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 […]

Mandalay Hopes to Woo Foreign Investors

Myanmar Investment Commission (MIC) will hold an investment fair on September 30 in Mandalay region for the first time, in the hopes of attracting more investment in upper Myanmar. “Our main purpose of holding this fair in Mandalay is to increase foreign investment in Mandalay region, and also to promote Mandalay’s small and medium enterprises. […]

Third Japanese megabank opens local branch office

Mizuho Bank opened its Yangon branch office yesterday, becoming the third Japanese megabank with a local branch presence. The firms also signed an agreement with AYA Bank, one of Myanmar’s largest private banks, to cooperate in banking services such as cash management. The new branch is located at Sedona Hotel, with US$100 million in initial […]

Tokyo considers investing in Dawei deep-sea port

The Japanese government has mooted plans to invest in Myanmar’s Dawei deep-sea port project. Thai Foreign Ministry permanent secretary Sihasak Phuangketkeow yesterday accompanied Japan’s deputy-foreign minister Minoru Kiuchi and Japanese ambassador Shigekazu Sato on a courtesy call to Prime Minister Prayut Chan-o-cha at Government House. Speaking after the meeting, government spokesman Yongyuth Mayalarp said the […]

Thailand’s Political Crisis ‘Puts Burma Developments at Risk’

The political crisis gripping Thailand is jeopardizing key economic infrastructure developments and other potential investment in Burma, reports warn. The crisis has all but paralyzed Bangkok government and civil service activity, freezing planned major investments in international railway and road links and petrochemical projects, industry analysts said. It has also effectively put on hold plans […]

Myanmar Thilawa Special Economic Zone to ‘Go Down in History’

Burma’s first special economic zone is set to begin operations next month on a sprawling complex about 25 kilometers south of Rangoon, and Set Aung is playing a major role. As chairman of the Thilawa Special Economic Zone (SEZ) management committee, he has helped oversee preparations to launch the Japanese-backed zone, which is 51 percent […]

Japan Interest in Dawei Industrial Zone Seen as Unlikely

Efforts by the Thai government to attract Japanese investment in a port-industrial complex at Dawei on Burma’s southeast coast are doomed, a prominent regional economist said. “I don’t think the Japanese are at all interested in Dawei. To the extent their name keeps cropping up, I expect it reflects the desire of the zone’s promoters, […]