Myanmar Investment Commission Allows 14 Foreign Firms to Invest US$ 278 Million In Myanmar

THE Myanmar Investment Commission decided to permit 14 foreign companies to invest US$ 278.958 million during its meetings on 23 September. The firms include 13 manufacturing firms and one transportation company. Their ventures will create 8,895 job opportunities, according to the Directorate of Investment and Companies Registration. In addition, the commission permitted the investment of […]

Lower house passes Myanmar’s long-awaited Investment Law

The lower house of parliament approved the Myanmar Investment Law yesterday, taking the long-awaited draft a step closer to becoming law. The legislation, which combines into one document the Myanmar Citizens Investment Law and the Foreign Investment Law, now moves to the upper house for consideration. The Myanmar Investment Commission (MIC) began working on a draft of the law […]

MIC discusses nationwide extension of industrial zones

The Myanmar Investment Commission is discussing the nationwide extension of industrial zones with region and state governments and will invite new investors and developers, said Aung Naing Oo, the director-general of the Directorate of Investment and Company Administration. The MIC has already received proposals from companies in Hong Kong and South Korea for the establishment […]

Five garment companies get MIC approval

The Myanmar Investment Commission gave the green light to five garment companies that will operate under cut-make-pack systems at its meeting on August 26. The companies are Myanmar Sumec Win Win Garment Co Ltd, Gainway International (Myanmar) Garment Co Ltd, Saung Oo Shwe Nay (Golden Sunshine) Co Ltd, Sanyuan (Myanmar) Apparel Manufacturing Co. Ltd and […]

MIC approves new projects worth $100 million

The Myanmar Investment Commission (MIC) has approved nine new projects in its fourth round of licensing since the new government took power. In the meeting, held last week, the commission approved four foreign investments worth US$62 million and five local investments worth more than K32 billion, according to Directorate of Investment and Company Administration (DICA) […]

Aeon’s Myanmar bid highlights supermarket uncertainty

Japanese retail giant Aeon’s ambitions in Myanmar’s lucrative retail sector have highlighted uncertainty about what foreign firms are allowed to do as far as trading is concerned, with local industry heads calling for more clarity and a level playing field for domestic and international players. Aeon has provided most of the US$8.1 million in capital […]

Govt Invites Proposals for New Hotels in Myeik Archipelago

RANGOON — The Myanmar Investment Commission (MIC) is inviting proposals for new hotel projects in the Myeik Archipelago, which will be assessed for environmental friendliness in cooperation with the Tenasserim Division government. The development of the archipelago in Burma’s far south for “eco-tourism” is prioritized in the Tourism Master Plan 2013-20, which was devised under […]

MIC to strengthen data on local companies

The Myanmar Investment Commission will work with the Ministry of Planning and Finance to collect accurate data on companies operating across the country, an exercise that officials say will help the government to form better economic policies. The MIC has data on large investments and companies, but many businesses in Myanmar are only required to […]

Myanmar govt to take control of investment body

YANGON – The Myanmar Investment Commission is set to lose its independence and be moved under the control of the Ministry of Planning and Finance. MIC secretary Aung Naing Oo said: “The MIC is a separate and independent entity. However, the Indonesia Investment Coordinating Board [BKPM] reports directly to the president. Board of Investment of […]

Myanmar Investment Commission to Reform in June

RANGOON —The Myanmar Investment Commission (MIC) will be reformed this month in line with the Myanmar Investment Law, said Than Aung Kyaw, deputy director general of the Directorate of Investment and Company Administration (DICA). “Each MIC term is only three years, so it’s time for new members to be appointed,” he said. The commission, which […]