French Chamber and UMFCCI to Support Myanmar-EU Trade

The French Myanmar Chamber of Commerce and Industry (CCI France Myanmar) and the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) signed a memorandum of understanding (MoU) on May 5 to strengthen partnership with a focus on supporting SMEs and Myanmar businesses. CCI France Myanmar said that the agreement comes at a […]

 Foreign investment in hotel and tourism reaches US $2.7billion

​​ Myanmar has received foreign investment of more than US $2.687billion in 67 businesses in the hotel and tourism sector as of January 2017, the Directorate of Investment and Company Administration (DICA) reported. The hotel and tourism sector is the 7th industry most invested in, accounting for 3.87 percent. As of January 2017, foreign investment volume […]

MIC Recommends Constructing Garment Factories in Sittwe

​​ RANGOON — The Myanmar Investment Commission (MIC) recommended constructing garment factories in Sittwe Township’s Ponnakyun town, according to a statement released last week. The statement was a response to the Central Committee for Implementation of Peace and Development in Arakan State—formed last year and led by State Counselor Daw Aung San Suu Kyi—that asked […]

Myanmar Investment Law Seminar by Malaysian Business Council on 16 Jan 2017

This is a must attend seminar conducted by Miss Jean Loi (Managing Partner of VDB-Loi) on Investment Law, Immigration & Labour Issues and Tax. Cost is USD 10 for non-members. DO YOU WANT TO BE INFORMED OF NETWORKING SESSION HERE IN YANGON?If you are a foreign investor and want to be updated on the networking […]

‘Uncut Gem’ Myanmar a Lure for Singapore Businesses

Prime Minister Lee Hsien Loong had announced during his visit to Myanmar in June that citizens from both sides will not need visas to enter each other’s country for visits of up to 30 days. Currently, Singaporeans have to apply and wait for a visa, which costs at least S$35, depending on the purpose of the […]

Myanmar’s New Investment Law Regulations to Take Effect Next April

NAY PYI TAW, Oct. 27 (Xinhua) — Myanmar’s new Investment Law will take effect with its regulations on April 1 next year, an official of the Directorate of Investment and Company Administration (DICA) told the media in Nay Pyi Taw Thursday after a Consultation Workshop for Implementing Regulation of the Myanmar Investment Law was held. […]

No automatic tax breaks under new law

Companies investing through the Myanmar Investment Commission will no longer automatically receive a five-year tax break, but will be granted exemptions based on the nature of the project and its geographic location, MIC secretary U Aung Naing Oo said yesterday. The changes will come into effect when the new Myanmar Investment Law is passed, he […]

MIC issues ‘ominously broad’ foreign investment restriction

A directive issued at the end of March by the Myanmar Investment Commission has added an additional layer of complexity for foreign investors and granted ministries greater scope to make exceptions on a case-by-case basis. The notification – designated 26/2016 – adjusts the list of economic activities that require a joint venture under the Foreign Investment Law. In […]

MIC forecasts Mandalay foreign investment boom

Foreign direct investment to Mandalay Region will boom within two or three years, as a number of ambitious projects launch and connectivity improves, according to Myanmar Investment Commission secretary U Aung Naing Oo. Mandalay Region is currently in ninth place for foreign direct investment, receiving less than 10 percent of capital inflows, he said at […]

US Business Delegation to Arrive After Election: UMFCCI

RANGOON — A delegation of some 80 US business representatives is set to arrive in Rangoon late this year, according to an official from Burma’s chamber of commerce, on the heels of a landmark general election to be held in November. Maung Maung Lay, vice chairman of the Union of Myanmar Federation of Chambers of […]