September 28: A seminar aimed at promoting foreign investment in Burma was held in Singapore today.

Serge Pun, the Chairman of the SPA Group which operates banking, real estate and manufacturing services with more than 3500 employees in Burma was scheduled to give a speech at the seminar titled “Business & Investment Opportunities Seminar- Myanmar” at the Bungis junction Office Tower.

An invitation letter to the seminar said Burma’s changing economy and investment climate meant Singaporean businessmen would have the opportunity to invest in the oil and gas, trading and services sectors.

Singapore is one of the top foreign investors in Burma - in 2004, Burma and Singapore recorded bilateral trade accounts of $1.2 billion Singapore dollars.

While the United States and Britain impose sanctions on Burma, according to the Ministry of National Planning and Development’s annual report foreign investment in the country rose more than 34 percent in 2004.

However these are official Burmese government figures and are considered by many to be unreliable.