THE PRESIDENT GOES TO SEOUL
At the invitation of President of the Republic of Korea Mr. Lee Myung-bak,President of the Republic of the Union of Myanmar U Thein Sein
together with delegation members Union Ministers U Wunna Maung Lwin, U Soe Thein,U Tin Naing Thein,U Khin Maung Soe and U Soe Myint,Chief Ministers U Myint Swe,U Ye Myint and U Nyan Lin,Deputy Ministers U Han Sein and Dr. Daw Thein Thein Htay and Departmental Heads left here by air
on 7th Oct to pay a goodwill visit to the Republic of Korea and arrived at
Incheon International Airport in Seoul,the Republic of Korea.
They were welcomed at the airport by Deputy Minister for Foreign Affairs
and Trade of the Republic of Korea ,Head of Protocol Department Mr. BaeJae Hyun, Head of South Asia and Pacific Affairs Mr. Hae Yun Park,Ambassador
of the Republic of Korea to Myanmar Mr. Kim Hae Yong,Myanmar Ambassador
to ROK U Nyunt Hlaing,Military Attache Brig-Gen Myint Hein,personnnel and families of Myanmar Embassy and Military Attache's Office.
The President and delegation members arrived at Lotte Hotel in Seoul on a
motorecade.The President gave a TV interview to Mr. Kim Yong Deok,Politi-
cal and Foreign Affairs correspondent of KBS News Agency of ROK,at the hall of the hotel.-MNA
Vice-President Dr Sai Mauk Kham receives Japanese Guests
Vice-president Dr. Sai Mauk Kham of the Republic of the Union of Myanmar
received a delegation led by Vice Chairman Mr. Masayuki Matsushita of Osaka-
based Kansai Economic Federation (Kankeiren) and Panasonic Company from Japan at the credentials Hall of the Presidential Palace here this evening.
Present at the call together with Vice-President Dr. Sai Mauk Kham were Deputy Ministers U Thant Kyaw,U Htin Aung,U Thein Aung,Dr. Pwint Hsan,Dr.Daw Khin San Yi and officials.
At the call,they cordially discussed matters related to promotion of amity between
Myanmar and Japan,Myanmar's foreign investment law, human resources development for Myanmar citizens and job opportunities,cooperation for emerging
prospects in factory,workshop,agriculture,science and technology sectors. - MNA
China stands to benefit from the incentivec provided in Myanmar's new Investment policies. As explained by a Myanmar trade representative at a recent
investment seminar in Beijing,customs duties for machinery and equipment during a new foreign project's construction period would be waived,and so will income taxes for the first three years. Value added taxes,once astronomically high,has also been dramatically cut with upper limit of 5 %.
In Special Economic Zones foreign companies will get a 5 years tax holiday and
a 50 % reduction in income taxes on exported products,Myanmar now has three economic (shipping) zones at ports under construction.