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Authorities aim to strengthen investment facilitation in related ministries

The Ministry of Investment and Foreign Economic Relations has pledged to strengthen investment facilitation in related ministries. Speaking at a training workshop in Nay Pyi Taw, U Aung Naing Oo, the ministry’s permanent secretary, stressed the importance of investment facilitation and the role of all investment-facing government agencies in the process. “Investment promotion and facilitation […]

Ex-Blackwater boss moves into Myanmar security

Frontier Services Group (FSG), founded by former US military contractor Erik Prince, says it is moving into Myanmar to provide security services to Chinese and other foreign investors. Blackwater, a now-defunct private military contractor founded by Mr Prince, was condemned internationally after its employees allegedly opened fire on a Baghdad street in 2007, killing at […]

Chinese Developer’s Grand Claims Spark Fresh Concern in Karen State

YANGON — A Chinese company behind an urban development project near the Thai border in Karen State says it is planning to build on a swath of land under the control of a local armed group many times the size it was granted by the government. The Myanmar Investment Commission (MIC) approved 25.5 acres of […]

Singapore leads FDI list

Singapore has topped the list of foreign investments with over 20 billion USD, which accounts for more than 26 per cent of the total foreign investment, according to Directorate of Investment and Company Administration (DICA). From 1988-89 to 2018-19 fiscal year, the total foreign investment hit nearly 79 billion USD. Since taking office in 1988, […]

Myanmar makers confident despite sector slowdown

The Myanmar apparel export industry continues to grow, but at a slower pace than last year as a result of added political risk from the persecution and abuse against Rohingya Muslims on the border with Bangladesh, which has received widespread international condemnation. Despite this, the sector is confident garment exports will likely exceed US$3bn in 2018, and footwear will […]

Myanmar throws weight behind Hong Kong as BRI “superconnector”

Myanmar recognises Hong Kong’s “distinctive role” as the Belt and Road Initiative’s “super connector”, a cabinet minister said last week during an official visit to the city, while businesses urged Nay Pyi Taw to take a more proactive approach in the scheme. Newly appointed chair of the Myanmar Investment Commission (MIC) U Thaung Tun, who […]

Govt Investment Body to Share Regulations for Companies Law Soon

YANGON — The Directorate of Investment and Company Administration (DICA) said it would release regulations relating to the new Companies Law before it takes effect on Aug. 1 with instructions on electronic registration, company constitutions and capital structures. “We submitted the regulations to the [government’s] Economic Committee already; the cabinets will review it later,” said […]

All companies need to re-register starting from August 1

The President’s Office issued Notice 48/2018 last Thursday to announce that the new Myanmar Companies Law will go into force on August 1. The new legislation, enacted in early December last year and spearheaded by the Directorate of Investment and Company Administration (DICA), is a landmark reform which allows domestic businesses to grow by seeking […]

Myanmar reforms investment commission

YANGON — Myanmar reformed its Investment Commission with 13 members and the Minister at the Office of the Government U Thaung Tun was appointed as chairman, said a government’s order issued late Saturday. Minister of Commerce Than Myint was assigned as vice chairman of the commission, while Director-General of the Directorate of Investment and Company […]

FDI expected to hit $ 3 bln during interim period

From April to September this year, the total foreign investment is expected to hit US$ three billion, according to the Directorate of Investment and Company Administration (DICA). Than Aung Kyaw, Deputy Director-General of the DICA said: “According to the long-term investment plan, the total FDI is expected to reach US$ six billion during each fiscal […]