Myanmar's membership in MIGA means that direct foreign investment into the country is eligible for the agency's guarantees. These protect investments against the risks of transfer restriction, expropriation, and breach of contract, non-honouring of financial obligations, and war and civil disturbance.
Investors from Myanmar going into other MIGA member countries may also receive coverage.
Guarantees
"If Myanmar investors venture into another country where they are not comfortable with these non-commercial risks, MIGA could issue guarantees to benefit Myanmar investors," Lu said.
MIGA support could encourage more foreign interests to consider investing in Myanmar's banking sector, he said.
"Foreign banks could also utilize MIGA guarantees to secure their funding to set up subsidiaries in Myanmar."