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Myanmar gears up investment promotion with ‘bold’ plan

Though some international companies are still in a wait-and-see mood before pouring their money into Myanmar, the nation remains confident that it can attract heavy investment this year, thanks to its ambitious Myanmar Investment Promotion Plan (MIPP). Aung Naing Oo, permanent secretary at the Ministry of Investment and Foreign Economic Relations, said at a workshop […]

Foreign business leaders join call for investments in Myanmar

The leaders of seven foreign business groups in Yangon have signed an open letter calling on investors abroad to put their money in Myanmar, stressing the critical role foreign direct investment (FDI) plays in the country’s transition. “Having been in isolation for so long, Myanmar now requires the broad regeneration of its economy to meet […]

NYDC – Creating an Efficient and Accessible System of Public Transportation

CEO’s Weekly Blog – 8 October 2018 Creating an Efficient and Accessible System of Public Transportation There has been a lot of press reports and comments on social media questioning the validity of NYDC. Some have questioned whether NYDC is a properly approved entity, whether budget has been approved, or if funds are used appropriately. […]

Myanmar takes new measures to promote foreign investment

YANGON — Myanmar has reformed its investment commission recently and will soon enforce a new companies law in a bid to promote foreign investment. The new Myanmar Investment Commission was reorganized with 13 members with Minister at the Office of the Government U Thaung Tun as chairman. Along with the enactment of the new Myanmar […]

Uncertainty for economy remains despite pick-up in growth: World Bank

Despite the strong performance and favourable economic outlook for Myanmar, risks have emerged that could affect business confidence and derail future developments if not addressed, according to the World Bank’s Myanmar Economic Monitor released yesterday. The report said that the country’s economy performed better in 2017-18 amid growing global and domestic uncertainty, partially offsetting slower […]

Myanmar needs ‘more liberalisation’

Though Myanmar has liberalised some policies in recent years to attract more foreign direct investment, its FDI regulations are more restrictive than in most peer economies in Southeast Asia, according to the Asian Development Bank’s new report on the regional economy launched on April 11. Yumiko Tamura, principal country specialist at ADB Myanmar Resident Mission, […]

The role of AustCham Myanmar in the Myanmar economy

Australia is proving an important and growing trading and investment partner for Myanmar. The bilateral trade between Australia and Myanmar reached US$144 million in 2016, according to Myanmar’s Ministry of Commerce. Ms. Jodi Weedon is CEO of the AustCham Myanmar (Australia-Myanmar Chamber of Commerce), which was set up in March 2013. In a recent interview […]

Better legislation to attract Austbusinesses to enter Myanmar

Though Myanmar has yet to receive investment from Australia in fiscal year 201718, the nation’s improved business regulations should arouse Australian investors’ interest, according to a diplomat. Nick Cumpston, economic counsellor at the Australian Embassy, said in an exclusive interview that the Union Parliament’s recent passage of the new Myanmar Companies Law could spur Australian […]

China Faces Increasing Competition in Myanmar

Chinese domination of Myanmar can not be denied, as China is Myanmar’s top trading partner, and over the past three decades has also emerged as the single largest source of foreign direct investment (FDI) in the southeast Asian state. Myanmar-China bilateral trade had already reached $5.5 billion in the first half of the present fiscal […]

Beyond China: Nation must diversify FDI

While for a long time the world has been focussed on political reforms in Myanmar during its transition from military rule to a democracy, the country has also witnessed a significant economic transformation. The most obvious sign of this is the sudden jump in foreign direct investment (FDI), from US$4 billion (K5.46 trillion) in 2013-14 […]