Tanintharyi govt proposes economic zone for fisheries

The Tanintharyi Region Government has submitted a proposal to the Myanmar Investment Commission (MIC) for the construction of an economic zone focusing on the fisheries industry including a fish wholesale market, cold-storage facilities, and jetties for trade at the Myanmar and Thai border, according to U Khin Maung Lwin, assistant secretary at the Ministry of […]

MIC permits 5 investment proposals including two 30 MW solar projects

The Myanmar Investment Commission (MIC), gave the green light to five new investment proposals including two 30 MW solar projects and approved the four existing projects for capital expansion, according to a video conference held on 30 December 2020. The permitted investments covered the energy, fishery, hotel and services sectors, with an estimated capital of […]

Myanmar citizens raise investments in the country despite pandemic

Despite COVID-19, Myanmar citizens’ investments across the regions and states for fiscal 2019-20 amounted to over K1.88 trillion, which is around K200 million higher than in the previous fiscal year, said U Thant Sin Lwin, Director General of the Directorate of Investment and Company and Administration (DICA). Approval was given to over 130 Myanmar businesses […]

DICA, MIC issue guidelines for returning foreign executives

The Directorate of Investment and Company Administration (DICA) and the Myanmar Investment Commission (MIC) has issued guidelines on international visitors who want to return to Myanmar to conduct urgent business during the pandemic. The two organisations have requested the government to allow foreign employees who are working in companies registered with the MIC and Myanmar […]

MIC approves multi-million dollar industrial park in Hlegu

The Myanmar Investment Commission (MIC) on July 31 approved the US$230.6 million Hlegu Industrial Park, which will be developed by Singapore’s Sembcorp Industries. The project, set to cover some 436 hectares in Hlegu township, Yangon, was signed between Sembcorp CSSD Myanmar Co and local partners Phatama Group Co Ltd and Myanmar Agribusiness Public Corp (MAPCO) […]

MIC to accelerate approvals for labour-intensive, healthcare investments

The Myanmar Investment Commission (MIC) will accelerate approvals for investments in labour-intensive and infrastructure projects, MIC secretary U Thant Sin Lwin said last week. This is to ensure as many workers find jobs as possible to offset the impact of lay-offs in other sectors such as manufacturing and tourism. The MIC will also accelerate approvals […]

MIC halves application fees for investors as coronavirus bites

Investors who wish to apply for permission to invest in the country will enjoy a 50 percent discount on application fees, the Myanmar Investment Commission (MIC) announced on April 9. This includes both Myanmar and foreign investors, the MIC said. The new fee structure will take effect from April 20 onwards and remain effective until […]

Govt expands list of relief measures for businesses, investors

The government has been rolling out a slew of relief measures to help ease the pain for businesses affected by the COVID-19 pandemic and keep investors interested in Myanmar. In an April 11 directive, the Ministry of Commerce exempted traders from import license fees for all medicines and medicinal raw materials. There were two precedents […]

Yangon Investment Forum suspended due to virus fear

Yangon Investment Forum which is scheduled for February is suspended due to the spreading of coronavirus, said U Thant Zin Lwin, Secretary of Myanmar Investment Commission (MIC) The investment forums are scheduled to take place in Yangon, Sagaing, and Bago Regions during this year. Currently, there is no plan to suspend Sagaing Investment Forum scheduled […]

Foreign investment inflows to double: Myanmar govt

Approved foreign direct investment (FDI) into Myanmar is expected to grow this year, the Myanmar Investment Commission (MIC) says. Already, approved FDI into Myanmar in the first three months of fiscal year 2019-20 is double what it was in the same period in the previous fiscal year, the commission said. “Currently, FDI in the country […]