State Counsellor Stresses Belt and Road Needs to Align National Priorities

At the BRI summit in May, the State Counsellor stressed that BRI-led projects should complement national priorities and take into account the welfare of local communities, and highlighted the need to ensure responsible business practice. Local analysts and commentators in Myanmar have spelt out some of the benefits and risks of Myanmar’s participation in Beijing’s Belt […]

EU displaces Japan as Myanmar’s Largest Apparel Market

After the reinstatement of Generalised Scheme of Preferences (GSP) rights to Myanmar, orders from European Union have been increasing, and it has now become the top market for Myanmar’s cut-make-pack (CMP) garment sector. This has reduced Myanmar’s heavy dependence on Japan for its CMP exports, according to Myanmar Garment Entrepreneurs’ Association. “In the past the […]

Phu Trong Visit to Boost VN’s Economic Ties with Myanmar

ECONOMIC activities between Myanmar and Vietnam are likely to be more active thanks to the upcoming visit by Phu Trong, general secretary of the Communist Party of Vietnam (CPV), says Chu Cong Phung, former Vietnamese ambassador to Myanmar. Phu Trong will visit Myanmar from tomorrow to August 26 upon the invitation of President Htin Kyaw […]

Investment Promotion and Protection Agreement with Singapore under way

Negotiations over an agreement on investment promotion and protection between Myanmar and Singapore have started, according to Directorate of Investment and Company Administration (DICA) Director General U Aung Naing Oo. “During the last 4 or 5 years, Singapore has been the top investor in Myanmar and thus it is a country with which we have […]

Clothing Exports Set to Reach $3bn

Export earnings from cutting, making and packaging clothing manufacturing is expected to reach up to US$3 billion this year, said Soe Myint, the chair of the Myanmar Garment Entrepreneurs’ Association. “In the past, Japan was the biggest market but it has been overtaken by the European Union. Every month, four to six companies invest in the garment […]

To attract investments, assessment on economy must submit to MIC

To develop Myanmar’s agriculture and to attract investments, assessment on businesses and investment must be carried out with the result submitted to Myanmar Investment Commission (MIC), according to Myanmar Rice Federation. The tripartite agreement of CITIC Construction Group from China, Myanmar Rice Federation and Myanmar Agribusiness Public Cooperation (MAPCO) was signed on July 21st. The […]

France’s TOTAL Company Suggests Local Fuel Dealing to MIC

DENKO fuel station being opened in Mawlamyaing Township, Mon State (Photo-DENKO Facebook) France-based Total Company has proposed a local fuel deal in cooperation with the Denko Trading Co. Ltd., to Myanmar Investment Committee (MIC). They have requested approval from the Ministry of Electricity and Energy, according to Directorate of Investment and Companies Administration (DICA). “Currently, […]

Foreign Investors Eye Electricity Sector

Foreign companies are in discussion with the Myanmar Investment Commission (MIC) over possible investment in huge electricity projects, according to the Directorate of Investment and Companies Administration (DICA). “We are in discussion but the details have not been announced yet. The electricity projects are at least US$300 million investments and some are up to US$500 million. They came to the […]

Foreign Firms Allowed Trade Agricultural Products, Constructional Materials

Myanmar has allowed foreign companies to engage in both wholesale and retail trading of fertilizer, pesticide, seeds, hospital equipment and construction materials, according to Notification 36/2017, issued by the Ministry of Commerce. Foreign firms are allowed to do so in line with prescribed health and safety codes and international trade procedures so that the country […]

Permission Needed for Foreign Investment in Mining Sector

The government has made no obstacle for foreign investments in the mining sector in Myanmar, but permission is needed from the Ministry of Mining if one desires to do business in that sector according to Myanmar Investment Commission (MIC). “We allow foreign investments in the mining sector, but we don’t give any subsidies in that […]