32 foreign investment proposals under scrutiny

The Myanmar Investment Commission (MIC) says it is scrutinising 32 foreign investment proposals worth US$1.5 billion and 20 domestic proposals worth Ks492 billion. Aung Naing Oo, the secretary of the MIC, said: “These proposals were made under the old investment law. According to the new law, the MIC has received 26 foreign investment proposals worth […]

Japan’s IHI inaugurates heavy concrete factory joint venture in Myanmar

IHI Corp. held an opening ceremony Sunday for its heavy concrete factory in Myanmar, becoming the first Japanese plant producing pre-stressed concrete products in Southeast Asia’s newest emerging market. The Tokyo-based heavy industry company, in partnership with Myanmar’s Construction Ministry, opened the $12.2 million facility in the Myaungdagar Steel Industrial Zone in Hmawbi, located about […]

Foreign investment booms in Myanmar telecoms

Overseas companies spent big on building mobile phone infrastructure in Myanmar over the past year, while they took a break from exploring oil and gas. Foreign investment in Myanmar’s transportation and telecommunications sectors surged to $3.08 billion for the year ended March, a 60% jump. In contrast, spending in the gas and oil industry — […]

Thai-Myanmar council pushes for more ties and investments

Thai businesses are ramping up ties with their Myanmar counterparts in five main areas — agriculture, border trade, energy, industrial development and tourism — to tap into vast investment opportunities in the neighbouring country. Panitarn Pavarolavidya, chairman of Thai-Myanmar Business Council, said the council’s first meeting held in Yangon on Feb 3 focused on the […]

Myanmar Set to ‘Easily’ Reach $7bn in Foreign Investment This Fiscal Year

​​ Foreign investment has reached $5.78 billion for this fiscal year so far, meaning the country is all but guar­anteed to hit its target of attracting $6 billion of in­flows, and is very likely to exceed it. U Aung Naing Oo, Di­rector General of the Di­rectorate of Investment and Company Admin­istration, indicated last week that […]

Telecom sector attracts most foreign investment in Myanmar in 2016

Telecom sector topped the foreign investment line-up of Myanmar with 47.07 percent of the total investment flowing into the country in the fiscal year 2016-2017, according to the statistics of Myanmar Investment Commission (MIC) Tuesday. The telecom sector was followed by industrial sector with 25.5 percent and the rest went to power, hotel and construction […]

Foreign investment slumps by nearly US$ 650 million

Foreign direct investment (FDI) as of the end of November in the current fiscal year slumped by nearly US$650million when compared to the similar period last year, according to statistics released recently by the Directorate of Investment and Company Administration (DICA). In the same period, FDI of US$3,943.184million entered Myanmar in the 2015-2016 fiscal year, […]

MIC Working to Avoid Line Ministry Approval for Investments

The Myanmar Investment Commission (MIC) is working on guidelines that would allow foreign investors to avoid the time-consuming process of asking government ministries for permission under the new Myanmar Investment Law. Receiving a green light from line ministries is already a “big barrier” for investors in Myanmar, whereas dealing directly with MIC takes much less […]

Foreign Investment Falls More Than 50pc Compared to Last Year

Foreign investment into Myanmar has fallen by more than 50% to $1.4 billion in the six months to the end of September, according to the Myanmar Investment Commission, which nonetheless remains optimistic about the rest of this fiscal year. In the first half of the 2015-2016 fiscal year overseas investors pledged $3 billion, but that […]

Business lobby calls for U.S. to drop sanctions on Myanmar

WASHINGTON — The U.S. business lobby says it is high time to drop the remaining U.S. sanctions on Myanmar, but human rights activists and U.S. lawmakers say not so fast. Former political prisoner Aung San Suu Kyi is now running the government after winning elections. Still, the military continues to wield considerable power. That poses […]