Local and foreign investments create over 110,000 jobs in 2017-18 FY

Local and foreign investments allowed by Myanmar Investment Commission (MIC) in 2017-18 FY will create over 110,000 job opportunities, according to Directorate of Investment and Companies Administration (DICA). A total of 93,197 domestic workers and 2,508 foreign workers will be employed in 222 foreign investments in this fiscal year. Over 21,500 domestic workers and 467 […]

MIC forecasts foreign investments worth $3 billion in next six months

The Myanmar Investment Commission (MIC) is expecting $3 billion in foreign direct investments (FDI) for the six-month interim period between April 1 and September 30, said MIC secretary U Aung Naing Oo last week. During the period bridging the current the 2017-18 fiscal year and the new 2018-19 fiscal year, FDI will continue to flow […]

Govt risks derailing economy despite legislative reforms

Candid comments from businesses expose this govt’s leadership and policy void in managing the economy, with no vision and little action. As the administration concludes its second year, it has yet to deliver. BUSINESS leaders, in rare candour, have expressed strong reservations and wide-ranging criticism over the current government’s approach to the economy as it […]

Myanmar Received $5 Bn in Foreign Investment in Current Fiscal Year

YANGON — Myanmar has received more than US$5.1 billion in foreign investment in the current 2017-18 fiscal year from April to the first week of February, according to the Directorate of Investment and Company Administration (DICA). “We have received more than $4.4 billion in foreign investment as of the first week of February, while existing […]

Nestle Myanmar expects fourfold growth by 2020

Swiss food and beverage giant Nestle operates in 190 countries producing more than 2,000 products with 330,000 employees from 450 factories. The brand has been recognized in Myanmar for more than 100 years. At the late of 2013, the company erected its next milestone stepping into Myanmar and Nestle Myanmar Limited was founded. Up until […]

Requirements on hiring foreigners only applicable to MIC firms

The government’s newly expanded requirements on hiring foreign employees announced in October are only applicable to companies permitted by the Myanmar Investment Commission (MIC). The Directorate of Investment and Company Administration (DICA) issued a statement to clarify its earlier announcement – “Appointment of foreign experts” (AFE) – which entered into force on October 21. Under […]

Myanmar Investment Commission approves 31 foreign and local investments

The Myanmar Investment Commission (MIC) has approved a total of 31 foreign and local investments in Myanmar in October and November, according to U Aung Naing Oo, the Director-General of the Directorate of Investment & Company Administration (DICA), quoted in state media. The MIC gave the green light to 24 foreign direct investments (FDIs) worth […]

China Faces Increasing Competition in Myanmar

Chinese domination of Myanmar can not be denied, as China is Myanmar’s top trading partner, and over the past three decades has also emerged as the single largest source of foreign direct investment (FDI) in the southeast Asian state. Myanmar-China bilateral trade had already reached $5.5 billion in the first half of the present fiscal […]

DICA office opens in Rakhine State

The Rakhine State branch of Directorate of Investment and Companies Administration (DICA) opened on Monday in conjunction with a briefing on investment matters and procedures. Kyaw Win, chairman of Myanmar Investment Commission (MIC) and Union Minister for Planning and Finance, and Rakhine State Chief Minister Nyi Pu made speeches. MIC Secretary and DICA Director-General Aung […]

Draft foreigner laws reincarnated as DICA announcement

ELEMENTS of the draft foreigner laws are back, in another form, to haunt businesses and investors. The government’s newly expanded requirements on hiring foreign employees have been criticised as “burdensome and disruptive” and “another incarnation” of the draft foreigner laws which were submitted to the legislature in February. A leading legal expert has described the […]