Myanmar plans to increase FDI in agriculture sector

In a bid to increase investments in the local farm sector, the Directorate of Investment and Company Administration is planning to link the agriculture and industry sectors, its deputy director-general said. Currently, only 0.15 percent of foreign direct investment flowed into the country’s agriculture industry. That is why the government has arranged to link the […]

Singaporean businesspeople tend to boost trade, investment in Myanmar

SINGAPOREAN businesspeople are showing an increased interest in making investments in Myanmar. Singapore has invested a total of US$13,286.354 million, according to U Zaw Min Win, Vice President of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry. “Singaporean firms tend to invest more here.” said the UMFCCI Vice President, […]

Commission Approves 13 Foreign Investment Proposals During New Govt Term

RANGOON — The newly re-formed Myanmar Investment Commission (MIC) approved 13 foreign investment proposals and nine local investments over the last two months, a figure significantly lower than the same period in 2015, Aung Naing Oo, secretary of the MIC, told The Irrawaddy. Since the MIC was re-staffed in early June under the chairmanship of Kyaw Win, […]

Myanmar prioritises labour-intensive, agro-based industries for FDI

In an attempt to attract investments, Myanmar has prioritised labour-intensive industries, agro-based industries and other infrastructural projects, according to policies set by the Directorate of Investment and Company Administration (DICA) and the Myanmar Investment Commission. Myanmar is inviting foreign companies to make investments in labour-intensive industries with the aim of creating more employment opportunities for […]

Australia-based mining company granted three blocks

Australian PanAust Group has been granted exploration licences for three mining blocks in Myanmar, becoming the first foreign firm to receive the green light after a new mining law was passed last December. A subsidiary of Chinese state-owned Guangdong Rising Assets Management, PanAust will have the right to explore and produce mineral resources in Hel […]

Foreign assistance vital in boosting energy in Myanmar

FINANCIAL and technical assistance from international governments and institutions will be as important as foreign direct investment (FDI) in order to boost Myanmar’s power sector development, an energy official has said. Win Khaing, a member of National Energy Management Committee (NEMC) and president of Myanmar Engineering Society, said at the 6th Myanmar Oil and Gas […]

Myanmar oil and gas: Going against the flow

For the first time since 2004, both the price Brent Crude and US crude have fallen below $30 a barrel. Many oil and gas production centres are floundering amidst the current crisis, yet one South East Asian nation is experiencing record growth in its energy sector. Over the past 24 months, significant foreign direct investment […]

World Bank Forecasts Drop in Burma’s Economic Growth

RANGOON — A World Bank report released Monday estimated that Burma’s economic growth for the 2015-16 fiscal year would slow, due in part to recent flooding and a slowdown in new investment. According to the Bank’s latest “East Asia and Pacific Economic Update,” Burma’s economy grew at 8.5 percent in real terms for the 2014-15 […]

Myanmar to Curb Some Investor Incentives, Presidential Aide Says

Myanmar’s parliament is likely to meet before the end of the year to approve legislation that would scale back a number of foreign-investment incentives the government now deems excessive, President Thein Sein’s top economic adviser said. Parliament, which is in recess as lawmakers campaign for Nov. 8 elections, will probably reconvene by early December, Aung […]

Foreign business takes stock of the NLD

As Myanmar prepares itself for historic elections in November, Daw Aung San Suu Kyi’s National League for Democracy (NLD) encourages voters to “vote for change”, a slogan that has left investors worried about what that would mean for their businesses. The uncertainty about the NLD’s economic policy stems largely from a campaigning environment in which […]