Parliament Warns Urban Planners to Follow the Law

A legislator has asked parliament to conduct a systematic review of all urban planning projects to determine if they are following the law. Urban planning inconsistent with the law, rules and regulations needs to be reviewed, Daw Ni Ni May Myin, of Taunggok township in Rakhine State, told the Pyithu Hluttaw on Friday. “Since the objective […]

Singapore Makes Largest Investments in Real Estate Sector

Singapore made an investment of US$1.72 billion in 31 projects, as of the end of December, in the current fiscal year (FY), followed by China, with estimated investments worth more than $1.29 billion in 50 enterprises State media reported. Singapore made the largest investments in the real estate sector. some European countries also invested in […]

Actual FDI Hits $3.7 Billion This FY, Says MIC

The actual inflow of foreign direct investments amounted to US$3.7 billion during this fiscal year even though Myanmar Investment Commission has granted US$5 billion. The MIC releases the FDI lists every month and has issued the actual inflow of FDI twice during 2017-2018 fiscal year. From 1988-1989 until December of the 2017-2018 fiscal year, the […]

Electricity sector Tops Foreign Investment in Nov and Dec

​ Foreign investment in the electricity sector reached to over US$242 million (324 billion kyat) and topped the list for November and December last year, with the transport and telecommunications sector following with US$164 million, according to the Myanmar Investment Commission (MIC). The MIC approved $234 million of foreign investment in November and $307 million […]

Yangon elevated expressway doesn’t need MIC approval: official

The Yangon elevated expressway project is a government-to-government project and it doesn’t need approval from the Myanmar Investment Commission (MIC), according to the MIC. “Government-to-government projects are not submitted to the MIC. If the investment is made by public, private and partnership and as a developer, it is submitted to the MIC. The infrastructure projects […]

MIC Plans to Reduce SME Registration Fee

The Myanmar Investment Commission (MIC) is planning to reduce the registration fee for small-and medium-sized enterprises (SMEs), it announced at a press conference. Aung Than Kyaw, deputy director-general of the Directorate of Investment and Company Administration, said: “The MIC plans to reduce fee significantly. It is too early to reveal the exact amount. The move […]

Mandalay approves investments exceeding K1.4 billion

The Mandalay Region Investment Committee has approved over K1.4 billion in investments since the Myanmar Investment Law was approved in October 2016, U Thike Htoon, assistant director at the Directorate of Investment and Company Administration (DICA), said on Monday. The investments were approved for the first time after the Myanmar Investment Commission (MIC) established Region […]

Kyat Hits Strongest Level Against Dollar in Over a Year

The Myanmar kyat appreciated to its strongest level against the US dollar in a year after the Central Bank of Myanmar (CBM) set its daily reference rate at K1,345 per dollar on Tuesday. The kyat had weakened to K1,360 against the dollar last year. It opened this year at K1,361. The kyat hit a record […]

Myanmar’s Tanintharyi Region Invites Power Investments

PEOPLE’S thirst for electricity would create a lot of opportunities for investors to do business in Myanmar’s Tanintharyi region bordering Kanchanaburi Province. Kyaw Kyaw Win, a small-scale food manufacturer living in Dawei, the capital of the region, said locals were eager to welcome any bid to boost access to electricity by the authorities as long […]

Delayed Permitted Businesses to Receive Govt Assistance

Almost 600 firms have experienced delays getting their businesses off the ground since 1988 despite having received permits from the Myanmar Investment Commission (MIC). Of the 2,723 local and foreign businesses permitted to operate in Myanmar between 1988 and 2017, a total of 581 have yet to start. As such, inspections will be conducted and […]