DICA releases additional guidelines for education investments

The Directorate of Investment and Company Administration (DICA) has released a list of additional guidelines and specifications to structure developments in the Myanmar education sector. The list, which was announced by DICA on August 10, includes a total of 17 points and comes four months after the Myanmar Investment Commission (MIC) on April 20 issued […]

Myanmar allows up to 80% of foreign investment in agriculture sector

Foreign businesses have been allowed to invest up to 80 percent in Myanmar’s agriculture sector instead of 49 percent, according to Myanmar Investment Commission (MIC). “Previously, the agriculture sector seemed to protect local businesses. At that time, a foreigner was allowed to invest 40 percent while a national had the chance to invest 51 percent. […]

Company admin obligations to be simplified under the law

When the Myanmar Companies Law is enforced come August 1, firms will no longer need to submit physical copies of original documents to the authorities as a digital online system will be used going forward,” said U Aung Naing Oo, secretary of the Myanmar Investment Commission (MIC). The Directorate of Investment and Company Administration (DICA) […]

Zay Kabar Company in row with squatters

Zay Kabar Company, a local conglomerate with interests in construction and telecommunications, will continue to take action against squatters who trespass on land which it has earmarked for development. On July 28, conflict arose between squatters and employees of Zay Kabar Company after the latter removed tents that were built on private land which had […]

Yangon firm “implements” Bago industrial park without known EIA

Yangon-based Hantharwady Development Public Company has begun the implementation of the proposed industrial park in Bago Region but The Myanmar Times could not find any environmental assessment or approval regarding the project, which is required by law. Bago’s regional government has released its investment report for the last two years on July 20. A domestic […]

MIC approves investment in new ILBC campuses

The International Language & Business Center (ILBC) has been permitted to invest $52 million to provide private educational services in Yangon, Mandalay, Nay Pyi Taw, according to the Myanmar Investment Commission (MIC). ILBC is planning to launch the new campuses in April next year. The organisation has already established 30 campuses in 9 major cities […]

Shut down of Moehti Moemi gold mine helps no one: company

The government’s suspension of the Moehti Moemi gold mining concession had affected the lives of 5000 company workers, and had cost the government between 26.6 kilograms and 53.2kg of gold in lost monthly revenue, U Soe Tun Shein, chairman of National Prosperity Co Ltd, which operated the concession, said at a press conference last Friday. […]

Myanmar to trim Kyaukphyu cost but drops Annan’s strategic review suggestion

Nay Pyi Taw’s plan to reduce the cost of Kyaukpyu Special Economic Zone, including the proposed deep-sea port, will help cap its external debt load and avoid repeating Sri Lanka’s Hambantota’s precedent, according to London-headquartered research firm BMI Research. At the same time, a government committee has dropped any mentioning of commissioning a Strategic Environmental […]

GDP expands to 7.4pc as more companies are cleared for business

Mandalay Region, Myanmar’s second largest city, has permitted the opening of 14 local and foreign businesses in the 2017-2018 fiscal year, said Dr Zaw Myint Maung, chair of the Mandalay Regional Investment Committee. Nine foreign companies will contribute foreign direct investments totaling $13.6 million, while the remaining six companies will contribute K23.1 billion in local […]

Foreign investor interest in Myanmar education, retail sectors on the rise: DICA

Myanmar’s recently liberalised education and retail sectors has drawn interest from foreign investors. Education service providers from Singapore, Australia and New Zealand have shown substantial interest to invest in Myanmar’s education sector, said U Than Aung Kyaw, Deputy Director General at the Directorate of Investment and Company Administration (DICA). Since the Myanmar Investment Commission (MIC) […]