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Approval of Investment Limits can be Raised, Official says

The investment commissions of regions and states can apply to raise the maximum investments they can approve if required, says a senior official. Permanent Secretary of the Ministry of Investment and Foreign Economic Relations U Aung Naing Oo said, if the investments are for development, the regional and state investment commissions can ask to have […]

Project to bring changes to Sittwe’s waterfront by next year

A mixed development waterfront project on along the Kaladan River in Sittwe, Rakhine is now 90 percent done and is expected to be complete by the middle of next year, Steve Park, CEO of Korean developer BXT International Co, told Myanmar Times. The remaining work involves the completion of roads, drains and power grids at […]

Trade War Could be ‘Silver Lining’ for Myanmar

Myanmar has to move to tap into opportunities created by trade tensions between the world’s two largest economies, said a senior Singaporean academic. The US-China trade war has provided “silver linings” for many countries, such as Vietnam. in the Southeast Asia region, said Simon Tay, Chairman of Singapore Institute of International Affairs (SIIA), in the […]

Philanthropy not legally required for investors: DICA

The government does not oblige the private sector to make philanthropic donations when doing business in Myanmar, a senior official has clarified. U Thant Sin Lwin, head of the Directorate of Investment and Company Administration (DICA), said that neither the Investment Law nor the Myanmar Investment Commission requires investors – foreign or local – to […]

Shan State Investment Forum, 26 – 27 Nov 2019 at Royal Taunggyi Hotel, Shan State

VENUE AND DATE The Shan State Investment Fair will be held at the Royal Taunggyi Hotel, Taunggyi on 26 and 27 November 2019, organized by Myanmar Investment Commission (MIC), Shan State Investment Committee (SSIC) and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH on behalf of the German Government. The Shan State Investment Forum is comprised […]

MIC announces new secretary, foreign capital updates

U Thant Sin Lwin has been appointed as Secretary of the Myanmar Investment Commission (MIC), according to notification 55/2019. U Thant Sin Lwin replaced U Aung Naing Oo as Director General of the Directorate of Investment and Company Administration (DICA) in March. U Aung Naing Oo is now Permanent Secretary of the Ministry of Investment […]

Taking a Quantum Leap to Revamp Myanmar’s Economy

YANGON—Since last year, Myanmar officials responsible for drumming up foreign investment have been shuttling between Naypyitaw and Asian countries to pitch the government’s latest legal, procedural, and institutional reforms to potential investors as part of efforts to revitalize the country’s economy. State Counselor Daw Aung San Suu Kyi often highlights foreign direct investment (FDI) as […]

No proposals or plan to permit casinos: Yangon Region Chief Minister

THE Yangon Region Investment Committee (YRIC) has not received any proposals for casino businesses, and it does not plan to green light such businesses, said U Phyo Min Thein, the Yangon Region Chief Minister. He made the remarks at a press conference held on Wednesday at the YRIC office. “There is no proposal for setting […]

Govt to demand more info from prospective investors

The government has announced it will require more detailed documentation for investment proposals from August 1 following an investigation by The Myanmar Times into repeated transparency failures under the investment body. In a notification signed on July 18 but released on July 22, the Ministry of Investment and Foreign Economic Relations announced a series of […]

Myanmar approves nearly 200 foreign investment projects in FY 2018-19

YANGON, July 14 (Xinhua) — The Myanmar Investment Commission (MIC) has approved 197 foreign investment projects in first nine months of current fiscal year 2018-2019, according to figures from the Directorate of Investment and Company Administration (DICA). From October 2018 to June 2019, a total of 3.16 billion U.S. dollars worth of investments entered Myanmar […]