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 […]

Myanmar Economy Can Grow 8.5 Percent This Year: IMF

YANGON — Myanmar’s economy should grow 8.5 percent during the current fiscal year, higher than earlier forecast thanks mainly to rising gas production and investment, the International Monetary Fund said on Tuesday. In January, the IMF predicted that Myanmar would have 7.7 percent growth during the fiscal year that ends March 2015. The fund left […]

Yangon hotel market continues to boom

The social and economic reforms that began in Myanmar in 2011 have allowed tourism to flourish in the country. In the former capital city and still the commercial hub, Yangon, international arrivals grew 46% from 550,000 in 2012 to just over 800,000 in 2013.  The number of arrivals in Yangon remains relatively small compared with […]