Foreign investment to grow in Myanmar

Myanmar’s Directorate of Investment and Company Administration has granted 10 more foreign investors to trade in Myanmar. The announcement on June 21 includes six “Foreign Direct Investment” organisations, including the United States-based Colgate-Palmolive conglomerate and four garment manufacturers: Fu Yuen Garment Company from Macau, Eslite Garment Company and Polar North Garment Company from Taiwan, and […]

Thilawa SEZ Construction Permit by July

Construction permits for Thilawa Special Economic Zone will be granted by July, U Set Aung, chairman of Thilawa SEZ Management Committee, said. Most of the countries seeking permit are from Asia, he added. A total of 45 companies from 11 countries have currently applied for permits for the 394-hectare (960 acres) Class A area, which […]

Puma pounces on Thilawa port

The firm selected to build Thilawa SEZ harbour and oil tanks has applied to the Myanmar Investment Commission, expecting to receive its license in the next few months, Puma chief operations officer Robert Jones said. Work on the project is set to begin shortly after receiving the licence. It is 80 percent owned by Puma […]

Hotels rush to grab a piece of Myanmar market

YANGON- 300,000 visitors in 2010, one million tourists in 2012, two million last year and most probably three million in 2014. By adding a million foreign visitors, the country is in desperate need for more accommodation for visitors. The Myanmar Investment Commission granted last year permission for about $US2 billion of investment into hotels and […]

Nissan to invest more than US$ 200 million in Myanmar

YANGON—Nissan will invest more than US$ 200 million (Ks 197.4 billion) for an auto factory construction project to be built on 100 acres of land in the Bago Region, said Aye Tun from the United Diamond Motor Company (UDMC). The e-garage subsidiary of Malaysia-based Tan Chong Group, which is manufacturing and distributing Nissan brands, had […]

Ooredoo, Telenor Finally Set to Get Myanmar Telecoms Licenses

YANGON — Qatar’s Ooredoo can begin rolling out a telecommunications network in Myanmar after its license is formally awarded this week, a senior government official said on Wednesday. Myanmar announced in June that Ooredoo and Norway’s Telenor Group had won licenses after a hotly contested bidding process to develop networks in one of the world’s […]

MIC allows over 100 foreign investment businesses this year

Myanmar Investment Commission (MIC) has granted permission for more than 100 foreign investment businesses in this year, including beer and cigarette makers. For the period of January to December 19, MIC said it granted permission for 118 foreign investment businesses and joint ventures to operate in the country. Some of them included international big names […]

Lotte Chilsung to sell drink products in Myanmar

YANGON – South Korea-based Lotte Chilsung will distribute and sell soft drink products in partnership with US-based PEPSICO, according to the Directorate of Investment and Companies Administration (DICA). The company applied for permission to open a branch office for distributing and selling its products in Myanmar. The Lotte Chilsung Beverages is one of Asia’s largest […]

UK’s Prudential re-enters Myanmar

YANGON—Prudential plc, the UK-based international financial services group, announced yesterday that it has been awarded a licence to establish a representative office in the country’s commercial and industrial hub. The Directorate of Investment and Company Administration (DICA) on October 29 granted Prudential the licence to open a representative office. The office, which will be headed […]