Myanmar receives World Bank’s Star Reformer Award

Myanmar receives World Bank’s Star Reformer Award

Posted on 26 October 2017

Myanmar’s success in creating a more investment friendly environment has been recognized with the Government of Myanmar receiving the Star Reformers Award at the Investment Competitiveness Forum in Vienna, Austria.

The Award, presented by the World Bank Group to the Myanmar Government, was accepted by U Aung Naing Oo, Director General of the Directorate of Investment and Company Administration (DICA).

The Star Reformers Award was judged on international indicators which have captured reforms undertaken by the Government to implement transformational Investment Policy and Promotion reforms representing a significant shift in the development path of the country; improving the ease of undertaking business, and maximizing potential benefits of foreign direct investment and its spillover effects on domestic economy.

U Aung Naing Oo participated in a panel discussion on “how to operationalise the Investment Reformers Network” – a network of developing countries which received the World Bank-sponsored Awards.

The World Bank Group granted three types of award – the Star Reformers Award, Strong Reformers Award and Aspiring Reformers Award of which the Star Reformers Award is the highest category. This year Myanmar and Ethiopia were awarded the Star Reformers Award.

Mr Aung Naing Oo was interviewed by the media after accepting the Star Reformers Award.

The Investment Competitiveness Forum is being held on 25-27 October, 2017.