As part of UOB’s commitment to facilitate cross-border investments in the ASEAN region, colleagues from UOB Yangon branch and UOB China (UOBC) jointly hosted Mr Ning Lian Hui, Vice General Manager of the Shanghai International Gold Exchange (SGEI), and his delegation during their visit to Myanmar on 18 September 2018. Mr Ning and his delegation visited UOB Yangon branch to better understand Myanmar’s market developments in the Gold Exchange.
The visit kicked-off with Mr Danny Loo, Head of Operations and Finance, UOB Yangon branch, presenting on Myanmar’s economic overview. He explained that Myanmar is one of ASEAN’s fastest growing economies especially in the areas of agriculture, forestry, fishing and mining. The manufacturing sector and garments exports are also key areas of Myanmar’s growth.
Mr Loo then shared that the Myanmar Government will be aligning Myanmar’s Gold Exchange’s standards of measurements to the international standard of measuring the weight and purity of gold.
On the second day, delegates visited the Yangon Gold Entrepreneur Association for a breakfast meeting to understand the current gold market in Myanmar and its challenges.
After the breakfast meeting, the delegation visited Eternal Gold Mining Ltd where the Chairman and CEO of Eternal Gold Mining Ltd shared about the company’s experiences in gold mining.
Delegates from the SGEI were also introduced to government representatives from the Central Bank Foreign Exchange Management Department.
