Myanmar official says ‘totally underestimated’ economic impact of Rohingya crisis

A Myanmar foreign investment official said on Wednesday he “totally underestimated” the economic damage of the Rohingya crisis, adding that the outcry over the jailing of two Reuters reporters would also have some impact on his country’s reputation. Asked at an investor forum in Singapore what impact the crisis had on Myanmar’s economy and investment, […]

Korea-Myanmar Industrial Complex to be in Hlegu

YANGON- US$ 110 million worth Korea-Myanmar Industrial Complex(KMIC) project will be implemented in Nyaungnapin, Hlegu Township, Yangon Region. The approximately 555 acres wide project will begin near Nyaungnapin village, western part of about 5-mile away from the Yangon-Mandalay Expressway and it is a joint venture between Civilian and Housing Development Department under the Ministry of […]

Myanmar likely to open more sectors to FDI

A SURGE in interest among global players following the liberalisation of Myanmar’s education sector to foreign investors has motivated the authorities to continue opening up the economy in other restricted sectors. Thant Sin Lwin, deputy director general at the Directorate of Investment and Company Administration (DICA), said at a press conference on Tuesday that Myanmar […]

Property market to remain cool for now

Property market will continue to remain cool in the short run though it may become active beyond 2018, said Nay Min Thu, managing director of iMyanmarHouse.com, a local property website. “Dwindling property market may revive if there is a massive inflow of foreign investments into the market later in the year,” he added. There will […]

Myanmar region woos French FDI

Myanmar’s underdeveloped Tanintharyi region bordering Kanchanaburi province plans to attract European investment mainly from French companies in the months to come, according to Phyo Win Tun, planning and finance minister of the Tanintharyi region government. “At the regional government, we frequently receive business delegations from Europe, including France, Italy, Czech as well as from other […]

Myanmar seeks closer Thai business ties

THOUGH MYANMAR received only US$123 million (Bt3.84 billion) from Thai investments in the previous fiscal year ending on March 31, the nation’s investment body foresees a significant inflow of Thai businesses over the next few years. Aung Naing Oo, secretary of Myanmar Investment Commission and director-general at the Directorate of Investment and Company Administration, said […]

Thai investors buoyed by CLMV investment climate

Following the strong economic growth in Asean, especially in CLMV countries (Cambodia, Laos, Vietnam, and Myanmar), Thai investors have expanded their regional investment by focusing on alternative energy, food and agriculture processing, tourism, and service business. According to a report by the Bank of Thailand, as of September 30, 2017 Thai investors showed outstanding direct […]

Investment commission aims to attract labour-intensive companies

The oil and gas, power supply, manufacturing, telecom and real-estate sectors have topped the list of foreign investments during this year, said Aung Naing Oo, secretary of Myanmar Investment Commission. China stands first on the list of foreign investors, Singapore, second and Thailand, third. “Foreign investors are at the moment most interested in the manufacturing […]

Some Businesses Fret Over Myanmar Wage Proposal

Many business organisations in Myanmar have lodged objections against improving daily wages as approved by the National Committee for Designating Minimum Wage earฌlier this month. The committee has decided to set the minimum wage at 4,800 kyat, a 33 per cent increase from the current rate of 3,600 kyat. All businesses with 10 or more […]

Cooling Property Market Expected to Revive This Year

Thanks to the enactment of the New Companies Law and the emergence of bylaws for condominium developments, the country may see an inflow of foreign direct investment (FDI) to reactivate the cooling property market, according to Aung Naing Oo, secretary of Myanmar Investment Commission. “Take a look at the FDI situation, there may be both […]