Over the last year, Myanmar’s energy sector stumbles in right direction

Home to one of the world’s oldest oil and gas industries, oil exploration in Myanmar began in the early Bagan era. During the reign of King Anawrahta in the Bagan Era, evidence shows that the Buddha’s Three Teachings were coated with oil to prevent damage. With the nationalisation of the oil industry in 1963, the […]

New industrial zone projects to be developed in Yangon

The government is planning to develop the new industrial zone projects in Yangon as foreign investors have to pay higher land rental, according to the pre-briefing on Yangon Investment Forum 2018, at Cooperative Business Centre in Yangon on May 2. Myo Khaing Oo, Joint-Secretary of Yangon Region Investment Committee said: “There currently are 30 industrial […]

Myanmar businesses join hands for FDI

THE MYANMAR Investors Development Association (MIDA), an alliance of large-scale local enterprises, will help the government achieve its economic goals by actively engaging with local and foreign investors, according to its chairman Khin Maung Aye. ”For our country to grow further, we need to create thousands of jobs for our citizens. Job creation entirely depends […]

Local and foreign investors invited to No.21 Heavy Industry (Thaton)

No.21 Heavy Industry (Thaton) of the Ministry of Industry in Thaton Township, Mon State, will go into partnership with local and foreign entrepreneurs, according to ministry sources. Interested local and foreign companies are invited and to send an expression of interest (EOI) to the management section of No.2 Heavy Industry under the Ministry of Industry. […]

Myanmar improving but still ‘super challenging’ for business: Study

[YANGON] Family-run firms, a lack of transparency and murky money networks in the former junta-led country continue to make doing business in Myanmar “super challenging”, a new study mapping the country’s top companies said on Monday (March 26). Myanmar’s economy remains dominated by military firms and an elite of crony capitalists – a legacy of […]

Thai investors buoyed by CLMV investment climate

Following the strong economic growth in Asean, especially in CLMV countries (Cambodia, Laos, Vietnam, and Myanmar), Thai investors have expanded their regional investment by focusing on alternative energy, food and agriculture processing, tourism, and service business. According to a report by the Bank of Thailand, as of September 30, 2017 Thai investors showed outstanding direct […]

Mayor promises speedy review of high-rise projects

Yangon Mayor U Maung Maung Soe said the government did not suspend any additional construction projects involving high-rise buildings on March 6. He made the comments in the regional legislature. MP U Hla Thein from Tamwe township asked if the government has plans to greenlight the construction projects. “Suspending construction projects which have already started […]

Vacant plots in two Yangon-area industrial zones to be leased out

Some of the vacant land plots in Hlaingtharyar Industrial Zone-3 and Shwepyithar Industrial Zone-1 will be leased out to local and foreign investors in dollars, according to the Urban and Housing Development Department. The department will lease 3.5 acres of land in the Hlaingtharyar zone and 2.5 acres in the Shwepyithar zone. A supervisory committee […]

Foreign investments to be invited for the upgrade of jetties

Foreign investments will be sought to upgrade jetties along the coast into international-standard ports as additional capacity is needed to supplement the Yangon port, which now handles 90 per cent of sea-based goods transport. “Jetties along the coast are mainly used for handling domestic cargo. They will become international ports when there is an inflow […]

International community eyes investing in industrial zones in Yangon

The international community has shown interest in establishing industrial zones in Yangon Region, according to the Directorate of Investment and Company Administration (DICA). “A lot of foreign investors want to set up industrial parks,” said Than Aung Kyaw, deputy director general of DICA. During the 14th regular meeting between Vice President Myint Swe and local […]