>In its most recent report on Myanmar, the World Bank said the country =
needed=20
to improve its rights record, reform its two-tier exchange rate system, =
lift=20
wide-ranging restrictions on private-sector activity and reform its =
inefficient=20
state enterprise sector if it wanted to attract more foreign investment. =

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