Addressing Business Challenges: Meeting with UMFCCI
On 6th November, EuroCham Myanmar held a meeting with the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) as part of our continued dialogue to highlight the challenges faced by European businesses and advocate for further improvements in the operational environment.
Representatives from various sectors, including Health, Consumer Goods, Logistics, Construction, Energy, and Agrobusiness Advocacy Groups, discussed the current pressing issues in respective sectors and the facilitation needed to address these operational hurdles promptly. Aligned with the findings of the 12th Business Confidence Survey, the meeting predominantly focused on banking and regulatory matters, specifically concerning import-related challenges such as outbound payments and delays in obtaining import licenses for essential items, as well as the urgent need for action to address inventory shortage for some life-saving medicines.
In addition, participants raised concerns regarding the prevalence of illicit trade and practical actions to tackle them in a collaborative effort. Additionally, EuroCham Myanmar CEO Karina Ufert voiced the importance of swiftly addressing the points and recommendations in the ILOs report on Myanmar, particularly with regard to freedom of association and adequate remuneration in the country’s manufacturing sector.
Representing 157 European businesses, EuroCham Myanmar remains committed to engaging closely with strategic stakeholders for impactful advocacy efforts to enable a conducive and responsible business environment under challenging circumstances.