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Interest in retail, wholesale sector continues unabated

Two years after the Myanmar Investment Commission’s announcement, the Ministry of Commerce (MOC) has permitted nine wholly foreign retail and wholesale providers to operate in the country. These include investors from Japan, Thailand, US, Singapore, and the Netherlands. The nine non-Myanmar companies are able to secure a green light from the authorities since the government […]

Few foreign fuel investments, but more Yangon Petrol stations planned: Chief Minister

The Yangon Region Government will increase efforts to allow more Yangon Petrol Co (YP) fuel stations to open in response to high demand, regional government officials said at its annual press conference last week. “The public frequently asks us to open more YP petrol stations across Yangon. However, many of these projects have been delayed […]

Singapore surpasses China as Myanmar’s biggest investor

Singapore has overtaken China as the country’s main source of foreign investment in 2019, according to data from the Ministry of Investment and Foreign Economic Relations. At a meeting on streamlining investment in Nay Pyi Taw last week, U Aung Naing Oo, the ministry’s permanent secretary, said, “The top investor in Myanmar through December 2018 […]

DICA chief promoted as investment ministry’s top civil servant

The government has appointed U Aung Naing Oo as permanent secretary of the recently-created Ministry of Investment and Foreign Economic Relations, the official gazette announced. As the top civil servant leading the ministry, he will support and advise the cabinet minister, career diplomat U Thaung Tun, on how to drum up foreign investments and build […]

DICA sets 30 Mar as late registration deadline for MyCO

The Directorate of Investment and Company Administration has asked companies which failed to register and re-register on the online registry MyCO in January to complete the registration formalities by 30 March. Companies which fail to meet the deadline for late registration will be struck off from the register list, according to the DICA. “More than […]

Mandalay to host SME trade fair for the first time

An international trade fair and economic forum for local small and medium enterprises (SMEs) will be held for the first time in Mandalay, Myanmar’s second-largest city from March 23-25. Mandalay Region Union of Myanmar Federation of Chambers of Commerce and Industry (MRCCI) Vice Chair Daw Khin Lay Myint said this was the first time the […]

Creation of new ministry part of Myanmar’s plan to incentivise FDI

In an attempt to reverse a recent decline in foreign investment, Myanmar has set up a new ministry tasked with attracting and facilitating fresh inflows, though concerns over the re-imposition of import tariffs by the EU could cool investor appetite. On November 19 the government established the Ministry of Investment and Foreign Economic Relations, a […]

Canadian company to pursue lithium exploration in Myanmar

AsiaBaseMetals Inc announced its entry into the Myanmar mining sector last week. The Canada-based miner will focus on mining lithium and has already obtained the necessary documents that will enable it to submit investment proposals to the Myanmar Investment Commission. Once submitted and if approved, AsiaBaseMetals will be the first company to venture into the […]

Myanmar aims to increase trade with South Korea

Myanmar will raise efforts to boost trade with the Republic of Korea, said U Aung Soe, Permanent Secretary of the Ministry of Commerce (MOC) during an event to promote local agriculture exports to South Korea on February 16. The event was hosted by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) […]

Myanmar-based Irish company Red Dot halts operations

Red Dot, businessman John Nagle’s Myanmar-based electronic payments company, halted operations in recent weeks, according to local reports. Mr Nagle established Red Dot Network, which allows customers to buy mobile phone credit and pay bills, after emerging from bankruptcy in 2014, with backing from Denis O’Brien’s Digicel, which sold the business to him last year. […]