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FDI jumps 77pc to US$2.3 billion in first half of 2019

Government-approved foreign direct investment (FDI) into the country stood at US$2.3 billion in the first-half of 2019, a 77 percent improvement from the same period last year when approved FDI came in at US$1.3 billion. According to statistics from the Directorate of Investment and Company Administration, Singapore was the top investor with US$1.3 billion and […]

China Leads Investment in Yangon

YANGON—China was the largest investor in Myanmar’s financial hub, Yangon Region, in the first nine months of the current fiscal year, according to the Directorate of Investment and Company Administration (DICA). China is already the second-largest investor in the country. The director of DICA’s Yangon Region Office, U Myo Khaing Oo, said on Wednesday that […]

‘No magic bullet’ behind Thilawa’s success

Success behind the Japan-led Special Economic Zone shows the need for Myanmar to improve access to land and utilities and reform its regulatory framework to capture investor interest, an SEZ investor said. Yangon’s government showcased 80 project proposals in last month’s Yangon Investment Forum. Apart from housing, industrial zones and highways, the list included ambitious […]

Myanmar on the radar as investors shift funds from China

Myanmar is well-positioned to benefit from the flight of capital to the Asean region as the trade war between China and the US plays out, officials said. ‘’Myanmar is one of the targeted countries for businesses planning to shift out of China to avoid the fallout from the trade war,” Li Fuquan, the chair of […]

Japan goes long on myanmar

Japan is playing a central role in assisting Myanmar’s ongoing financial reforms and attempts to achieve industrialisation. Japan is interested in Myanmar from both an industrial and a financial perspective, while Burmese officials see Japan as a natural partner for financial cooperation. Japan’s public–private assistance for financial development in Myanmar emerged in a Financial Services […]

Economy outlook positive pending reform acceleration, says World Bank

After a period of volatility during the six-month transition period between April and September 2018, growth in Myanmar has stabilised and the economy is expected to expand at a rate of 6.5 percent in the current 2018-19 fiscal year, according to the World Bank’s June 2019 Myanmar Economic Monitor. Supported by higher productivity in the […]

Better implementation of the law needed to draw foreign investors

Lack of coordination between the Union and regional governments on development policies, red tape and weak implementation of new laws has hampered the flow of foreign direct investments (FDI) into Myanmar, said U Aung Naing Oo, permanent secretary of the Ministry of Investment and Foreign Economic Relations. U Aung Naing Oo pointed out that having […]

More FDI expected in power sector in five years

Myanmar’s power sector will spearhead growth in the infrastructure industry and draw the bulk of foreign direct investments (FDI) over the next five years, Fitch Solutions Macro Research said in a report released April 23. With just 40 percent of all households enjoying access to electricity as at September 2017, which is amongst the lowest […]

FDI needed for undeveloped regions but no plans for tax incentives

Although more foreign direct investments (FDI) are needed for the undeveloped Regions and States, there are no plans to revise current tax relief scheme as yet, said U Thant Sin Maung, acting director general of the Directorate of Investment and Company Administration (DICA). U Thant Sin Maung was responding to requests for tax incentives from […]

Myanmar needs to accelerate economic reforms to sustain growth: ADB

Presenting an optimistic growth outlook for the current fiscal and the coming years, ADB urges government of Myanmar to continue focusing on economic reforms, particularly in the areas of public finance management, legal and regulatory frameworks and governance and accountability. Pointing out the need for prudent use of scarce resources for infrastructure and skill development […]