Most exports from MIC-registered firms

Around 58 per cent of exports between 2011 and 2016 were from businesses running under the official permission of the Myanmar Investment Commission (MIC), said commission secretary Aung Naing Oo. Exports earned more than US$7 billion in the 2011-12 financial year, US$6 billion in 2012-13, US$8 billion in 2013-14, US$7 billion in 2014-15 and US$6 […]

Myanmar boosts incentives for infra development, labour-intensive projects

THE MYANMAR Investment Commission, a government body to facilitate both foreign and local investment, has planned plans to provide more incentives for investors in the two areas that are crucial to the country’s growth, labour-intensive industries and infrastructure development, a senior official said. According to Aung Naing Oo, secretary of Myanmar Investment Commission and director […]

Myanmar courting global producers

The Myanmar authorities have sped up efforts in recent months to increase the country’s attractiveness for global manufacturers. The latest move was revealed in September by the Myanmar Investment Commission (MIC) and concerns the move to allow local and foreign investors into industrial zones across the country. This follows requests by companies from Hong Kong […]

Japanese investments expected to shift to Myanmar: DICA

Japanese government and many Japanese companies are becoming interested in making investments in Myanmar as Japanese companies are looking into shifting their investments from Thailand, according to the Directorate of Investment and Company Administration’s press release. The DICA has drafted a 20-year Foreign Direct Investment Promotion Plan, which includes ‘China plus one’ and ‘Thailand plus […]

Myanmar Confident of Topping $6 Bn FDI

​​ THE MYANMAR Investment Commission is confident of reaching its $6 billion (Bt216 billion) target for foreign direct investment in the 2016 fiscal year to March 31, although the nine-month figure accounts for only slightly half of the target. Despite the decline in FDI inflow, Aung Naing Oo, director-general of the Directorate of Investment and […]

MIC to Prioritise Needy Townships

​​ Under the new Myanmar Investment Law, investment promotion plans will identify zones 1, 2 and 3 to prioritise the townships most in need, according to the Directorate of Investment and Company Administration under the Ministry of Planning and Finance. For income tax exemption under the new law, underdeveloped regions are designated as zone 1, the regions with moderate development zone 2 and developed regions zone 3. With government approval, the Myanmar Investment Commission (MIC) may give income tax exemption to zone 1 investors for seven consecutive years, zone 2 investors for five years and zone […]

Myanmar to Ramp up Gem Exports Post-Sanctions

YANGON — Earlier this month, Washington removed all remaining sanctions on Myanmar, including bans on imports of jade and rubies to the U.S. The move was in response to the Myanmar government’s initiative to achieve more democratic society, led by State Counselor Aung San Suu Kyi, since it was launched in March. U.S. establishments are […]

Aeon brings Japanese sensibilities to Myanmar food shopping

YANGON — Japanese supermarket giant Aeon has become the first foreign retailer to enter Myanmar since the 2011 transition to civilian rule, a development that could herald change in a retail industry still dominated by traditional markets. Aeon signage, a familiar sight to Japanese consumers, made its Myanmar debut Friday in a largely middle-class area along a major […]

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 […]

HK, South Korea eye clothing factories

Companies from Hong Kong and South Korea have submitted proposals to establish garment factories and whole industrial zones to the Myanmar Investment Commission. Now the MIC was discussing potential locations with regional governments, said committee secretary Aung Naing Oo. “It is still at the discussion stage. They will enter the country when we are ready. Currently, we are making sure that we can give land to them for factories. They will set up their factories at the places where the government specifies. They are most likely to get land for their factories in Yangon and Bago where there are jetties,” he added. The MIC said it hoped the factories would create job opportunities.  “We plan to establish industrial zones […]