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DICA

Directorate of Investment and Company Administration

Myanmar Confident About Reaching Investment Target, Despite COVID-19

YANGON — Myanmar’s trade minister said he is confident foreign direct investment (FDI) will meet the government target for this fiscal year, despite the COVID-19 pandemic. During a live address on the economy and recovery plan, the minister for investment and foreign economic relations (MIFER), U Thaung Tun, said Myanmar received US$4.15 billion (5.8 trillion […]

Garment manufacturers show enthusiasm to turn to mask, PPE production

The foreign direct investments keep flowing into the country amid the COVID-19 crisis, and some garment manufacturers eye production of the mask and PPE (Personal Protective Equipment), which are the basic health and safety requirements during the pandemic, said Director-General U Thant Sin Lwin of the Directorate of Investment and Company Administration (DICA). “The foreign […]

Over 800 companies struck off register due to the absence of Annual Return

A total of 810 companies have been struck off the register as they fail to submit an annual return (AR) on the on- line registry system, MyCO, according to the Directorate of Investment and Company Administration (DICA). The DICA has notified any company which fails to submit its AR within 13 months will be notified […]

Local, foreign investments create over 140,000 jobs in 2019-2020FY H1

Local and foreign investments created over 140,000 job opportunities in six months of 2019-2020 fiscal year (FY), according to the Directorate of Investment and Company Administration (DICA). The foreign investment projects approved by the Myanmar Investment Commission (MIC) have created over 130,000 job opportunities for Myanmar citizens in six months of this FY, including the […]

Factory operators can face legal actions unless complied with MIL

The factory operators can face legal actions under the Myanmar Investment Law (MIL) if they fail to comply with notification requirements for the closure of factories, said U Thant Sin Lwin, director-general of the Directorate of Investment and Company Administration (DICA). At present, some CMP garment factories have shut down on the reason for the […]

Investments unaffected by COVID-19 so far

The outbreak of the Covid-19 virus could slow the pace of foreign direct investments (FDI) into Myanmar in the coming months, according to the Directorate of Investment and Company Administration (DICA). U Myo Min, a director at DICA, said although Myanmar has been unaffected so far, the impact of the outbreak on the world economy […]

DICA to provide more services online

The Directorate of Investment and Company Administration (DICA) plans to digitalise all its services to speed up processes and reduce corruption risks. “Company registration was changed to digital system in 2018. Next step is for the whole DICA to become digital,” U Thant Sin Lwin, DICA director general, told The Myanmar Times. “It is for […]

Myanmar falls short of FDI target this year, but outlook is positive

Despite government efforts to hit its foreign direct investment (FDI) estimate of $5.8 billion during fiscal 2018-19, investors channeled just $4.1 billion into Myanmar, 70 percent of the original target, between October 1, 2018 and September 30, 2019. But U Thant Sin Lwin, director general of the Directorate of Investment and Company Administration (DICA) and […]

South Korean firm invests in Bago power project

South Korea’s MCM Power Company will invest over US$35 million on a power generation and distribution project in Pyay township, Bago, according to U Thant Sin Lwin, Director-General of the Directorate of Investment and Company Administration (DICA). The gas-powered project is expected to generate 40MW of electricity. Interest in the Myanmar power sector from Hong […]

Thai Investors Eye Comprehensive Tourism Investment in Tanintharyi

Thai investors have shown interest in making comprehensive tourism investment in Kawthaung and Myeik archipelago, Tanintharyi Region, according to U Thant Sin Lwin, Deputy Director of the Directorate of Investment and Company Administration (DICA). “There are email inquiries asking how many islands and roads are in the archipelago,” said the official. “They also want to […]