The Myanmar Investment Commission (MIC) permitted 12 enterprises which are in line with investment regulations and laws in the current fiscal year 2017-2018, according to a recent meeting of MIC. A total of 4,343 job opportunities are created from those permitted enterprises. They consist of two Myanmar citizen enterprises, two foreign enterprises and eight joint […]
Mandalay’s development hampered by red tape: survey
September 4, 2015 by
Based on responses from the city’s business community, the survey says that Mandalay and its surrounding states and regions have better transportation links with major trading partners China, India and Thailand than its main rival, Yangon. The survey, which asked local companies how the city could develop and what challenges they faced, was conducted last […]
Myanmar will host 8 million visitors by 2020
April 15, 2015 by
YANGON, 10 April 2015: Myanmar’s Ministry of Hotels and Tourism says the country’s tourism master plan is now underway following the recommendations of the Asia Development Bank and the Norwegian government that funded and wrote the plan. Eleven Myanmar media quoted tourism minister, Htay Aung, as saying the master plan includes 38 projects, requiring an […]
Best Western Hotel opens in Yangon’s Chinatown
April 1, 2015 by
Best Western International has launched a new hotel in Yangon’s Chinatown, the second of its properties in Myanmar after the opening of the Best Western Green Hill Hotel in Yangon in late 2013. Located in the heart of the bustling downtown district, the hotel consists of 91 deluxe rooms, all featuring such amenities as flat-screen […]
Yoma shares surge on lease extension for key Myanmar site
March 16, 2015 by
SINGAPORE — Property developer Yoma Strategic Holdings has won approval from the Myanmar Investment Commission for a lease extension that will let it redevelop the former headquarters of the Burma Railways Company into a five-star hotel. The approval, obtained after protracted negotiations with the authorities, yesterday drove shares of Singapore-listed Yoma sharply higher amid heavy […]
Capturing opportunity: Myanmar’s hotel and tourism boom
March 13, 2015 by
Since Myanmar liberalized its economy in 2011, the country has experienced a surge of foreign direct investment and visiting tourists. Official government figures show that tourist arrivals have risen from below 1 million in 2011 to over 3 million in 2014, with the Ministry of Hotels and Tourism setting an ambitious target of 4.5 to […]
Minister of Energy to chair investment commission
June 2, 2014 by
Minister for Energy Zayyar Aung, who has a close relationship with President Thein Sein, has been appointed as chairperson of the influential Myanmar Investment Commission (MIC). In a new reshuffle, a number of top ministers and government officials, including Htay Aung (Hotels and Tourism), Win Tun (Environment and Forestry) and Tun Shin (Attorney General), were […]
Foreign investment figures highlight China’s dominance
October 30, 2013 by
China’s long-held position as the biggest investor in Myanmar has been highlighted by government figures showing it has accounted for nearly a third of all approved foreign investment since 1988. The figures, obtained by Mizzima from the Myanmar Investment Commission, show that of the $43.735 billion in approved investment since 1988, Chinese companies accounted for […]
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