Lawyer: US man had Myanmar’s permission to grow cannabis

YANGON, Myanmar (AP) — The arrest of an American man in Myanmar for growing 20 acres of cannabis plants is unjust because authorities were aware that his company was doing scientific research and police were confusing hemp with recreational marijuana, his lawyer said Friday. Attorney Thein Than Oo said that John Fredric Todoroki and the […]

Myanmar hires China Communications to survey bold new city

Myanmar’s plans to build a city twice the size of Singapore took a step forward this week with the signing of a framework agreement with China Communications Construction Company (CCCC) to conduct preconstruction surveys as a prelude to the $1.5bn first phase of the scheme. It may not be CCCC, a huge state-owned company, who […]

Yangon works with China to lay down development plan for new city project

New Yangon Development Company (NYDC) on Monday signed a framework agreement with China Communications Construction Company (CCCC) under which the two parties will carry out the necessary surveys and studies needed to develop and implement a new city in Yangon. NYDC is backed by the Yangon Regional Government, while CCCC is one of the largest […]

Announcement of Myanmar Investment Commission, Invitation to invest within Kayin State

1. The Myanmar Investment Commission has been holding Investment Fairs, rotating yearly, across the States and Regions in order to promote and invite investment for balanced economic development. Accordingly, this year’s Investment Fair will be held in Hpa-An Township, Kayin State on 24th November, 2017. 2. Investing in Kayin State would be beneficial for investors […]

Twelve enterprises recently permitted by MIC

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 […]

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, […]

Singapore and China top in FDI

Singapore and China invested the most in Myanmar as of 31 October this fiscal year, according to the Directorate of Investment and Company Administration (DICA). Singapore stands at the top of the list with a foreign direct investment (FDI) of US$2,529.803million from April to the end of October this fiscal year, followed by China with […]

Kyaukphyu SEZ: Economic Reality or Pipedream?

The development of a special economic zone (SEZ) around Kyaukphyu in Myanmar’s Rakhine State could move closer to reality before the end of the year with the naming of tender winners for the development of factories, new housing and infrastructure. Twelve foreign and domestic firms have been shortlisted by the SEZ development committee, which failed […]

Kyaukphyu SEZ ‘Key’ to China Business Corridor, But Doubts Remain

Kyaukphyu port on Myanmar’s western coast could play a key role in a Beijing-led economic corridor plan linking neighbors India, Bangladesh and China. But economists and foreign policy analysts are divided over whether the Naypyidaw government’s ambitions for a special economic zone (SEZ) around Kyaukphyu in Rakhine State are viable. The so-called BCIM Corridor, for […]

Desperately seeking bidders: Dawei SEZ

The massive Dawei project has taken a new twist, as no interested bidders have applied for concessions opened in February for three jobs: a dual-lane highway linking Thailand with the site in eastern Myanmar, a small port, and a 30,000-rai industrial estate. “The terms of reference for the three projects should be revised to make […]