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Myanmar’s economic growth to recover but FDI under threat: ADB

Myanmar’s economic growth is expected to recover in the coming 2020-21 fiscal year, but the impact of a weakened global economy may affect foreign direct investments (FDI) into Myanmar in the future, according to a recent outlook report by the Asian Development Bank (ADB). Myanmar FDI approvals increased to US$4.3 billion for the three quarters […]

Yangon to push three large FDI projects to boost economy

Yangon to push three large FDI projects to boost economy Yangon Region Chief Minister U Phyo Min Thein, who is also chair of the Yangon Investment Committee, has revealed that the regional government is prioritising the implementation of quickly three industrial zones. Speaking at a meeting of the Yangon Investment Committee last week, U Phyo […]

Tourism, manufacturing in Myanmar hardest hit by COVID-19 pandemic, MTPO says

Tourism and manufacturing exports have been hit the hardest, according to a recent report by the Myanmar Trade Promotion Organisation (MTPO). The MTPO, under the Ministry of Commerce, recently published a survey about the COVID-19 impact on the country’s exports. The study found that 30 percent of businesses are seriously hit while 46pc are moderately […]

Myanmar to lure investments in healthcare, agri and industry

Myanmar will focus on drawing investments into healthcare, agriculture, livestock and fisheries and industrial zones in the wake of COVID-19, said U Thant Zin Lwin, Director General of the Directorate of Investment and Company Administration. “We will prioritise attracting investors in these three sectors after experiencing COVID-19 this year. In healthcare for example, businesses that […]

Hong Kong top FDI source for Myanmar this fiscal year

Hong Kong has emerged as the top source of approved foreign direct investments (FDI) into Myanmar in the first seven months of fiscal 2019-20, accounting for around 32 percent of the overall commitments. From October 2019 to April 2020, the total number of FDI commitments from 39 entities registered in Hong Kong amounted to US$1.3 […]

Garment manufacturers show enthusiasm to turn to mask, PPE production

The foreign direct investments keep flowing into the country amid the COVID-19 crisis, and some garment manufacturers eye production of the mask and PPE (Personal Protective Equipment), which are the basic health and safety requirements during the pandemic, said Director-General U Thant Sin Lwin of the Directorate of Investment and Company Administration (DICA). “The foreign […]

Myanmar economy unlikely to recover this year: MIFER

Despite a huge increase in approved foreign investments from US$1.9 billion to $3.3 billion during the period between October 2019 and March 2020, the actual inflow of foreign direct investments (FDI) are lower. At $500 million, the inflow of investment in the first quarter of the year fell short of last year’s $800 million, said […]

South Korean investments in Myanmar halted by pandemic

Inward investments from South Korea are now put on hold because of the COVID-19 pandemic, the country’s top diplomat in Myanmar told this newspaper during an exclusive interview at the sidelines of a donation ceremony in Yangon last week. South Korean Ambassador Lee Sang-hwa said loans and programmes undertaken by Korean International Cooperation Agency and […]

MIC to accelerate approvals for labour-intensive, healthcare investments

The Myanmar Investment Commission (MIC) will accelerate approvals for investments in labour-intensive and infrastructure projects, MIC secretary U Thant Sin Lwin said last week. This is to ensure as many workers find jobs as possible to offset the impact of lay-offs in other sectors such as manufacturing and tourism. The MIC will also accelerate approvals […]

Investments unaffected by COVID-19 so far

The outbreak of the Covid-19 virus could slow the pace of foreign direct investments (FDI) into Myanmar in the coming months, according to the Directorate of Investment and Company Administration (DICA). U Myo Min, a director at DICA, said although Myanmar has been unaffected so far, the impact of the outbreak on the world economy […]