MIC to remain under ministry control

Myanmar’s new government will not allow the Myanmar Investment Commission to become an independent entity, but the MIC is planning to amend its policies to relax investment restrictions and direct more capital flows into manufacturing, its secretary U Aung Naing Oo has said. There have been discussions about an independent MIC for several years. U […]

Chinese power in Myanmar

Economic development and manufacturing in Myanmar is due to get a boost in 2018 when the country’s largest power plant comes online, thanks to a joint venture between China and a local company. China’s Union Resources and Engineering Company will bring technological and engineering prowess to the project it is partnering with U Energy Tharketa […]

Tata Group set to focus on Vietnam, Myanmar

MUMBAI: At least seven companies of India’s oldest conglomerate, Tata Sons, have zeroed in on Vietnam and Myanmar as markets that need to be penetrated into. Growing economies and an expanding middle class, as well as pacts with global powers and tax incentives have made these countries important for firms that seek to reach out […]

SMART Myanmar launches 2nd phase of European Union funded project

SMART Myanmar held a kick-off launch event on 19 January at the UMFCCI with approximately 200 guests from factories, embassies and other stakeholders, according to a press release on the 20 January. More than 200 guests gathered at the UMFCCI on Tuesday to listen to speeches by the Ambassador of the European Union, Mr. Roland […]

Chinese investment in Myanmar’s SEZ pure business

The interests of Myanmar and its people will be the top consideration of the developers of two projects in Myanmar’s special economic zone (SEZ) in the town of Kyaukphyu, a company official told Xinhua recently. The China International Trust and Investment Corporation (CITIC) Construction company, together with four other Chinese companies and one Thai firm, […]

Real Estate Pro: ‘Overall, the Market Has Cooled Down’

Since earlier this year, Rangoon’s formerly dynamic real estate market has seen a striking cool-down in key locations in the city. While many factors have contributed to this economic malaise, Burma’s Nov. 8 general election, which is hoped to be the country’s freest and fairest in decades, has surely played a part. Because of the […]

Myanma Railways to invite Expression of Interest for “Consulting Service for Optical Fiber Cable Project” Closing Date: March 20th, 2015

THE GOVERNMENT OF THE REPUBLIC OF THE UNION OF MYANMAR MINISTRY OF RAIL TRANSPORTATION MYANMA RAILWAYS INVITATION TO EXPRESSION OF INTEREST FROM CONSULTING FIRMS FOR OPTICAL FIBER CABLE PROJECT In line with the National Development Plan, the Government of the Republic of the Union of Myanmar has been identifying the economic potentials to contribute to […]

Critics call for fairness in selecting developers for deep-sea port and SEZ

As the developers for the Kyaukphyu deep seaport and several special economic zone (SEZ) projects will be selected in late January, critics are calling on authorities not to give Chinese developers precedence over other international companies. Thilawa SEZ, Dawei SEZ and Kyaukphyu SEZ have been mapped in Myanmar. Kyaukphyu SEZ is the only one with […]

Myanmar plans 41 new power plants in 15 years

Myanmar has mapped a 15-year power development plan to meet increasing demand, setting its sights on boosting capacity from 4,581 megawatts to over 29,000MW in 2031. According to Myint Oo, director at the Ministry of Electric Power, the plan will shift Myanmar’s focus from hydropower to other energy sources, including coal, natural gas, solar, and […]

Japan & Singapore big winners in foreign banking licence award

9 foreign banks have been awarded preliminary Foreign Banking License on 1st October 2014. The award of the banking licence also shows the influence that the countries that the banks come from – in financing development and trade in Myanmar with the rest of the world. The big winner is Japan with 3 banking licences. […]