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Foreign investment inflows to double: Myanmar govt

Approved foreign direct investment (FDI) into Myanmar is expected to grow this year, the Myanmar Investment Commission (MIC) says. Already, approved FDI into Myanmar in the first three months of fiscal year 2019-20 is double what it was in the same period in the previous fiscal year, the commission said. “Currently, FDI in the country […]

Three sectors likely to see massive inflows of FDI

In 2019-20 fiscal year, the power production sector, oil and gas sector and logistics sector are likely to see a massive inflow of foreign direct investments, said U Aung Naing Oo, Permanent Secretary of the Ministry of Investment and Foreign Economic Relations. “In 2019-20 FY, the first promising sector is electricity production and power plants. […]

Myanmar falls short of FDI target this year, but outlook is positive

Despite government efforts to hit its foreign direct investment (FDI) estimate of $5.8 billion during fiscal 2018-19, investors channeled just $4.1 billion into Myanmar, 70 percent of the original target, between October 1, 2018 and September 30, 2019. But U Thant Sin Lwin, director general of the Directorate of Investment and Company Administration (DICA) and […]

Local consulting firm opens branch in Japan

Yangon-based think-tank Myanmar Survey Research (MSR) opened an overseas office in Japan last month to work closely with potential Japanese investors. The office is located in Chidoya ward, Tokyo, under the name MSR Japan with operations planned to commence after the New Year. “The objectives of setting up an office in Japan are for us […]

New policies needed to unleash growth in steel industry

International steel manufacturing companies in the Thilawa Special Economic Zone near Yangon have been looking for opportunities to ramp up their capacity to produce in anticipation of greater demand. “Compared with neighbouring countries, steel production in Myanmar is just 50,000 tonnes. But there is a lot of potential as the country needs a lot of […]

Singapore Businesses see Myanmar as ‘Potential Gold Mine’

Myanmar is a “potential gold mine” and the “last frontier for” investors despite its low ranking in ease of doing business, said a Singaporean investor at a business to business matchmaking event in early November. MyanmarBizConnect Group, a local business matchmaking group, the Singapore’s Association of Small and Medium Enterprises (ASME) and Malaysia’s RHB Bank […]

Trade War Could be ‘Silver Lining’ for Myanmar

Myanmar has to move to tap into opportunities created by trade tensions between the world’s two largest economies, said a senior Singaporean academic. The US-China trade war has provided “silver linings” for many countries, such as Vietnam. in the Southeast Asia region, said Simon Tay, Chairman of Singapore Institute of International Affairs (SIIA), in the […]

Myanmar lags as ASEAN sees record FDI

Foreign direct investment (FDI) into Myanmar still lags other countries in ASEAN, according to a report issued by the ASEAN Secretariat last week. The report ASEAN Investment Report 2019: FDI in Services showed that FDI into Myanmar declined despite record-high inflows into other countries in the grouping. FDI in Myanmar in 2018 slumped 11 percent […]

Japan tops list of foreign investors in Myanmar SEZs

Foreign investments of US$362.28 million flowed into the Special Economic Zones (SEZs), under the Special Economic Zone Law, in the 2018-2019 fiscal year, according to figures released by the Directorate of Investment and Company Administration, Myanmar state media reported. A total of 106 enterprises from 18 countries and four local businesses have ploughed in $1.84 […]

Taking a Quantum Leap to Revamp Myanmar’s Economy

YANGON—Since last year, Myanmar officials responsible for drumming up foreign investment have been shuttling between Naypyitaw and Asian countries to pitch the government’s latest legal, procedural, and institutional reforms to potential investors as part of efforts to revitalize the country’s economy. State Counselor Daw Aung San Suu Kyi often highlights foreign direct investment (FDI) as […]