Myanmar ready to give tax holiday to Indonesian investors

Myanmar ready to give tax holiday to Indonesian investors

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Jakarta (ANTARA News) - Myanmar has expressed readiness to give a tax holiday to Indonesian businessmen wishing to invest in that country.

"We are ready to give a tax incentive in the form of a tax holiday and easiness to obtain licenses to Indonesian businessmen," Myanmar`s Head of Investment U Thuang Tun said after meeting with the Indonesian Chambet of Commerce and Industry (Kadin) here on Wednesday.

He said Myanmar has carried out reform in various sectors including politics, law and economy.

"We arecready to give legal certainty, transparancy and certsinty to those wishing to invest in Myanmar," he said.

He said investors could also register online to reduce licensing process.

He said Myanmar has three superiorities for foreign investors with the first its position that connects India and China.

Geographically Myanmar may become the entry gate for foreign invrstors who wish to develop their businesses to those countries.

"The second is the population that numbers 54 million providing a potential market for investors," he said.

The third is the labor cost whch is lower compared to that in other ASEAN member countries and those directly bordering Myanmar, he added.

Reported by Azis Kurmala
Edited by Yoseph Haryadi

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