Sam­path Bank en­gages Sri Lankan en­ter­prises on do­ing busi­ness in Myan­mar

Daily Mirror (Sri Lanka) - - FINANCE -

With a growing in­ter­est in the Myan­mar mar­ket amongst Sri Lankan busi­nesses, Sam­path Bank PLC hosted an in­for­ma­tive sem­i­nar on do­ing busi­ness in Myan­mar at the Cin­na­mon Grand Colombo, re­cently.

Han Thu, Am­bas­sador of Myan­mar to Sri Lanka was the chief guest of the event.

De­liv­er­ing the key note ad­dress, Nanda Fer­nando, Man­ag­ing Direc­tor, Sam­path Bank PLC, gave the au­di­ence com­pris­ing of over 75 se­nior rep­re­sen­ta­tives from lead­ing Sri Lankan en­ter­prises a com­pre­hen­sive view of do­ing busi­ness in Myan­mar.

Mar­i­ano Suariz, Part­ner, Thanl­win Le­gal, Myan­mar ap­prised them about the pre­vail­ing laws of Myan­mar in­clud­ing amend­ments that have been in­tro­duced to make the coun­try an in­vestor friendly des­ti­na­tion.

The event also in­cluded a panel dis­cus­sion on ed­u­cat­ing and rais­ing aware­ness about the mar­ket with Mar­i­ano Suariz, Nanda Fer­nando, mem­bers of the Bank’s cor­po­rate man­age­ment team, and Lakkhana Gu­naratne, Man­ager, Myan­mar Rep­re­sen­ta­tive Of­fice, Sam­path Bank PLC as the panelists.

The event is part of Sam­path Bank’s on­go­ing ef­forts to sup­port Sri Lankan busi­nesses with cur­rent or planned in­vest­ments in Myan­mar, a mar­ket where the Bank has been op­er­at­ing a rep­re­sen­ta­tive of­fice since Oc­to­ber 2015. The bank’s For­eign Cur­rency Bank­ing Unit (FCBU) helps fa­cil­i­tate fi­nances for these busi­ness en­ti­ties and also pro­vides fi­nan­cial ser­vices to other lo­cal and in­ter­na­tional en­ter­prises. In 2017, Sam­path Bank con­cluded a loan trans­ac­tion with Yan­gon based ho­tel devel­oper Fam­ily Busi­ness Group Ho­tel Lim­ited (FBGHL), cre­at­ing his­tory as the first Sri Lankan bank to have closed such a large value trans­ac­tion in Myan­mar.

Work­ing to­gether with the FCBU, the rep­re­sen­ta­tive of­fice plays an ad­vi­sory role too, of­fer­ing as­sis­tance with reg­u­la­tory and le­gal clear­ances, from in­cor­po­ra­tion to growing the busi­ness, for ex­ist­ing and po­ten­tial Sri Lankan in­vestors in the mar­ket. The team also helps con­nect busi­ness peo­ple from both coun­tries with the aim of fa­cil­i­tat­ing mu­tu­ally ben­e­fi­cial re­la­tion­ships.

From left: Ay­o­d­hya Id­dawela Perera, Deputy Gen­eral Man­ager - Cor­po­rate Bank­ing, Sam­path Bank PLC; Shashi Kan­dambi Jas­sim - Se­niordeputy Gen­eral Man­ager - Cor­po­rate Bank­ing, Sam­path Bank PLC; Mar­i­ano Suariz, Part­ner, Thanl­win­le­gal,myan­mar; Nanda Fer­nando, Man­ag­ing Direc­tor, Sam­path Bank PLC and Lakkhanau­naratne, Man­ager, Myan­mar Rep­re­sen­ta­tive Of­fice, Sam­path Bank PLC

A cross-sec­tion of the au­di­ence

Am­bas­sador Han Thu ad­dress­ing the au­di­ence

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