Myanmar stresses importance of rule of law for national development

YANGON, March 12 (Xinhua) — Myanmar State Counselor Aung San Suu Kyi has stressed the importance of rule of law and its effect on national development, calling for enforcing rule of law to achieve peace for development. Addressing the Conference on Justice Sector Coordinating for Rule of Law in the capital of Nay Pyi Taw, […]

NLD economist questions effectiveness of new tax bill

The recently unveiled 2018 tax bill that had caused quite a firestorm in Myanmar is widely considered to be an abomination for many skeptics; even the believers are tentative at best. It comes as no surprise that the bill, Section 25 in particular that would see tax collected from intangible assets and unidentified sources of […]

Vietnamese Investors Prosper in Laos, Cambodia, Myanmar

Vietnam’s OFDI has been increasing in recent years with 930 projects licensed, mostly in the fields of industry, agriculture, telecommunication and finance & banking. Forty percent are developed in Laos, Cambodia and Myanmar. Laos is in No 1 among the countries and territories where Vietnam has OFDI. According to FIA (Foreign Investment Agency), by the […]

Actual FDI Hits $3.7 Billion This FY, Says MIC

The actual inflow of foreign direct investments amounted to US$3.7 billion during this fiscal year even though Myanmar Investment Commission has granted US$5 billion. The MIC releases the FDI lists every month and has issued the actual inflow of FDI twice during 2017-2018 fiscal year. From 1988-1989 until December of the 2017-2018 fiscal year, the […]

Investment commission aims to attract labour-intensive companies

The oil and gas, power supply, manufacturing, telecom and real-estate sectors have topped the list of foreign investments during this year, said Aung Naing Oo, secretary of Myanmar Investment Commission. China stands first on the list of foreign investors, Singapore, second and Thailand, third. “Foreign investors are at the moment most interested in the manufacturing […]

Myanmar seeks Malaysian FDI in energy, plantations

MYANMAR is seeking more foreign direct investment (FDI) inflows from Malaysia to help develop its key economic sectors. Malaysian conglomerates have been called to capitalise on the country’s increasing demand for electricity and vast areas of untapped land by bidding for energy projects and expanding oil palm cultivation capacities in Myanmar. Former Deputy Finance Minister […]

ASEAN Businesses Boost Investment in Own Backyards

​​ BANGKOK — Business in the Association of Southeast Asian Nations is entering a new phase as regional companies increasingly look to neighboring countries for investment opportunities. Having long been a destination for foreign businesses in search of cheap labor, the bloc is now seeing homegrown companies emerge as players in their own right. After […]

Kyat Hits Strongest Level Against Dollar in Over a Year

The Myanmar kyat appreciated to its strongest level against the US dollar in a year after the Central Bank of Myanmar (CBM) set its daily reference rate at K1,345 per dollar on Tuesday. The kyat had weakened to K1,360 against the dollar last year. It opened this year at K1,361. The kyat hit a record […]

Myanmar’s Manufacturing Sector Attracts over 1.5 Bln USD of Foreign Investment in 9 Months

​​ YANGON, Jan. 19 (Xinhua) — Myanmar’s manufacturing sector attracted 1.55 billion U.S. dollars of foreign direct investment (FDI) in the first nine months of present fiscal year 2017-2018, according to the Directorate of Investment and Company Administration (DICA) Friday. It was followed by real estate sector with 1.06 billion U.S. dollars and other service […]

Sink-or-Swim Time for ASEAN Latecomers as Tariffs Come Down

HANOI — Cambodia, Laos, Myanmar and Vietnam are no longer getting the kid-gloves treatment in the ASEAN Economic Community. As late entrants to the Association of Southeast Asian Nations, the four countries were initially exempted from abolishing some tariffs when the bloc established the AEC at the end of 2015. As of Monday, however, they […]