Myanmar boosts incentives for infra development, labour-intensive projects

THE MYANMAR Investment Commission, a government body to facilitate both foreign and local investment, has planned plans to provide more incentives for investors in the two areas that are crucial to the country’s growth, labour-intensive industries and infrastructure development, a senior official said. According to Aung Naing Oo, secretary of Myanmar Investment Commission and director […]

Myanmar woos investments in infrastructure, transport and energy

With the recent enactment of the investment law and lifting of sanctions, Myanmar has become friendlier to foreign investment, particularly in infrastructure, transport and energy, according to its state investment agency. The Myanmar Investment Law was passed on Oct. 18 by combining the country’s foreign investment law and citizen investment law, providing income tax exemptions […]

Myanmar Confident of Topping $6 Bn FDI

​​ THE MYANMAR Investment Commission is confident of reaching its $6 billion (Bt216 billion) target for foreign direct investment in the 2016 fiscal year to March 31, although the nine-month figure accounts for only slightly half of the target. Despite the decline in FDI inflow, Aung Naing Oo, director-general of the Directorate of Investment and […]

Promising Future to Improve Australia’s Interest in Myanmar: Chamber

​​ Although Australia’s investment in Myanmar is less than US$130 million, the country has many rooms for improvement to receive the influx of Australian investors thanks to its promising future, said Jodi Weedon, chief executive of Australian-Myanmar Chamber of Commerce Weedon said in a recent interview that Myanmar’s recent political and economic reforms led the […]

Foreign Investment Surge Not Felt in Local Banks

​​ The government needs to monitor whether foreign investors are using their money or not as foreign currency has yet to inflow into local banks, Khin Maung Aye, chair of Myanmar Bank Association. “Foreign investors are bringing their investment into the country at a time when the Myanmar Investment Commission is giving the green-light to […]

Myanmar Hopes to Overtake Singapore Economically in 20 Years’ Time: Suu Kyi

SINGAPORE: Myanmar hopes to overtake Singapore’s economy in 20 years’ time and the country is hoping that Singapore will lend a helping hand, said Myanmar State Counsellor Aung San Suu Kyi on Wednesday (Nov 30). Speaking at the IE Singapore’s Global Conversations business dialogue, Ms Suu Kyi, who is in Singapore for a three-day official […]

Myanmar’s New Investment Law Regulations to Take Effect Next April

NAY PYI TAW, Oct. 27 (Xinhua) — Myanmar’s new Investment Law will take effect with its regulations on April 1 next year, an official of the Directorate of Investment and Company Administration (DICA) told the media in Nay Pyi Taw Thursday after a Consultation Workshop for Implementing Regulation of the Myanmar Investment Law was held. […]

Investment Law Rules and Regulations Released by March

NAYPYIDAW — Rules and regulations for the newly enacted Myanmar Investment Law will be released in three months at the earliest and by the end of March next year at the latest, according to U Maung Maung Win, deputy minister of national planning and finance. The law, enacted by President U Htin Kyaw last week, […]

Companies Act in Government’s Sights

Now that the Myanmar Investment Law has been passed by both houses of parliament, attention turns to the new Myanmar Companies Act, which senior business sector figures say will be key in improving corporate governance. The investment law, which will combine and replace the Foreign Investment Law and the Myanmar Citizens Investment Law, was passed by […]

Illegal foreign-run businesses in Yangon MPs’ crosshairs

Amid much talk of luring outside investment to Myanmar, Yangon Region lawmakers have indicated that they want to see greater scrutiny of foreign operators of illegal businesses in the commercial capital. Regional MPs yesterday approved a proposal to debate cracking down on these foreign entrepreneurs next week. Parliamentarian U Win Maung (NLD; Hlaing Tharyar 1) submitted the […]