Foreign investment in Myanmar’s power sector reaches 19.6 bln USD as of April

YANGON, May 13 (Xinhua) — Foreign direct investment in Myanmar’s power sector reached 19.6 billion U.S. dollars as of April, accounting for 30.89 percent of the total, according to Myanmar Investment Commission Friday. The power sector stands the second in the country’s foreign investment line-up after oil and gas. U Htein Lwin, permanent secretary of […]

Foreign investment expected to reach US$8 billion this fiscal year

  FOREIGN investment in Myanmar is expected to reach US$8 billion in the 2016-2017 fiscal year, said U ThanAungKyaw, the deputy director-general of the Directorate of Investment and Company Administration (DICA). Foreign investment reached $9.5 billion last fiscal year, according to figures from DICA. The oil and natural gas sector stood first in attracting foreign […]

Rush before power transfer pushes Myanmar FDI to record $9 billion

  Foreign direct investment (FDI) in Myanmar in the fiscal year ending in March grew to nearly $9 billion, a government official said on Monday, after a rush of last-minute approvals before the handover of power to Aung San Suu Kyi’s administration. The figure, a record high, rose by about $1 billion compared with the […]

Telenor CEO: Warned Myanmar on telco tax

  Norwegian multinational Telenor is cautious about the impact of a new commercial tax planned by Myanmar on the country’s millions of mobile users, its chief executive said Friday. Myanmar, one of the world’s hottest frontier markets, is launching a 5 percent tax for mobile usage effective Friday, a move that comes amid fierce competition […]

Myanmar’s Economic Growth to Recover, Inflation to Moderate in FY2016 – ADB

Myanmar’s positive political developments and structural reform programs will help foster economic growth and investment, says a new Asian Development Bank (ADB) report launched today. In its Asian Development Outlook (ADO) 2016, ADB forecasts Myanmar’s economic growth to recover to 8.4% in fiscal year 2016 (ending 31 March 2017). The country’s economic growth eased to […]

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 […]

Foreign assistance vital in boosting energy in Myanmar

FINANCIAL and technical assistance from international governments and institutions will be as important as foreign direct investment (FDI) in order to boost Myanmar’s power sector development, an energy official has said. Win Khaing, a member of National Energy Management Committee (NEMC) and president of Myanmar Engineering Society, said at the 6th Myanmar Oil and Gas […]

Fuel sector tops foreign investment list

The oil and gas, transport and telecommunications sectors topped the foreign investor list, with US$4.9 billion invested by the end of December during this financial year. Oil and gas came top with US$2 billion, followed by transport and telecommunications. Twenty countries, including Singapore and China, invested in these sectors. Last financial year, the total foreign […]

Yoma’s Pun Seeks New Myanmar Stock Exchange’s First Listing

First Myanmar Investment Co., a conglomerate controlled by businessman Serge Pun, is aiming to be the first publicly traded company on the Myanmar stock exchange. Pun, who is also chairman of Singapore-listed developer Yoma Strategic Holdings Ltd., said in an interview that First Myanmar doesn’t plan to sell any new shares. The company, which has […]

Back-Alley Computer Geeks Are Hidden Winners of Myanmar Election

In a run-down building on a trash-strewn side street of oily vehicle repair shops and steamy noodle vendors, a group of 20-something software geeks are hunched over laptops in a white and red open-plan office, working on projects for everything from a private-jet operator to a mobile-phone network. “There’s just enormous, enormous amounts of opportunities […]