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 […]

Myanmar, France Chambers of Commerce Sign Pact for Stronger Economic Ties

Yangon Though investment by French firms in Myanmar has accounted for less than 1 per cent of the total forฌeign direct investment, the figures are likely to surge over the next few years as the Union of Myanmar Federation of Chamber of Commerce and Industry on Friday signed a memorandum of understanding (MOU) with CCI […]

China Remains Myanmar’s Largest Foreign Investor

According to data released by the Directorate of Investment and Company Administration (DICA), China remains Myanmar’s largest foreign investor with 163 projects valued at US$18.5 billion as of February this year. Singapore stands in second place with investments of $16.65bn spread throughout 230 projects, while Thailand is third with $10.6bn invested in 100 projects, according […]

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, […]

Myanmar Total Foreign Investment Reach US $70 billion This Fiscal Year.

Myanmar has received 1,246 different types of foreign investments totaling to more than $70 billion between the 1988-1989 and 2016-2017 fiscal year, according to official statistics of Directorate of Investment and Company Administration (DICA). The total foreign investment volume from 1988-1989 to 2002-2003 was $7.5billion. The following year investments received totaled $91million in 2003-2004 fiscal […]

Dai-Ichi Life Insurance Opens Myanmar Office

TOKYO — Dai-ichi Life Insurance has opened a representative office in Myanmar, as it looks to increase its foothold in the rapidly developing Southeast Asian insurance market. The Japanese insurer set up office in Yangon in late March, having been given permission by the Directorate of Investment and Company Administration, a government agency under the […]

Myanmar and ASEAN A Great Unknown to Trump

Eric Rose is lead director of Herzfeld Rubin Meyer & Rose (“HRMR”), the first US law firm established in Myanmar. HRMR is a founding member of the American Chamber of Commerce Myanmar, and Mr Rose serves on its Executive Committee, and also chairs its HR Committee. In an exclusive interview with the Myanmar Times, he […]

British Trade Mission Targets ASEAN Integration

The UK Department of International Trade (DIT) is leading a trade mission to Southeast Asia and the delegation will visit Myanmar on March 30 and 31. The trade mission focuses on infrastructure, energy and education. Before coming to Myanmar, the trade mission to Asian Development Bank (ADB) and Southeast Asia has met with the ADB at […]

Fiscal Year 2017-18: a New Dawn for Economic Policies

​​ The new fiscal year will start on April 1, which also marks the start of new laws and economic policies for Myanmar. The new Myanmar Investment Law, which was recently passed, will come into effect on April 1 and its implementation and enactment will spell changes for the country’s businesses and investors. A developing […]

Transport and Communication Sectors Reach US$3Billion in Foreign Investment

​​ The transport and communication sectors have reached more than US$3billion in foreign investment, accounting for 46 percent of total foreign investment, a source at the Directorate of Investment and Company Administration said. Until the first week of March in this year, US$3.1billion flowed from 14 foreign investments into the transport and communication sector. Myanmar […]