UK expertise is seen as particularly vital for Myanmar to develop a strong financial services sector and to build a competitive education system which can prepare the country’s young population for the challenges ahead.

The Department of International Trade (DIT) organised an outward mission to the UK in March, led by U Kyaw Myo, deputy transport and communications minister. The delegation included a dozen officials and 27 business representatives, who met with over 150 British businesses to explore potential commercial opportunities.

In a wide-ranging interview, U Aung Naing Oo, director general of the Directorate of Investment and Company Administration (DICA), spoke to the Myanmar Times about bilateral trade and investment opportunities between the two countries and the government’s latest priorities. He also responded to criticisms and concerns among the private sector regarding the slow pace of reforms.

British trade and investment interest mainly focuses on education, energy, financial services and infrastructure in Myanmar. “Infrastructure is one of the key areas for British investors to come and invest,” U Aung Naing Oo said. The delegation met policymakers and consultants in London and visited one of the UK’s airports to look at how domestic airports can be upgraded to cater for further demand.

Education is another sector which presents immediate opportunities for British businesses. On 20 April 2018, the Myanmar Investment Commission (MIC) announced it will permit foreigners to make full capital investments in private schools across the country. Foreigners can hence fully own and operate private schools teaching a curriculum prescribed by the education ministry or an international curriculum. British service providers, as well as those from other countries, are allowed to invest in basic education schools, technical, vocational and training schools, higher education schools, subject-based schools and private schools.