Foreign firms have invested over $1bn in Thilawa SEZ

Foreign businesses invested more than US$1.075 billion in the Thilawa Special Economic Zone between November 2014 and June 2017, with over $773 million, or 71 per cent, in industrial the industrial sector, according to the Directorate of Investment and Companies Administration. Among the remainder of the foreign investment, $101.2 million went to the commodity trading […]

Hpa-an Industrial Zone attracts only two foreign firms in six years

Only two foreign firms have invested in Hpa-an Industrial Zone in Kayin State between 2010 and 2016, according to the Kayin State Chamber of Commerce and Industry. Those foreign firms from Thailand and Japan are joint-ventures with local entrepreneurs engaged in the garment and wool enterprises, it is learnt. Thai entrepreneurs recently visited the zone, […]

Foreign firms eye new Myanmar telecoms licence despite inexperienced partners

Jan 25 Seven foreign firms are interested in bidding for Myanmar’s fourth telecoms license, a government official said on Monday, as the prospects of one of the region’s least connected nations outweigh the challenges of a partnership involving obscure local firms with scant industry experience. Chit Wai, deputy permanent secretary of the Ministry of Communications […]

Local, foreign firms to upgrade Yangon pharmaceutical factory

YANGON – To boost medicine production, Myanmar’s Ministry of Industry plans to upgrade Pharmaceutical Factory No 1 in Yangon in cooperation with local and overseas companies. At present, entrepreneurs in Myanmar and abroad can bid for contracts to build the facility and install equipment. Interested companies must send an Expression of Interest (EOI) to the […]

Foreign firms sign more oil exploration deals with Myanmar

YANGON, Dec. 6 (Xinhua) — Three Indian companies reached more production-sharing contracts with Myanmar on cooperation in offshore oil and natural gas exploration in Nay Pyi Taw over the last two days. Under the contracts, the Oil India Ltd, Mercator Petroleum Ltd, Oilmax Energy Pvt Ltd of India and Oil Star Management Service Co Ltd […]

Myanmar allows investment by 16 local, foreign companies in October

YANGON, Nov. 5 (Xinhua) — Myanmar allowed 12 local companies and four foreign firms to make investment in the country last month, the Directorate of Investment and Company Administration said on Wednesday. Of the 12 national-owned companies, two are expected to invest in local and foreign air transportation services, while others will build and run […]

Active black market discourages foreign firms, says minister

The prominence of the domestic black market continues to discourage prospective foreign investors from entering the country, according to Minister of Commerce U Win Myint. Foreign firms are worried that black market goods are often sold at unfairly low prices because importers avoid paying import duties and taxes as well as following proper regulations, and […]

Huge growth potential for Myanmar’s insurance industry

One in 86 people in Myanmar has insurance policies. This means huge growth potential, but not everyone is convinced that the country is ready to open the market to foreign firms. YANGON: Myanmar may only allow foreign insurance firms to operate in the country in 2018. The government had earlier signalled it may open the […]

YTP hunting for partners as private launches get close

Yatanarpon Teleport public company (YTP) is still negotiating a potential partnership with foreign firms, according to CEO U Shane Thu Aung. As one of four firms to be licensed to provide mobile coverage in Myanmar, YTP began negotiations with Thailand’s True at the end of 2013 but has since widened its discussions, he said. “We […]