National plan mooted for 2019-2020, gdp growth to hit 7pc

Parliament has approved the new National Plan law for fiscal 2019-20, which will be effective from October 1, 2019 to September 30, 2020. The National Plan is expected to help Myanmar’s GDP grow by 7 percent to K95.4 billion during the period compared to 6.8pc in fiscal 2018-19. Contributing to economic growth is the financial […]

Investments declined in 2017-18: MIC

Despite an increase in the volume of projects, total investment in value terms fell by around US$900 million in 2017-18 compared to 2016-17, U Thaung Tun, chair of the Myanmar Investment Commission (MIC), said in Parliament last week. In the 2017-18 fiscal year, Myanmar received $5.7 billion for 222 projects. Around $1 billion of the […]

Foreign investment exceeds $5 bn

Foreign investment volume reached more than US$5 billion (6.76 trillion kyat) as of the third week of December in FY 2017-2018, reaching above 90 per cent of the target for foreign investment for the year, a source from the Myanmar Investment Commission said. The Myanmar Investment Commission approved 174 businesses and nearly $4.15 billion up […]

Myanmar Investment Commission approves 31 foreign and local investments

The Myanmar Investment Commission (MIC) has approved a total of 31 foreign and local investments in Myanmar in October and November, according to U Aung Naing Oo, the Director-General of the Directorate of Investment & Company Administration (DICA), quoted in state media. The MIC gave the green light to 24 foreign direct investments (FDIs) worth […]

Foreign firms have invested over $1bn in Thilawa SEZ

Foreign businesses invested more than US$1.075 billion in the Thilawa Special Economic Zone between November 2014 and June 2017, with over $773 million, or 71 per cent, in industrial the industrial sector, according to the Directorate of Investment and Companies Administration. Among the remainder of the foreign investment, $101.2 million went to the commodity trading […]

$1.8b FDI approved for 2017-18 so far

The Myanmar Investment Commission (MIC) has approved a total of US$1.85 million worth of investments from 66 foreign businesses and K501 billion worth of investments from 24 Myanmar citizens for fiscal year 2017-18. In June alone, the MIC approved investments worth US713.43 million from 22 foreign businesses and K11.425 billion investment from four Myanmar citizens, […]

Japan weighs in on Dawei SEZ project

Japan pledged to take part in Dawei Special Economic Zone project and the Italian-Thai company plans to operate smaller projects, according to Aye Myint, chairperson of the special working committee for Dawei SEZ. “We’re holding talks with the Italian-Thai and its partner company to operate some smaller projects such as roads, ports, housing, mini industrial […]

Singapore tops list of foreign investors in Myanmar

YANGON—Singaporean companies have been expanding their investments in Myanmar sectors such as energy, construction, hotels and tourism, agriculture and the industrial sector, making it the largest foreign investor in the country, according to the Directorate of Investment and Company Administration (DICA). DICA’s statistics for last month show that overall foreign investment reached more than US$ […]