Fifty-two foreign enterprises approved by investment commission this year

Fifty-two foreign enterprises were established in Myanmar as of mid-October this fiscal year, making investments of US$662.835million, said U Aung Naing Oo, the director-general of the Directorate of Investment and Company Administration (DICA). Myanmar Investment Commission (MIC) approved a total of 14 foreign investment businesses, according to Myanmar Investment Commission Meeting (18/2016) and (19/2016), with […]

Edotco plans $200m investment in Myanmar telecoms

Telecoms tower firm Edotco has officially launched in Myanmar, with the company to give its name to Ooredoo tower provider Myanmar Tower Company. A Yangon man sits in front of a billboard showing the logo of Qatari firm Ooredoo, Edotco’s main customer in Myanmar. Photo: EPAA Yangon man sits in front of a billboard showing […]

World Bank Forecasts Drop in Burma’s Economic Growth

RANGOON — A World Bank report released Monday estimated that Burma’s economic growth for the 2015-16 fiscal year would slow, due in part to recent flooding and a slowdown in new investment. According to the Bank’s latest “East Asia and Pacific Economic Update,” Burma’s economy grew at 8.5 percent in real terms for the 2014-15 […]

Luxembourg invests in Myanmar river cruiser

YANGON – Abercrombie & Kent from Luxembourg has been granted licence to invest in a new river cruiser by the Myanmar Investment Commission on August 15. Luxembourg, which has not invested in Myanmar in 20 years, provided US$ 5.2 million in cruise liner and other business along Chindwin and Ayeyawady rivers, according to Directorate of […]

Big tobacco eyes Myanmar market

A smoky haze greets customers walking into any of Yangon’s tea shops as patrons light up hand-rolled cigarettes known locally as cheroots. Elsewhere in Myanmar’s main city, vendors sell cheap cigarettes smuggled from China to drivers stopped at traffic lights. The pavement is painted red with the spit of people chewing tobacco wrapped in betel […]

Myanmar approves manufacturing and distribution of Nissan cars

Myanmar Investment Commission has approved the manufacturing and distribution of Nissan cars in Myanmar by Tan Chong Motor (Myanmar) Co Ltd on August 15, according to a report from the Ministry of National Planning and Economic Development. Malaysia-based Tan Chong Motor Holdings Bhd (TCMH), the business partner of Japan’s Nissan Motor, has engaged in discussion […]