Lacking Training, Mon State Investment Committee has no Real Power

The recently formed Mon State Investment Committee has been unable to begin work on soliciting and regulating investment because of a lack of direction from the Union investment body that formed it. Members of the Committee, which was formed on July 7, say they are waiting for the Myanmar Investment Commission (MIC) to train them […]

FDI could exceed MIC’s target in 2017-18, but still lower than previous years’

Between April 1 and July 11 of the current fiscal year, FDI into the country hit US$2.7 billion, almost half the MIC’s target. Meanwhile, a total of US$127 million in fresh funds was pumped into the Thilawa Speical Economic Zone, while US$221 million was injected into existing projects. That’s US$3.1 billion in total for the […]

Singapore to invest $316m in housing

The Myanmar Investment Commission (MIC) has allowed two Singapore companies to invest over US$316 million in two Yangon housing projects, according to the Directorate of Investment and Companies Administration (DICA). “A Singapore company will invest US$35 million in a housing project and another firm will invest US$280 million in a separate project,” said an official […]

MOSB – the first foreign company to build an oil and gas supply base

MOSB Limited (MOSB), has received approval from the Myanmar Investment Commission (MIC) on 11July, 2017 to build and operate a supply base in Mon State, with the endorsement from the Ministry of Energy. The establishment of a supply base will support the fast-growing oil and gas industry in Myanmar and provide necessary infrastructure, health, education […]

Failure to Sell Firm: Singapore Myanmar Investco Responds to SGX Query

SINGAPORE Myanmar Investco (SMI) said it had failed to sell its tower telecommunications business despite “strenuous efforts over many months” to secure approval from the Myanmar Investment Commission (MIC) with relation to tax benefits for the US$12.7 million proposed sale. This, SMI said, were the conditions precedent (CP) that it had not fulfilled in the […]

Foreign Investors Eye Electricity Sector

Foreign companies are in discussion with the Myanmar Investment Commission (MIC) over possible investment in huge electricity projects, according to the Directorate of Investment and Companies Administration (DICA). “We are in discussion but the details have not been announced yet. The electricity projects are at least US$300 million investments and some are up to US$500 million. They came to the […]

Myanmar’s tourism industry faces challenges

Myanmar’s tourism industry has experienced a significant decline compared to previous years. To understand the causes for this development the Global New Light of Myanmar interviewed U Thet Lwin Toe, chairman of Myanmar Tourism Entrepreneurs Association. Q: May I know current situation of tourism industry? The country’s tourism sector rose in 2012 like a tsunami. […]

Myanmar Announces 10 Prioritized Areas for Investment

YANGON, June 28 (Xinhua)– Myanmar Investment Commission (MIC) has announced 10 areas which will be prioritized for investment by both local and foreign entrepreneurs, Myanmar News Agency reported Wednesday. The 10 prioritized areas for investment include agriculture, livestock and fishery, export promotion, import substitution, power, logistics, education, health care, affordable housing construction and establishment of […]

Coal-Powered Cement Plant Starts Production Despite Local Opposition

MOULMEIN, Mon State — A 5000-ton cement factory has started commercial operations in Kyaikmayaw Township, Mon State, despite opposition from locals over the coal-fired plant that will fuel it. Mon State Chief Minister Dr. Aye Zan confirmed on Thursday the US$400 million project, run by Mawlamyine Cement Limited (MCL)—a joint venture between Thai firm Siam […]

Twelve enterprises recently permitted by MIC

The Myanmar Investment Commission (MIC) permitted 12 enterprises which are in line with investment regulations and laws in the current fiscal year 2017-2018, according to a recent meeting of MIC. A total of 4,343 job opportunities are created from those permitted enterprises. They consist of two Myanmar citizen enterprises, two foreign enterprises and eight joint […]