How Myanmar’s Foreign Policy Is Likely to Evolve in the NLD’s Second Term

<a href=”” target=”_blank”><img src=”” width=”600″ height=”250″ /> </a> Before the November election, Myanmar received three high-level visits from China, Japan and India. In October, a US trade delegation also visited, meeting State Counselor Daw Aung San Suu Kyi and senior ministers. The US delegation said it hoped to boost post-coronavirus investment in the country and […]

Investment applications to go online in Myanmar

The Directorate of Investment and Company Administration (DICA) will launch an Online Investment Application function to facilitate the investment process with the aim of attracting responsible investors, said U Thant Sin Lwin, Director General of DICA. The new function permits companies to carry out the process for proposed investments online without having to physically go […]

Myanmar:Kyobo Life receives green light to start ops next year

Kyobo Life Insurance will be able to start selling insurance products in Myanmar by the end of next year after receiving business approval from the Myanmar government. Kyobo Life Insurance will be the first Korean life insurance company to enter the country after Myanmar’s local government started allowing foreign insurance companies to enter its local […]

Despite Current Economic Fallout in Myanmar, ADB Forecasts a Bounce

YANGON — Although Myanmar’s GDP growth has fallen to 1.8 percent due to the effects of COVID-19, the Asian Development Bank (ADB) has reported that growth is forecast to bounce back to 6 percent in 2021. The bank’s Wellness in Worrying Times: Asian Development Outlook 2020 forecasts Myanmar’s GDP growth for the fiscal year ending […]

DICA, MIC issue guidelines for returning foreign executives

The Directorate of Investment and Company Administration (DICA) and the Myanmar Investment Commission (MIC) has issued guidelines on international visitors who want to return to Myanmar to conduct urgent business during the pandemic. The two organisations have requested the government to allow foreign employees who are working in companies registered with the MIC and Myanmar […]

Foreign direct investments in Myanmar for fiscal 2019-20 exceed target

Myanmar will exceed its foreign direct investment target (FDI) of US$5.8 billion in fiscal 2019-20. said U Thant Sin Lwin, Director General of Directorate of Investment and Company Administration. As at September 7, FDI was more than US$ 5.3 billion. The fiscal year will end on September 30. A total of 234 foreign investments were […]

Myanmar Sets Out Re-entry Rules for Foreign Staff

YANGON—As Myanmar recorded its largest-ever daily spike in COVID-19 cases, the government’s investment agencies announced the criteria for foreign staff seeking to re-enter the country. Companies have recently submitted several applications to the Myanmar Investment Commission (MIC) and Directorate of Investment and Company Administration (DICA) to allow the re-entry of their foreign experts via relief […]

Myanmar govt takes steps to legalise foreign alcohol imports

Businesses dealing with the imports of foreign alcohol are required to obtain a government A1 tax stamp on products imported before a ban on foreign liquor was removed in May this year, the Internal Revenue Department (IRD) announced on August 17. The stamping of illegal foreign alcohols will be carried out as a One Stop […]

Mandalay’s business ‘match-making’ service gains traction

The Mandalay Region Chamber of Commerce and Industry’s effort to help foreign investors link up with local companies for possible cooperation is generating many enquiries, said U Okkar Kyaw, the group’s secretary. Many of the inquiries to the project, which was initiated at the end of January, concerned investment cooperation, he said. The chamber also […]

Foreign investment inflows to double: Myanmar govt

Approved foreign direct investment (FDI) into Myanmar is expected to grow this year, the Myanmar Investment Commission (MIC) says. Already, approved FDI into Myanmar in the first three months of fiscal year 2019-20 is double what it was in the same period in the previous fiscal year, the commission said. “Currently, FDI in the country […]