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 […]

Govt’s Foreign Investment Policy to be Released this Month

RANGOON – Foreign investment policy will be announced this month after President Htin Kyaw passes a revamped Myanmar Investment Law, according to secretary of the Myanmar Investment Commission (MIC) U Aung Naing Oo. Burma’s business community has been growing impatient waiting for details of foreign investment policy after criticizing the government’s 12-part overall economic policy […]

Commission Approves 13 Foreign Investment Proposals During New Govt Term

RANGOON — The newly re-formed Myanmar Investment Commission (MIC) approved 13 foreign investment proposals and nine local investments over the last two months, a figure significantly lower than the same period in 2015, Aung Naing Oo, secretary of the MIC, told The Irrawaddy. Since the MIC was re-staffed in early June under the chairmanship of Kyaw Win, […]

Myanmar plastics industry bound by lack of CMP licenses

Yangon, June 24 – the Myanmar Plastic Industries Association (MPIA) has voiced the Myanmar plastics industry would benefit from the issuing of Cut-Make-Packaging (CMP) licenses in the manner as has been supplied for the country’s garment factory industry. Myanmar plastic enterprises are currently confined to distribution solely within the domestic market. If domestically produce plastics […]

Korean Investment in Burma Likely to Increase

RANGOON — After a delegation from the well-known South Korean Daewoo Group of Companies met with Burma’s outgoing president on Tuesday, there is speculation that the country plans to increase investment in Burma. During the meeting between Thein Sein and Daewoo CEO Young-Sang Kim, the topics of discussion included investment in Burma’s hotels, energy, mining […]

Burmese Kyat Weakens in Light of Trade Deficit, Shortfall of USD

RANGOON — A shortfall of US currency and a growing trade deficit has weakened the Burmese kyat, bankers and businesspeople said, warning that demand for the dollar has pushed the country’s limited foreign currency into the hands of black market traders. Burma’s Central Bank has set the country’s exchange rate at 1,082 kyats to the […]