UK Export Finance (UKEF) will provide US$300 million in cover for Myanmar, in an effort to help the UK compete with Asian companies currently dominating in the country, Global Trade Review reported on 24 February.
The initiative will support UK exporters working in Myanmar, but will also allow the Myanmar government to borrow directly for deals with some UK content, but not completely UK-based.
The UK is now the fifth-largest player in Myanmar’s emerging foreign direct investment market behind neighbouring countries China, Singapore, Thailand and Hong Kong. The UK has, as of January 2016, invested just over US$4bn in Myanmar since sanctions were removed.