Keeping the FDI spigot flowing in Myanmar

After emerging from nearly half a century of economic isolation, Myanmar has become an investment darling thanks to reforms launched by military leaders four years ago. The surge in foreign direct investment (FDI) has been substantial despite restrictions remaining in some sectors and uncertainties surrounding the upcoming general election. Even though some investors have adopted […]

Myanmar’s pricey realty rates to stay until 2018

Sky-high property prices in Myanmar, which in the country’s commercial capital Yangon have reached or partly exceeded the level of New York, Tokyo or Hong Kong, are to stay until at least 2018, dampening hopes that the sector would calm down from its current overheated state. This was the core message of Moe Thida, Assistant […]

Myanmar expects competitive realty prices by 2018

Exorbitant property prices, highlighted as one of the biggest business barriers in Myanmar, are expected to be brought down to a level competitive with that of neighbouring countries by 2018. Moe Thida, deputy director of the Construction Ministry’s Urban and Housing Development Department, told the Myanmar Global Investment Forum last week that some measures have […]

Economic forum predicts more foreign investment in 2015-16

The energy sector will help fuel foreign investment in Myanmar during the 2015-16 fiscal year. That was the main message to come out of the Myanmar Global Investment Forum held in Nay Pyi Taw 15-16 September attended by over 800 local business people and foreign experts. For the last three years, Myanmar’s political and business […]

Expanding urban population changes property needs

Cities are growing twice as fast as the total population and will be crucial for Myanmar’s economic future, said Putu Kamayana, adviser at New Star Light Construction and former Asian Development Bank country head. Growth will not be focused solely in Yangon in the years ahead, and other cities will also be home to modern […]

Job creation falling short: U Serge Pun

Prominent businessperson U Serge Pun said Myanmar has a mixed scorecard on job creation, and is not seeing the employment growth it could achieve. While the government has clearly place employment on the agenda, the amount of jobs being added over the last two years had fallen short of the desired results, he said at […]

Illegitimate Chinese companies hog housing projects in Myanmar

The majority of housing and residential projects in Yangon, Mandalay and Muse have been dominated by illegitimate Chinese companies. A local businessperson at the Myanmar Global Investment Forum said: “New Star Light Company, which is currently operating a 300-acre luxury complex in Muse, and the company implementing Mingalar Mandalay housing project in Mandalay are of […]

MIC should focus on investment that creates jobs: economists

The Myanmar Investment Commission (MIC) needs to prioritise investment that creates more JOBS, economists told the Myanmar Global Investment Forum in Nay Pyi Taw on September 16. “The aim of this forum is to ensure a foreign investment boom,” Energy Minister Zeya Aung said, noting that the forum was the third one organised by the […]

Surging land prices, opaque tender process ‘deterring foreign investment’

Foreign investors are disappointed that only domestic construction firms are being granted contracts to build government housing projects as surging land prices continue to make them wary of investing in housing, panellists said at the second day of the Myanmar Global Investment Forum. Cyrus Pun, executive director of Yoma Strategic Holdings, said surging land prices […]

Japan focused on Thilawa, for now, not Dawei: Jetro

The Dawei Special Economic Zone still appeals to Japan, but for now its attention is focused on Thilawa, another industrial zone. Masaki Takahara, managing director of the Japan External Trade Organisation’s Yangon office, said recently that Japan realised the importance of Dawei for |connectivity within Asean, but the country cannot stretch itself to develop both […]