Myanmar throws weight behind Hong Kong as BRI “superconnector”

Myanmar recognises Hong Kong’s “distinctive role” as the Belt and Road Initiative’s “super connector”, a cabinet minister said last week during an official visit to the city, while businesses urged Nay Pyi Taw to take a more proactive approach in the scheme. Newly appointed chair of the Myanmar Investment Commission (MIC) U Thaung Tun, who […]

Businesses warn govt not to backtrack on retail and wholesale reform

AMID news that the commerce ministry might backtrack on the retail and wholesale sector reform and impose further restrictions on foreign investments, business leaders warn that any such retraction will be “extremely disappointing” and seriously derail efforts to attract foreign investments for the country. The ministry insisted that they currently have no plans for additional […]

There’s no Chinese ‘debt trap’, says Myanmar minister, as government pushes for joint port project to go ahead

Thaung Tun insists his government is keen to press on with deep water project after reports it was negotiating to keep costs down He dismissed the fear of a “debt trap”, saying he was confident it would be a “win-win” deal. “We would like to see this project get off the ground,” Thaung Tun, who […]

Union Minister Thaung Tun appoints as MIC’s Chairman

Thaung Tun, Union Minister for the Office of the Union Government is appointed as Chairman of Myanmar Investment Commission (MIC), according to Directorate of Investment and Companies Administration (DICA). He was a commission member before and now he is promoted as the chairman of the commission. He succeeded former Union Minister for National Planning and […]

FDI expected to hit $ 3 bln during interim period

From April to September this year, the total foreign investment is expected to hit US$ three billion, according to the Directorate of Investment and Company Administration (DICA). Than Aung Kyaw, Deputy Director-General of the DICA said: “According to the long-term investment plan, the total FDI is expected to reach US$ six billion during each fiscal […]

Collier Property Report – Yangon Condominium Q1 2018

Clarity on Reforms to Facilitate Market Growth Caused by the slim volume of units launched in Q1 2018, the citywide take-up rate observed a modest increase. While Colliers recognises these minor market improvements, structuring a systematic and efficient reforms will further help the sector realise a more sustainable progress and regain the lost confidence from […]

Korea-Myanmar Industrial Complex to be in Hlegu

YANGON- US$ 110 million worth Korea-Myanmar Industrial Complex(KMIC) project will be implemented in Nyaungnapin, Hlegu Township, Yangon Region. The approximately 555 acres wide project will begin near Nyaungnapin village, western part of about 5-mile away from the Yangon-Mandalay Expressway and it is a joint venture between Civilian and Housing Development Department under the Ministry of […]

UK preschool franchise set to expand further in Myanmar

A franchise of a UK-based preschool service provider located in northern Yangon has reached its first anniversary and is set to expand to downtown Yangon as well as Mandalay. With aspiring families in the country looking for quality education, demand is on the rise. Before the government opened up the education sector to international investments […]

Starbucks to open first outlet in Yangon, taps Myanmar for growth in ASEAN

American coffee franchise Starbucks will soon open its first outlet in Yangon, Myanmar, leaving Laos the only market in ASEAN it has yet to penetrate. On May 12, the Myanmar Investment Commission (MIC) endorsed Coffee Concepts Myanmar Ltd (CCM), a wholly foreign-owned food and beverage services provider. CCM is the operator of Starbucks in Myanmar, […]

Amid political challenges, Myanmar prizes UK investment for economic renewal

With Myanmar’s new Investment Law coming into force over a year ago, along with a soon-to-be implemented Companies Law, the government hopes its liberalisation and decentralisation efforts will help secure new British investment and support to move the economy forward. UK expertise is seen as particularly vital for Myanmar to develop a strong financial services […]