Development of the Korean industrial project to begin in December

Construction of the Korea-Myanmar Industrial Complex (KMIC) will commence in December despite the COVID-19 pandemic, said Mr Kim Gun Woo, general manager of Korea Land and Housing Corporation’s representative office in Myanmar. The project is estimated to generate US$4.7 billion worth of value from investments and generate more than half a million jobs in support […]

Yangon Broom raises funding led by Yangon Capital Partners to launch mobile app, training school

Yangon Broom, a Myanmar-based company, today announced that it has raised an undisclosed third funding round led by Yangon Capital Partners, the investment arm of a financial advisory company Trust Venture Partners. Other backers include existing investors such as Emerging Markets Entrepreneurs (EME) and NestTechVN, who had previously invested a five-figure funding round in the […]

Foreign direct investments in Myanmar for fiscal 2019-20 exceed target

Myanmar will exceed its foreign direct investment target (FDI) of US$5.8 billion in fiscal 2019-20. said U Thant Sin Lwin, Director General of Directorate of Investment and Company Administration. As at September 7, FDI was more than US$ 5.3 billion. The fiscal year will end on September 30. A total of 234 foreign investments were […]

PTTEP to remain focused on Myanmar investments despite profit drop

Although earnings at PTT Exploration and Production (PTTEP) halved in the first six months of the year, the Thai oil company will continue to focus on its key major investments, which include gas fields in Myanmar as well as Thailand, Malaysia and the Middle East, Mr Phongsthorn Thavisin, President and CEO of the company, said […]

Some Singapore Myanmar Investco (SGX:Y45) Shareholders Have Taken A Painful 95% Share Price Drop

It’s not possible to invest over long periods without making some bad investments. But really bad investments should be rare. So take a moment to sympathize with the long term shareholders of Singapore Myanmar Investco Limited (SGX:Y45), who have seen the share price tank a massive 95% over a three year period. That would be […]

Investments unaffected by COVID-19 so far

The outbreak of the Covid-19 virus could slow the pace of foreign direct investments (FDI) into Myanmar in the coming months, according to the Directorate of Investment and Company Administration (DICA). U Myo Min, a director at DICA, said although Myanmar has been unaffected so far, the impact of the outbreak on the world economy […]

France keen to invest more in Myanmar, says official

After a pause of eight years, France is going to expand existing investments and make new ones in Myanmar, a senior official of the Myanmar Federation of Chamber of Commerce and Industry (UMFCCI) has revealed. “They have trust in Myanmar. As French organizations have learned there are many prospects here, they are coming to invest […]

More transparency needed for China deals, Myanmar officials say

With Chinese investments in Myanmar expected to rise, more should be done to ensure transparent and responsible business practices between Chinese companies and the Myanmar government, industry watchers said. Chinese investments historically dominated Myanmar’s foreign direct investment landscape. Some projects are government-to-government initiatives while others were won through tenders. Observers say Myanmar should diversify its […]

Mandalay raises maximum property value to K18 billion

The Mandalay Region government has set new rates for the assessed value of property for 2019-2020, with the maximum rate for downtown pegged at K18 billion (US$11.86 million) an acre. The announcement of the new assessed rates applies to property transactions, the government said. The new maximum rate is a sharp increase from the K10.20 […]

More oil and gas investments expected next year

U Thaung Tun, Union Minister for Investment and Foreign Economic Relations, is expecting foreign direct investments in the offshore oil and gas industry to increase in 2020, once proposals for exploration and production are received, evaluated and approved. At the 30th regular meeting of the Private Sector Development Committee with Myanmar entrepreneurs on October 19, […]