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Myanmar to lure investments in healthcare, agri and industry

Myanmar will focus on drawing investments into healthcare, agriculture, livestock and fisheries and industrial zones in the wake of COVID-19, said U Thant Zin Lwin, Director General of the Directorate of Investment and Company Administration. “We will prioritise attracting investors in these three sectors after experiencing COVID-19 this year. In healthcare for example, businesses that […]

Desperate times for independent media as COVID-19 savages a fragile industry

Private print and online news organisations were already under pressure when COVID-19 struck and some will not survive the economic fallout of the pandemic. By NAW BETTY HAN | FRONTIER The COVID-19 pandemic has created enormous challenges for news media organisations, ranging from lost advertising revenue as businesses close or suspend services, to trying to […]

Myanmar to revamp governance of industrial zones under new law

Legislators in Myanmar have approved a long-awaited law governing industrial parks that grant regulatory bodies new powers to punish polluters and land speculators. Lawyers and experts, however, warn that effective governance will depend on enforcement and accompanying regulations, which have yet to be announced. Enacted by the Hluttaw on May 26, the Industrial Zone Law […]

Thai developer invests $1bn to put Myanmar industry on global map

NAYPYITAW — Thai industrial estate developer Amata Corp. plans to build an industrial complex with an investment of $1 billion in Yangon, Myanmar’s biggest city. The complex will provide important industrial infrastructure in a nation with few global-standard industrial zones suitable for foreign companies. Amata recently signed a land lease agreement and joint venture agreement […]

Mandalay to boost traditional textile and weaving industry

The government is set to boost the region textile and weaving industry with the drafting of a strategy aimed at modernising the sector, an official of a local textile association said. Daw Myint Myint Than, vice chair of the Mandalay Textile and Weaving Manufacturers Association, said two meetings have been held with the Ministry of […]

New LED lights to brighten Yangon streets

The Yangon Electricity Supply Corporation (YESC) will be solely responsible for maintaining all streetlights in the region and will change the current lights to more efficient LED ones, Daw Nilar Kyaw, Minister for Electricity, Industry, Transport and Communication, said on September 26. The announcement came as a response from Daw Thet Htar New Win, Member […]

FDI jumps 77pc to US$2.3 billion in first half of 2019

Government-approved foreign direct investment (FDI) into the country stood at US$2.3 billion in the first-half of 2019, a 77 percent improvement from the same period last year when approved FDI came in at US$1.3 billion. According to statistics from the Directorate of Investment and Company Administration, Singapore was the top investor with US$1.3 billion and […]

Higher tariffs still welcome if power supply is regular, investors say

Despite higher electricity prices, if businesses are able to enjoy a regular, uninterrupted supply of power, the move is still welcome as most will still be commercially viable, some investors said. “In the last year alone, blackout time in our factory was over 300 hours. When the power is out, we have to run the […]

Red Dot closure concerns spread to industry, draws light on licensing procedures

Disenfranchised agents of the now defunct Red Dot Network Ltd plan to file a court case against the payment-solutions provider after being turned down by the Consumer Protection Central Committee, which said their case could not be handled under the Consumer Protection Law. The agents are unhappy that deposits paid to Red Dot will likely […]

Boat Builder Floats New Business to Tap Island Tourism Boom

With tourism booming in southern Myanmar, residents of Myeik in Tannitharyi Region are finding ways to benefit by filling niches in the industry. Ko Thein Zaw Min, managing director of Mergui Dolphins, one of 40 tour companies in the area, has found a way to do this by opening a boat-making workshop. The number of […]