Foreign direct investments (FDI) have increased under the NLD government, said U Set Aung, deputy minister for planning and finance. “The total approved FDI during the two years from April 2016 to the end of March 2018 under the current government is 16 percent of the total FDI approved during the entire period from 1988 […]
Myanmar allows up to 80% of foreign investment in agriculture sector
August 6, 2018 by
Foreign businesses have been allowed to invest up to 80 percent in Myanmar’s agriculture sector instead of 49 percent, according to Myanmar Investment Commission (MIC). “Previously, the agriculture sector seemed to protect local businesses. At that time, a foreigner was allowed to invest 40 percent while a national had the chance to invest 51 percent. […]
MIC issues 13 new business permits in August, including one for beer
September 8, 2017 by
The Myanmar Investment Commission (MIC) has approved the issuance of 13 permits, including one for a beer joint venture in Mandalay. Eight foreign businesses and 5 Myanmar citizen businesses were approved at a recent 12/2017 meeting, according to Deputy Director General of Directorate of Investment and Company Administration (DICA) U Than Aung Kyaw. This includes […]
Myanmar moves forward
August 24, 2017 by
The government of Myanmar is about to take dramatic steps to spur economic development and improve government efficiency. Several significant cabinet changes are in the pipeline, detailed economic strategies are being finalised and a shake-up in the bureaucracy is already under way. These planned changes in ministerial personnel are aimed at strengthening the government’s leadership […]
Ticketing start-up Bookme expands from Pakistan to Myanmar
December 3, 2015 by
Pakistani start-up Bookme, an online booking platform for movies, events, and bus services, announced today that it will be starting operations in Myanmar. The start-up, an alumni of Lahore-based incubator Plan9 and accelerator PlanX, is partnering with local company Lychee Ventures to bring bus and cinema ticketing services to Yangon. Bookme was valued at $4 […]
Novoair starts flight to Yangon
December 3, 2015 by
Novoair yesterday started an international flight to Yangon in Myanmar. The airline will run three weekly flights between Dhaka and Yangon on Sundays, Tuesdays and Fridays with Embraer ERJ145 aircraft, the carrier said in a statement. The airline will charge Tk 22,222 for a two-way ticket, according to the statement. Novoair is also offering a […]
Foreigners May Soon be Able to Trade Goods in Myanmar
September 30, 2015 by
There are plans to allow foreign investors to trade goods inside Myanmar, a sector currently under heavy restrictions, said Dr Maung Aung, permanent secretary of the Ministry of Commerce, but he conceded that the exact time when this will come into effect has not been determined. Foreigners are allowed to sell finished products out of […]
Yangon office rents fall by 20 per cent
August 31, 2015 by
Office rents in Yangon have begun to fall for the first time in four years as foreign firms adopt a wait-and-see attitude ahead of the election, according to a research company. New Crossroad Asia (NCRA) quoted Robin Aung Soe Naing, manager of Pronto Services, as saying that in early 2015 office rents fell by 20 […]
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