MIC pushes through dozens of investment approvals

The commission, which answers directly to the President’s Office, meets several times a month to approve foreign, joint-venture and local investments. According to MIC information dating back to January 2015, the average number of investments approved at each meeting is just under 10. No more than 20 projects have been approved at any previous meeting. […]

Rowsley to invest US$275 million in tie-up to develop Myanmar project

Rowsley Ltd, a listed real estate and investment firm part-owned by billionaire Peter Lim, has entered into an agreement with Vietnam’s Hoang Anh Gia Lai Joint Stock Company (HAGL) to jointly develop a mixed-use development in Yangon, Myanmar. Rowsley said that under a heads of terms agreement signed on Thursday, it will invest US$275 million […]

Tourism firm commits Ks 46 billion to project on ex-military college grounds

YANGON—Adventure Myanmar Tours & Incentives Company will invest Ks 46 billion (US$ 46 million) to build hotels and infrastructure on 7.42 acres of land at the former National Defence College, according to the Myanmar Investment Commission. The MIC allowed the company to operate on the former college grounds in accordance with the foreign investment law […]

Yangon to get 1670 hotel rooms next year

The shortage of mid-range and high-end hotel rooms in Yangon should ease next year when 1670 new hotel rooms are slated to become available, a Ministry of Hotels and Tourism official said earlier this month. A further 1255 and 2455 rooms are scheduled to open in 2014 and 2015 respectively, U Aung Zaw Win, director […]

Property prices ‘to rise for a few more years’

Presidential adviser U Aung Tun Thet sees no property bubble and predicts daily ‘flipping’ will occur There is no bubble in the property market and prices of land will continue to rise for the next few years, presidential adviser U Aung Tun Thet told a seminar to mark the first anniversary of the Myanmar Real […]