YANGON, March 7 (Xinhua) -- Myanmar's second largest city of Mandalay in the central part will hold an international trade fair and business forum on March 23 to attract foreign entrepreneurs to invest and do business in the city, according to organizers Thursday.

Scheduled to be held at the Mandalay City Hall, the three-day event is jointly organized by the Ministry of Commerce, the Myanmar Investment Commission (MIC) and the Mandalay Region Chambers of Commerce and Industry.

The event is aimed at boosting investment by matching local and foreign businesses, showing Mandalay region's potential for business and helping small and medium enterprises develop.

At the forum, discussions on the topic "Why Mandalay is Strategically Important to Myanmar" will be held by MIC Secretary U Aung Naing Oo and economist Aung Tun Thet.

Products from Mandalay region and others' and services from international entrepreneurs will be displayed at the forum which include items of consumers' goods, food, sale of condominiums, electronic appliances, motor vehicles, traditional handicrafts, gems and jewelry and banking services.

Meanwhile, Myanmar is also scheduled to hold a regional investment and product fair on western Chin state on March 16-17, aimed at seeking investment for development in the less-developed region.

Under the new Myanmar Investment Law which was introduced on Aug. 1 last year, tax exemption and relief will be granted to investors depending on the development of the regions and states, allowing the investors in far-flung areas to enjoy tax breaks of up to seven years.

Also, investment with capital not exceeding 5 million U.S. dollars can be permitted by regional and states authorities of the Directorate of Investment and Company Administration, according to the law.