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Better implementation of the law needed to draw foreign investors

Lack of coordination between the Union and regional governments on development policies, red tape and weak implementation of new laws has hampered the flow of foreign direct investments (FDI) into Myanmar, said U Aung Naing Oo, permanent secretary of the Ministry of Investment and Foreign Economic Relations. U Aung Naing Oo pointed out that having […]

Myanmar’s fuel market: from fanfare to standstill

IN JULY 2017, Frontier reported on the longstanding frustration among drivers in Myanmar at the poor quality of fuel sold at local stations. Just a few months earlier, the Myanmar Investment Commission had abolished a requirement that foreign investors in the sector partner with the Ministry of Energy and Electricity. The larger local players were […]

Restored Pegu Club Receives Heritage Trust Blue Plaque

The 136-year old teak clubhouse and former gentlemen’s club during colonial rule, the Pegu Club was awarded a Blue Plaque by the Yangon Heritage Trust on Thursday at a ceremony attended by the trust’s founder, U Thant Myint U, Yangon Chief Minister Phyo Min Thein and secretary of the Myanmar Investment Commission U Aung Naing […]

Singapore surpasses China as Myanmar’s biggest investor

Singapore has overtaken China as the country’s main source of foreign investment in 2019, according to data from the Ministry of Investment and Foreign Economic Relations. At a meeting on streamlining investment in Nay Pyi Taw last week, U Aung Naing Oo, the ministry’s permanent secretary, said, “The top investor in Myanmar through December 2018 […]

New Terminal Construction to Begin with Port Traffic Expected to Rise Shipping

Adani, registered in Myanmar and incorporated in Singapore, will develop a new international port container terminal in Ahlone township, on the Yangon River in Myanmar’s commercial capital, with expectations of increased container traffic in Myanmar in the coming years. Adani Myanmar was granted permission by the Myanmar Investment Commission (MIC) in late April to develop, […]

Authorities aim to strengthen investment facilitation in related ministries

The Ministry of Investment and Foreign Economic Relations has pledged to strengthen investment facilitation in related ministries. Speaking at a training workshop in Nay Pyi Taw, U Aung Naing Oo, the ministry’s permanent secretary, stressed the importance of investment facilitation and the role of all investment-facing government agencies in the process. “Investment promotion and facilitation […]

Myanmar public companies trail behind private firms in corporate disclosure

Public companies in Myanmar – companies whose shares can be bought by the public – lag behind privately-owned firms in corporate disclosure and governance, according to the latest transparency report released on Tuesday. This is the fifth Pwint Thit Sa report (Transparency in Myanmar Enterprises) undertaken by Yangon-based Myanmar Centre for Responsible Business (MCRB) in […]

Singapore to invest in jetty and warehouse project

Singapore will invest 290.124 million US dollars in the construction of jetty and container warehouse under a BOT (Build-Operate-Transfer) system, according to Myanmar Investment Commission (MIC). The MIC gave the green-light to them, at its meeting on April 26. The project can create 1,176 new jobs for citizens. At the meeting on April 5, the […]

FDI needed for undeveloped regions but no plans for tax incentives

Although more foreign direct investments (FDI) are needed for the undeveloped Regions and States, there are no plans to revise current tax relief scheme as yet, said U Thant Sin Maung, acting director general of the Directorate of Investment and Company Administration (DICA). U Thant Sin Maung was responding to requests for tax incentives from […]

An industry-crippling jet fuel monopoly breaks

A domestic airline has received approval to sell aviation fuel in a decision that has ended a monopoly and raised hopes of cheaper prices and better service. GOLDEN MYANMAR Airlines has received Myanmar Investment Commission approval to operate an aviation fuel business, in the first sign of competition for the state-backed monopoly that airlines say […]