New Investment Law Hailed as ‘Essential’ to Development

Business leaders have welcomed the approval of a new investment law that they hope will cut red tape and bring an end to concerns that foreign and local businesses are being treated differently. The Upper House approved the Myanmar Investment Law without amendments last week, and the legislation is due to come into effect in […]

Myanmar Investment Commission Allows 14 Foreign Firms to Invest US$ 278 Million In Myanmar

THE Myanmar Investment Commission decided to permit 14 foreign companies to invest US$ 278.958 million during its meetings on 23 September. The firms include 13 manufacturing firms and one transportation company. Their ventures will create 8,895 job opportunities, according to the Directorate of Investment and Companies Registration. In addition, the commission permitted the investment of […]

Aeon brings Japanese sensibilities to Myanmar food shopping

YANGON — Japanese supermarket giant Aeon has become the first foreign retailer to enter Myanmar since the 2011 transition to civilian rule, a development that could herald change in a retail industry still dominated by traditional markets. Aeon signage, a familiar sight to Japanese consumers, made its Myanmar debut Friday in a largely middle-class area along a major […]

Long shall Yangon’s crap foreign restaurant boom continue

It the beginning of last year, Yangon had around 250 restaurants listed on TripAdvisor. Today the number has more than doubled, yet upwards of 100 of those – largely those offering regional or Western cuisine – have shuttered permanently. Some were too ahead of their time, opening to rave reviews but finding themselves without a […]

UK aid program seeks to make it easier to do business in Myanmar

The United Kingdom’s development arm announced a £25 million (US$32.5 million) aid program yesterday geared toward making it easier to do business in Myanmar and boosting growth in key sectors of the economy, like agriculture and garment manufacturing. The UK and Australia are currently working with the Directorate of Investment and Company Administration and the […]

MIC discusses nationwide extension of industrial zones

The Myanmar Investment Commission is discussing the nationwide extension of industrial zones with region and state governments and will invite new investors and developers, said Aung Naing Oo, the director-general of the Directorate of Investment and Company Administration. The MIC has already received proposals from companies in Hong Kong and South Korea for the establishment […]

No need to seek approval from MIC for investment except for businesses with environmental impact

Investment businesses are no longer required to seek approval from Myanmar Investment Commission (MIC) apart from the businesses needing environmental impact assessments. Those investment businesses can apply for registration at the Directorate of Investment and Company Administration (DICA) branches in the regions and states concerned. Currently, more DICA branches will be opened in Kayin State, […]

China stands as largest investor in Myanmar’s power sector

China has topped the foreign investors line-up of power sector of Myanmar for four months of this fiscal year 2016-2017, official media reported Thursday. China invested in five projects in electric sector worth with 1.3 billion US dollars, followed by Singapore with 570 million US dollars in four projects, according to an official of the […]

China and Singapore top investors in electric power projects

China and Singapore made the largest investment in nine electric power projects as of July in this fiscal year 2016-2017, it is learnt from the Directorate of Investment and Company Administration (DICA). China invested US$1.3billion into five projects in the electric sector. Meanwhile, Singapore invested in  four projects with an investment of US$570million, said an […]

MIC approves new projects worth $100 million

The Myanmar Investment Commission (MIC) has approved nine new projects in its fourth round of licensing since the new government took power. In the meeting, held last week, the commission approved four foreign investments worth US$62 million and five local investments worth more than K32 billion, according to Directorate of Investment and Company Administration (DICA) […]