Myanmar surpasses FDI target of $6 bn in fiscal year 2016-17

“We have approved 135 foreign businesses according to the Foreign Investment Law during this fiscal year,” he said this week. “Meanwhile, we have approved FDI inflows of $262.59 million in the Thilawa Special Economic Zone, according to our SEZ Law. In total, we could approve $6.87 billion [Bt240 billion] this year.” Aung Naing Oo is […]

Fisheries exports reaches about $450 million: MoC

Myanmar earned about US$450 million from the export of fisheries products over the first ten months of this fiscal year, $76 million more than at the same time last year, according to official figures issued by the Commerce Ministry. The country exported $368.843 million worth fisheries products to international trade partners from private sector in […]

Singapore and China top in FDI

Singapore and China invested the most in Myanmar as of 31 October this fiscal year, according to the Directorate of Investment and Company Administration (DICA). Singapore stands at the top of the list with a foreign direct investment (FDI) of US$2,529.803million from April to the end of October this fiscal year, followed by China with […]

Emerald Green Project Promises to Improve Lives of Fishermen

AS PART OF effort to reduce rural poverty, an Emerald Green Project is being implemented in Thaton District, Mon State by the Ministry of Livestock, Fisheries and Rural Development, with plans to spend Ks60 million to improve the economic status of local fishermen. Under the programme, loans will be offered this year to residents living […]

BRT Lite Share Sales Re-start

Yangon Public Bus Company – operator of the new Bus Rapid Transit (BRT) Lite bus routes – has started a second round of shares sales, while the government has extended the application deadline for firms interested in rolling out the BRT system city-wide. The government set up Yangon Public Bus Company last year, using a […]

Foreign investment into lagging agriculture and fisheries sectors urgently needed: exporters

The next government should urgently seek investment in the country’s lagging and underfunded agricultural and fisheries sector, to help halt and reverse the decline in exports, traders said. Of the US$38.18 billion received in foreign investment over the past five years, a bare $208 million has been ploughed into agriculture, according to the Directorate of […]

Ayeyar Hinthar opens Ayeyarwady Farmers Development Bank

Ayeyarwady farmers could benefit as early as next year from a bank being set up to promote the development of agriculture, and eventually industry and fisheries. The regional government, with 15 partners of the Ayeyar Hinthar Companies Group, is launching the bank, known as the Ayeyarwady Farmers Development Bank, or Abank. Farmers can take out […]

Chinese giant works to win the people

Though the Kyaukphyu area is set for large-scale investments, it is in Rakhine State, which is also home to some of the country’s poorest communities. Kyaukphyu hopes to become a hub for the oil and gas industry and is to be home to one of Myanmar’s three Special Economic Zones – yet local residents risk […]

Fish producers face export fall

Fishery exports have failed to pick up so far this year after falling by more than expected last fiscal year, experts say. Poor weather, lack of equipment and shuttered fish farms led to a year-on-year decline of well over an expected US$100 million decline in exports. Consumer interest remains strong, but lower production has led […]

Foreign investment figures highlight China’s dominance

China’s long-held position as the biggest investor in Myanmar has been highlighted by government figures showing it has accounted for nearly a third of all approved foreign investment since 1988. The figures, obtained by Mizzima from the Myanmar Investment Commission, show that of the $43.735 billion in approved investment since 1988, Chinese companies accounted for […]