Rakhine receives funds from energy projects for education and infrastructure

Rakhine State has received over Ks760 million from the Shwe gas project and over US$0.8 million from the Southeast Asian oil and natural gas project for its education and basic infrastructure sectors, according to a report of a committee on implementing recommendations on Rakhine State. The report said the investment committee had been formed on […]

YSH’s real estate head upbeat on their Yangon landmark project

Cyrus Pun, Executive Director of Yoma Strategic Holdings Ltd, says the Yoma Central is considered one of the largest foreign direct investments in Myanmar’s real estate sector with an investment of more than US$700 million. In a recent interview with Mizzima, Mr Cyrus Pun said the landmark project is important for the real estate sector […]

With Myanmar’s Economic Future Looking Promising, AYA Bank Seeks Foreign Investors

Myanmar’s economy is one of the fastest-growing and most promising in Asia. Its dynamic business environment, along with its strong infrastructure, communications sector and flourishing consumer lifestyle have been key to the country’s development so far. Although Myanmar’s economic growth has slowed to 6.5 percent in 2016-17 from 7.3 percent in the previous year, projections […]

New Companies Law Submitted to Parliament

NAYPYITAW — The Myanmar government submitted a draft of the new Myanmar Companies Law to the Upper House on Thursday. The draft law combines elements of the Myanmar Companies Act of 1914 and the Special Companies Act of 1950, reworked in hopes of attracting foreign investment, said Deputy Minister for Planning and Finance U Maung […]

The Clock is Ticking for Myanmar Government to Show Real Progress

Myanmar is not the only country in ASEAN which attracts foreign direct investments (FDIs), Simon Tay, chair of Singapore Institute of International Affairs (SIIA), said during the sideline interview of the 2nd ASEAN-Myanmar Forum held in the commercial capital yesterday. He added that the critical thing is to see some real progress in the next […]

Myanmar Announces 10 Prioritized Areas for Investment

YANGON, June 28 (Xinhua)– Myanmar Investment Commission (MIC) has announced 10 areas which will be prioritized for investment by both local and foreign entrepreneurs, Myanmar News Agency reported Wednesday. The 10 prioritized areas for investment include agriculture, livestock and fishery, export promotion, import substitution, power, logistics, education, health care, affordable housing construction and establishment of […]

FDI Expected to Exceed $6bn

Total foreign direct investment (FDI) is expected to reach US$6.1 billion in 2017-18, according to the Directorate of Investments and Company Administration (DICA). Aung Naing Oo, the director-general of the DICA, said: “We draft our projects based on the National Comprehensive Development Plan of 2011-2030. Under the project, the FDI is set to reach up to US$140 billion between 2014 and 2030. In doing so, the average inflow of investment between 2016 and 2020 is set to hit US$6 billion annually.” Five years ago, the annual FDI was expected to reach US$4 billion but since 2016 it was US$6 billion. It was US$6.8 billion in 2016-17. In 2021, we would increase the estimation of our annual FDI inflow, […]

Fiscal Year 2017-18: a New Dawn for Economic Policies

​​ The new fiscal year will start on April 1, which also marks the start of new laws and economic policies for Myanmar. The new Myanmar Investment Law, which was recently passed, will come into effect on April 1 and its implementation and enactment will spell changes for the country’s businesses and investors. A developing […]

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 […]

Regions Can Approve up to US$5m Investments

​​ The maximum amount of investments which can be approved by regional and state governments has been set to US$5 million (K6 billion). Region and state investment commissions will now be able to approve proposals without having to seek permission from Myanmar Investment Commission (MIC), according to an announcement from MIC chair U Kyaw Win […]