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Myanmar economy to grow by 6.6% in 2020: world bank

The Myanmar economy is projected to grow by 6.6 percent in 2020, according to the World Bank, a tad higher than its 6.5pc projection for this year. Economic growth is expected to further increase to 6.7pc in 2021 and 6.8pc in 2022. According to the annual World Bank East Asia and Pacific Economic Update, growth […]

More oil and gas investments expected next year

U Thaung Tun, Union Minister for Investment and Foreign Economic Relations, is expecting foreign direct investments in the offshore oil and gas industry to increase in 2020, once proposals for exploration and production are received, evaluated and approved. At the 30th regular meeting of the Private Sector Development Committee with Myanmar entrepreneurs on October 19, […]

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 […]

Myanmar wins award for research on biomass production

The Myanmar Aerospace Engineering University was selected among participants from 182 countries as this year’s winner of the Energy Globe Award in Japan. Myanmar’s research presented the concept, design and construction of the device for thermogravimetric measurements alongside the results from tests carried out on wood pellets. The main objective is to study the viability […]

More Singapore firms planning to invest in Myanmar in next two years

Singapore companies have big plans to expand in ASEAN over the next two years and Myanmar, with its growth potential and overall investment climate, is on the cards for many, according to a recent survey by the Singapore Business Federation (SBF). The survey, conducted from December 2017 to March 2018, collected views from 1036 Singapore […]

FDI has risen under the NLD: U Set Aung

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 […]

Daw Suu pitches Myanmar to ASEAN, vows to improve business environment

State Counsellor Daw Aung San Suu Kyi in Singapore yesterday sought to drum up investor interest in Myanmar, couching the country’s economy as “Southeast Asia’s final frontier market with innumerable investment opportunities.” Daw Aung San Suu Kyi was delivering her keynote speech at the 2018 ASEAN Business and Investment Summit in the city state, where […]

More foreign investments now likely in pearl farming industry

The Myanmar Pearl Law has been amended for the second time to allow foreign direct investments (FDI) in the sector, U Min Oo, managing director of the Myanmar Pearl Enterprise, told The Myanmar Times. According to U Min Oo, the pearl production sector is now among the extraction sectors that will be open up to […]

Puma Energy JV expands $10 mln capital for aviation fuel services in Myanmar

National Energy Puma Aviation Services Company, which is joint venture between Singapore-based Puma Energy and Myanmar Petroleum Products Enterprises under the Ministry of Electricity and Energy, made capital expansion of over US$10.204 million in aviation fuel import, storage and distribution businesses, according to the Directorate of Investment and Company Administration (DICA). “The government holds more […]

Myanmar targets FDI from East Asia in long-term investment plan

Myanmar is gunning for more foreign direct investments (FDI) from East Asia in the next 20 years under its new Myanmar Investment Promotion Plan (MIPP), U Than Aung Kyaw, deputy director general of the Directorate of Investment and Company Administration (DICA) told The Myanmar Times at a book launch in Yangon on Thursday. Besides strengthening […]