The European Union (EU)'s probable withdrawal of its Generalized Scheme of Preference (GSP) will not impact the foreign investment flow in Myanmar, Xinhua reported.
This will be due to the fact that EU countries have never been leading investors in Myanmar's investment sector, said U Than Aung Kyaw, deputy director general of the Directorate of Investment and Company Administration (DICA).
EU has granted the GSP since 2013. However, EU Trade Commissioner announced on Oct. 5 that they will send a commission to Myanmar to consider to revoking GSP due to the Rakhine issue.
There are some European investors in Myanmar but their investment mainly goes to the oil and gas sector, according to DICA.