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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, […]

Japan is eyeing export-oriented businesses in Myanmar

Japanese companies are becoming interested in the local industry which will manufacture products in Myanmar and export them to India, China and Thailand, said Japanese Ambassador to Myanmar Mr. Ichiro Maruyama, at Japan-Myanmar Resource, Trade and Investment Expo 2019 at Inya Lake Hotel in Yangon on October 19. “There are many Japanese companies which are […]

Myanmar investments: another corporate casualty of Myanmar’s ‘harsh realities’

London-listed Myanmar Investments International (MIL), the latest of several foreign investors to turn its back on Myanmar, has blamed its decision to wind up on the impact of the conflict in northern Rakhine, a “complex” political situation and what it calls the slow pace of reform. Although MIL was a relatively small player with a […]

FDI forecast to remain flat at US$5.8B in fiscal 2019-20

Myanmar is expected to draw foreign direct investments (FDI) totaling US$5.8 billion in the 2019-20 fiscal year beginning October 1, said U Thant Sin Lwin, Director General of the Directorate of Investment and Company Administration (DICA) and Secretary of Myanmar Investment Commission (MIC). That is unchanged from the forecast for the previous fiscal year, which […]

Can we turn suspended factories into engines of national economic growth?

Steel is an essential material in the industrial products and in building infrastructures. If Myanmar can produce steel on commercial scale, we will be able to save our foreign exchange used in importing steel products and build an industrialized country. In fact, the country has large deposits of iron ore. Myanmar set up steel mills […]

Yangon approves $238M in hotel, tourism investments

Yangon’s Regional Tourism Committee recently announced that investments totalling US$238 million and K119.63 billion were approved for the region’s hotels and tourism sector between May and August. In the same period, the committee approved investments for 33 new hotels and eight guest houses, approved 18 new hotels, 400 new travel agencies, and 200 tour guides. […]

3 businesses with operations in this fast-growing asian country

Myanmar is considered the “final frontier” in Asia — both literally and metaphorically — as it is one of the last countries within Asia to open its doors to foreign investors in recent years. In the last decade or so, countries such as Vietnam, Cambodia, and Laos have opened up to the outside world, and […]

Myanmar’s offshore oil fields

The article will bring the message about energy sector of the country, with high expectation to increase electricity consumption of the country in next five years and to share knowledge of energy sector. Myanmar already has four offshore natural gas fields at present. The total production capacity from three projects in Muttama/Martaban offshore—Yadana, Yetagon and […]

More Indian investments expected with better connectivity, bilateral ties

With a target of becoming a US$5 trillion economy within the next six years, India could overtake the UK to become the world’s fifth biggest economy this year and even surpass Japan to be the third largest in 2025, IHS Markit noted in a report this month. As the only ASEAN member state to share […]