(MENAFN) The European Union (EU)'s possible withdrawal of its Generalized Scheme of Preference (GSP), will not affect the foreign investment movement in Myanmar, the official Global New Light of Myanmar, cited, an investment administration official as affirming, Sunday.
This will be because of the reality that EU countries have never been leading investors in Myanmar's investment field, emphasized U Than Aung Kyaw, deputy director general of the Directorate of Investment and Company Administration (DICA).
EU has granted the GSP since 2013. However, EU Trade Commissioner proclaimed on October 5 that, they will send commission to Myanmar to witness for consideration to cancel GSP out of the Rakhine matter. There are several European investors in Myanmar but their investment mostly go to the oil and gas field, according to DICA.
U Than Aung Kyaw affirmed, the government is discussing to work out a policy if EU cancels the GSP.
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