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 […]

Sink-or-Swim Time for ASEAN Latecomers as Tariffs Come Down

HANOI — Cambodia, Laos, Myanmar and Vietnam are no longer getting the kid-gloves treatment in the ASEAN Economic Community. As late entrants to the Association of Southeast Asian Nations, the four countries were initially exempted from abolishing some tariffs when the bloc established the AEC at the end of 2015. As of Monday, however, they […]

Myanmar to Delay Law That Would Have Allowed More Foreign Investment

YANGON (Reuters) – Myanmar will delay a long-awaited reform that would open the door further to foreign investment, two officials told Reuters, a move likely to disappoint cash-starved businesses amid growing doubts over the management of the economy by the country’s leader, Aung San Suu Kyi. The postponement of the corporate reform, which would have […]

Myanmar Looks to Strong Inflow of FDI

THOUGH MYANMAR is one of the lowest-ranked economies in Asia Pacific region according to the World Bank’s recent report on doing business, the nation maintains its optimism over the inflow of foreign direct investment next year, according to Aung Naing Oo, director-general of the Directorate of Investment and Company Administration and secretary of Myanmar Investment […]

Japan Reassures Commitment to Boost Myanmar’s Infra Dev’t

The Japanese government has reassured its commitment to help develop the infrastructure of Myanmar to attract foreign direct investments in the country. “We will continue to contribute to Myanmar’s infrastructure development with Japan’s wealth of experiences, technologies, and know-how of quality infrastructure,” Japanese Embassy councilor in Myanmar Kazuyuki Takimi said during the “Dialogue for Quality Infrastructure […]

Permission Needed for Foreign Investment in Mining Sector

The government has made no obstacle for foreign investments in the mining sector in Myanmar, but permission is needed from the Ministry of Mining if one desires to do business in that sector according to Myanmar Investment Commission (MIC). “We allow foreign investments in the mining sector, but we don’t give any subsidies in that […]

Foreign investors keen to open petrol stations

YANGON- Foreign investors are very keen to open petrol and fuel filling stations in Myanmar. The Myanmar Investment Commission (MIC) says companies have asked if they are allowed to open domestic fuel stations. “Currently, no one has submitted a suggestion about the fuel market,” MIC secretary Aung Naing Oo said. However, foreign investors had asked […]

32 foreign investment proposals under scrutiny

The Myanmar Investment Commission (MIC) says it is scrutinising 32 foreign investment proposals worth US$1.5 billion and 20 domestic proposals worth Ks492 billion. Aung Naing Oo, the secretary of the MIC, said: “These proposals were made under the old investment law. According to the new law, the MIC has received 26 foreign investment proposals worth […]

FDI Expected to Exceed $6bn

Total foreign direct investment (FDI) is expected to reach US$6.1 billion in 2017-18, according to the Directorate of Investments and Company Administration (DICA). Aung Naing Oo, the director-general of the DICA, said: “We draft our projects based on the National Comprehensive Development Plan of 2011-2030. Under the project, the FDI is set to reach up to US$140 billion between 2014 and 2030. In doing so, the average inflow of investment between 2016 and 2020 is set to hit US$6 billion annually.” Five years ago, the annual FDI was expected to reach US$4 billion but since 2016 it was US$6 billion. It was US$6.8 billion in 2016-17. In 2021, we would increase the estimation of our annual FDI inflow, […]