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U Aung Naing Oo leaves DICA for a new role

A key architect of the government’s economic reform is to be transferred to assist newly minted minister U Thaung Tun. U Aung Naing Oo, director general of the Directorate of Investment and Company Administration (DICA) has been named the new director general of the Office of the Union Investment and Foreign Economic Relations under Minister […]

Myanmar targets FDI from East Asia in long-term investment plan

Myanmar is gunning for more foreign direct investments (FDI) from East Asia in the next 20 years under its new Myanmar Investment Promotion Plan (MIPP), U Than Aung Kyaw, deputy director general of the Directorate of Investment and Company Administration (DICA) told The Myanmar Times at a book launch in Yangon on Thursday. Besides strengthening […]

Ministry of electricity and energy, department of power transmission and System control, Invitation for Expressions of Interest (EOI) – Consulting Services, Submission Deadline: 27 September 2018.

Date 7th September 2018 Project No. 50020-002 Project Title Myanmar: Power Network Development Project Title of Assignment Project Implementation Consultant (PIC)          -Transmission Component Deadline for Submission of EOI 27th September 2018, 14:00 hr 1. The Republic of the Union of Myanmar has applied for financing from the Asian Development Bank (ADB) […]

Falling kyat may put pressure on foreign debt

The falling value of the Myanmar kyat versus the US dollar could make repaying external debt harder for the government in the coming fiscal year. In 2018-19, it is expected to repay K877 billion out of the $9 billion Myanmar owes to foreign creditors, according to the budget submitted for the period. That amount may […]

Investment Agency Says Business Donations to Government Officials Violate Graft Code

YANGON — The Directorate of Investment and Company Administration (DICA) announced on Friday that companies and body corporates are not allowed to donate money either directly or indirectly to ministries or regional government departments, citing the Myanmar Companies Law 2017, to prevent corruption between government bodies and private companies. U Aung Naing Oo, director general […]

State-owned Thai oil company unit to invest more in Myanmar

BANGKOK — Thailand’s PTT Exploration and Production, a subsidiary of Thailand’s national oil and gas conglomerate PTT, plans to greatly expand its investment in Myanmar. The company aims to join a new round of bidding for oil and gas exploration rights, due to open by the end of this year, in hopes of cashing in […]

Ministry of electricity and energy, National electrification project, Invitation for Bids, Submission Date: 11 September 2018.

Date: 29th July, 2018 Specific procurement notice IDA Credit No. : 5727-MM Contract Title: Concrete Poles for NationalElectrification Project Reference No.: C1-G11 1. The Ministry of Electricity and Energy has received financing from the World Bank towards the cost of the National Electrification Project, and intends to apply part of the proceeds towards payments under […]

After Pakistan, China trying to build economic corridor to Myanmar

BEIJING: China and Myanmar are close to signing a deal on the establishment of a China-Myanmar Economic Corridor along the lines of the controversial China-Pakistan Economic Corridor (CPEC). Once launched, the project will unleash a massive inflow of Chinese funds to Myanmar which can further weaken Indian influence over its eastern neighbor. A senior Myanmar […]

Can China-Myanmar Economic Corridor overcome hurdles to progress?

Recently, U Aung Naing Oo, director general of the Directorate of Investment and Company Administration of Myanmar, said that Myanmar and China will soon sign a Memorandum of Understanding (MoU) on building the China-Myanmar Economic Corridor (CMEC), one of the key projects of the Belt and Road initiative (BRI). The two sides reached a 15-point […]

Myanmar to trim Kyaukphyu cost but drops Annan’s strategic review suggestion

Nay Pyi Taw’s plan to reduce the cost of Kyaukpyu Special Economic Zone, including the proposed deep-sea port, will help cap its external debt load and avoid repeating Sri Lanka’s Hambantota’s precedent, according to London-headquartered research firm BMI Research. At the same time, a government committee has dropped any mentioning of commissioning a Strategic Environmental […]