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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 […]

Start-up sees future farmers using hydroponics, smart tech

Ko Htet Aung Hlaing, founder of local start-up HydroPlant, wants to revolutionise farming in Myanmar. “HydroPlant is expanding its two business arms. The first one is disseminating hydroponic technology and selling the required equipment. We build greenhouses. The second is selling smart precision systems,” he said. The smart precision systems offer information that farmers need […]

Myanmar hikes electricity rates to fund grid investments

YANGON — Myanmar will raise electricity prices for the first time in five years, with rates as much as tripling for households and nearly doubling for businesses. The government’s just-announced tariff increases take effect this coming Monday and will bring relief to money-losing utilities that have sold power for far below generating costs. With urbanites […]

YRIC permits 11 foreign, domestic projects; to create over 5,600 jobs

The Yangon Region Investment Committee gave the green light to eight foreign and three domestic projects with an estimated capital of US$15.8 million and K6.2 billion, respectively, at a meeting held yesterday. The projects are expected to create 5,630 jobs, according to a press release issued by the YRIC. Since its establishment, the YRIC has […]