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New ministry, ‘single-window’ system to help investors do business

Myanmar is tuning up efforts to draw investments into the country. In Parliament Monday, the establishment of the new Ministry of Investment and Foreign Economic Relations was approved, paving the way for better coordination between related ministries and organisations on local and foreign investments and development projects implemented with foreign aid or loans. The newly […]

Hong Kong Firm Close to Finalizing New Yangon City Proposal

Hong Kong-listed China Communications Construction Co. Ltd (CCCC) has nearly finalized its proposal for the development of US$1.5 billion (2.4 trillion kyats) worth of initial infrastructure for the controversial “New Yangon City” project across the Yangon River from Myanmar’s commercial capital, according to a government body established to oversee the project. New Yangon Development Company […]

Myanmar’s poorest state beckons investors

CHIN state’s underdeveloped infrastructure presents great opportunities for domestic and foreign investors if they do their homework, says a report that looks into business prospects in Myanmar’s poorest region. Min Zaw Oo, director of Chin State at the Directorate of Investment and Company Administration, said investors should not hesitate to invest in Chin state where […]

Suu Kyi challenges investors to help Myanmar catch up with Singapore

Myanmar’s de facto leader Aung San Suu Kyi on Monday spoke of her hope for the country to catch up to Singapore’s stage of development within 20 years as she urged foreign investors to help her achieve that mission. Speaking at a business forum on the sidelines of the Asean summit here, Suu Kyi referred […]

More foreign investments now likely in pearl farming industry

The Myanmar Pearl Law has been amended for the second time to allow foreign direct investments (FDI) in the sector, U Min Oo, managing director of the Myanmar Pearl Enterprise, told The Myanmar Times. According to U Min Oo, the pearl production sector is now among the extraction sectors that will be open up to […]

Four retail-wholesale JVs permitted to operate

Six months after allowing foreign investors to register and participate in the domestic retail and wholesale sector in May, the Ministry of Commerce (MOC) has so far permitted four joint ventures between foreign and local investors Under notification 25/2018 issued on May 9, the MOC allowed 100 percent foreign-owned businesses to operate in the retail […]

Puma Energy JV expands $10 mln capital for aviation fuel services in Myanmar

National Energy Puma Aviation Services Company, which is joint venture between Singapore-based Puma Energy and Myanmar Petroleum Products Enterprises under the Ministry of Electricity and Energy, made capital expansion of over US$10.204 million in aviation fuel import, storage and distribution businesses, according to the Directorate of Investment and Company Administration (DICA). “The government holds more […]

Thinking global, acting local

They were born at a time when Myanmar was in the throes of irreversible change; when the dictatorship that gripped the country for decades was losing its stranglehold on the people’s unrelenting and uncompromising bid to regain their freedom. They were too young to understand the 1988 Uprising, but some of them were already old […]

Still no new takers in deregulated domestic fuel market

Despite the relaxation of regulations for foreign investors to enter the fuel import and distribution business in Myanmar, no new companies have entered the market over the last year, said U Thant Sin, vice chair of Supervisory Committee for Petroleum and Petroleum Product Enterprises at a press conference on October 11. Previously, the Ministry of […]

Myanmar to hold investment fairs to spur development

Myanmar is making preparations to hold a business forum in Mandalay, the country’s second largest city in the north, on Nov. 9, aiming to promote trade and investment for the development of Mandalay region, according to the Directorate of Investment and Company Administration (DICA) Monday. Such a forum is partly aimed at driving development more […]