Hyundai shipbuilding group wins $450 mln deal to build compression platform for Myanmar gas project

The holding company of South Korea’s Hyundai shipbuilding group secured an order worth $450 million to build a compression platform that would be installed in the third field of a natural gas project in the Bay of Bengal off Myanmar. Korea Shipbuilding & Offshore Engineering said on December 8 that it has won a letter […]

UPDATE 3-CVC buys telecom tower firm in Myanmar’s second biggest deal

SINGAPORE, Dec 11 (Reuters) – CVC Capital Partners has agreed to buy Myanmar’s largest telecom tower company in a deal that sources said was valued at about $700 million and which marks the global buyout firm’s first foray into the Southeast Asian country. The sale of privately-held Irrawaddy Green Towers, which has almost 4,000 towers […]

COVID-19 brings new investment opportunities in Myanmar, says founder of Ascent Capital

Lim Chong Chong, the founder of Singapore-registered fund management firm Ascent Capital, first visited Myanmar in 2013, when he was working for Singaporean wealth fund Temasek as an associate director. At that time, just two years after the ending of military rule in the country, the internet connection was still a luxury, and mobile users […]

Myanmar’s Second Investment Policy Review Urges Further Liberalization

YANGON—Myanmar has published its second investment policy review (IPR), which identifies needed policy reforms—ranging from enhancing responsible investment, establishing special economic zones (SEZs) and strengthening the implementation of environmental impact assessments to fostering secure and well-defined land rights—with the aim of attracting more foreign investment to the country. Supported by the France-based Organization for Economic […]

Garment: Big brands have mistreated their workers throughout the COVID-19 crisis

Brands must pay workers their full wages during the coronavirus crisis and beyond Meg Lewis is Campaigns Manager at Labour Behind the Label, a group that works to improve conditions and empower workers in the global garment industry. Stark figures from the Clean Clothes Campaign show that garment workers are owed between 2.42 and 4.38 […]

Myanmar Considers Relaxing COVID-19 Restrictions

Yangon – Myanmar’s State Counselor’s Office says the government is considering relaxing many COVID-19 restrictions, including stay-at-home orders, to ease the impact on the country’s economy. Myanmar imposed stay-at-home orders on about 75 townships in Bago, Ayeyarwady and Mandalay regions and Kachin and Mon states and the whole of Yangon Region and Rakhine State. Under […]

Investment in Myanmar continue to grow despite COVID-19

Although garment and other factories have been hugely impacted by the COVID-19 pandemic, local and foreign investments are still flowing into the country, according to the Yangon Region Investment Committee. The government approved two investments totalling US$2.65 million in shoemaking and garment manufacturing by China and Singapore at the end of October that are expected […]

Investment applications to go online in Myanmar

The Directorate of Investment and Company Administration (DICA) will launch an Online Investment Application function to facilitate the investment process with the aim of attracting responsible investors, said U Thant Sin Lwin, Director General of DICA. The new function permits companies to carry out the process for proposed investments online without having to physically go […]

After rice-buying scheme, govt plans paddy purchases to prop up prices

U Myint Lwin, acting secretary of the Ministry of Commerce and director general of the Directorate of Consumer Affairs, said tenders had been called from merchants in the targeted state and regions and after they were completed the government would announce the volume of paddy it plans to buy. The tender window remains open and […]

Myanmar economy expanded during NLD govt’s term: minister

<a href=”https://youtu.be/pCvYiQYDHcE” target=”_blank”><img src=”https://consult-myanmar.com/wp-content/uploads/2013/10/doingbusinessinmyanmar-thumbnail2.jpg” width=”600″ height=”250″ /> </a> Myanmar saw a total of US$25 billion in foreign investment capital entering the economy during the National League for Democracy government’s term, said Minister of Investment and Foreign Economic Relations U Thaung Tun. He said the NLD government’s approach to social and economic reform is embodied in […]