Business lobby calls for U.S. to drop sanctions on Myanmar

WASHINGTON — The U.S. business lobby says it is high time to drop the remaining U.S. sanctions on Myanmar, but human rights activists and U.S. lawmakers say not so fast. Former political prisoner Aung San Suu Kyi is now running the government after winning elections. Still, the military continues to wield considerable power. That poses […]

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 […]

Yangon chief minister vows corruption fight

The new chief minister for Yangon region U Phyo Min Thein has promised that his government will clean up corruption over its five-year term. U Phyo Min Thein, a National League for Democracy MP for Hlegu, was nominated yesterday by President-elect U Htin Kyaw and approved by the Yangon Region Hluttaw without objection. Speaking to […]

Thein Sein: the quiet junta insider who opened Myanmar to the world

When he became Myanmar’s leader five years ago Thein Sein was dismissed as a junta stooge – but as he prepares to hand power to Aung San Suu Kyi’s government, the taciturn ex-general can also claim credit for steering a peaceful political transition that has stunned the world. President Thein Sein, who spent almost half […]

MIC approves 31 investments in January

The Myanmar Investment Commission approved 31 new local and foreign projects in January, mostly in the real estate and garments sectors, according to figures published by the Directorate of Investment and Company Administration. Of these, 15 were foreign, adding to the 138 international investments approved by the MIC since the start of this fiscal year. […]

Myanmar president hails ‘triumph’ of democratic transition

President Thein Sein hailed the “triumph” of Myanmar’s transition of power Thursday, addressing a military-dominated parliament for the final time before a handover to Aung San Suu Kyi’s pro-democracy movement. The Southeast Asian nation, choked for decades under junta rule, is on the cusp of a remarkable political transition after Suu Kyi’s National League for […]

Myanmar current gov’t allows 38 offshore blocks for gas exploration tender

Myanmar’s current term of government has allowed 38 offshore blocks for tender for gas exploration, leaving 13 blocks for further undertaking, an official report said Wednesday. There have been a total of 51 offshore blocks reserved for gas exploration tender. In addition, there are also 53 onshore blocks designated for such undertaking. According to the […]

Mining in Myanmar

Some are calling it “the world’s best up-and-coming mining spot.” And that’s worth noting because this tiny country has already proven itself as a host to massive, world-class mineral deposits — including the largest copper deposit in Southeast Asia. The country I’m talking about is Myanmar. Mining in Myanmar After 50 years of socialist and […]

More foreign investment foreseen in 2016-2017: MIC secretary

More investment from western countries might be seen in the 2016-2017 fiscal, said Aung Naing Oo, the secretary of the Myanmar Investment Commission. Aung Naing Oo spoke to reporters during a forum titled “New Myanmar Beyond 2015: The Need for New Paradigm” at Yangon Economic University on January 11. “More investment from western countries will […]

Foreign investment into lagging agriculture and fisheries sectors urgently needed: exporters

The next government should urgently seek investment in the country’s lagging and underfunded agricultural and fisheries sector, to help halt and reverse the decline in exports, traders said. Of the US$38.18 billion received in foreign investment over the past five years, a bare $208 million has been ploughed into agriculture, according to the Directorate of […]