Belt and Road, Kaladan and the future of Rakhine’s economy

THE economy in the resource-rich Rakhine State is throttled by the crisis as well as the accompanying international backlash, dashing any hope of massive foreign investment in the near future. In the meantime, local communities in Kyaukphyu have demanded the stake ratio of the proposed Kyaukphyu port to be restructured so as to allow a […]

Why Myanmar’s Insurance Market is the Next Big Thing

Myanmar’s insurance market currently remains closed to foreign insurers, but this is soon set to change. Like banking before it, it is predicted that the Myanmar’s insurance market will be liberalized sometime this year. This presents enormous opportunities but also enormous challenges. Currently, there are 24 foreign insurers with representative offices in Myanmar, which in […]

MIC Approves Foreign Forestry Joint Venture

The Myanmar In­vestment Commission (MIC) has green lit their second ever foreign investment in the forestry sector, according to a Directorate of Investment and Company Administration (DICA) on August 30. The Investment was awarded to Global Agriculture Joint Venture Co., Ltd, a joint venture between UK company Kruilight Co., Ltm. and the Department of Forestry. […]

Shares of 55 companies can soon be traded locally

55 public companies which were given the green light to sell shares in the local over-the-counter (OTC) market must receive official permission from the Securities and Exchange Commission of Myanmar (SECM) first, U Htay Chun, member of the commission, told The Myanmar Times. The announcement comes a day after the Directorate of Investment and Company […]

Mandalay likely to hit US$600 million FDI target for 2017-18

The Mandalay region is set to achieve its US$600 million foreign direct investment (FDI) target for 2017-18. FDI in April-June has already exceeded US$582 million, which is around 90 per cent of the target, data released by the Mandalay Region Investment Committee showed. Under the new Myanmar Investment Law enacted in Oct 2016, Region and […]

$1.8b FDI approved for 2017-18 so far

The Myanmar Investment Commission (MIC) has approved a total of US$1.85 million worth of investments from 66 foreign businesses and K501 billion worth of investments from 24 Myanmar citizens for fiscal year 2017-18. In June alone, the MIC approved investments worth US713.43 million from 22 foreign businesses and K11.425 billion investment from four Myanmar citizens, […]

MIC expands amid reforms

The Myanmar Investment Commission (MIC) has been reorganised with three new members, according to a news release by the Directorate of Investment and Company Administration (DICA) on June 14. The MIC is a government-appointed body which is responsible for verifying and approving investment proposals and regularly issues notifications about sector-specific developments. The previous appointments to […]

MIC has approved 21 foreign direct investment projects

The Myanmar investment Commission has approved 21 foreign direct investment projects worth US$ 217.644 million within two months, it has been learned. The investments will be made in 17 industrial sector projects, one transportation and communication sector project, one livestock and fisheries sector project, one service sector project and one energy sector project. These kinds […]

No need to seek approval from MIC for investment except for businesses with environmental impact

Investment businesses are no longer required to seek approval from Myanmar Investment Commission (MIC) apart from the businesses needing environmental impact assessments. Those investment businesses can apply for registration at the Directorate of Investment and Company Administration (DICA) branches in the regions and states concerned. Currently, more DICA branches will be opened in Kayin State, […]

Tax exemptions to be granted to 100 per cent of export factories

TAX exemptions will be granted to 100 per cent of export factories operating in Myanmar without time limit if both nationals and (if applicable) their foreigner partners export all finished products they manufacture, it has been learned from the Directorate of Investment and Company Administration (DICA). Export enterprises will be exempted from certain taxes. That […]