Daibochi Plastic secures regulatory approval for Myanmar JV

Daibochi Plastic and Packaging Industry Berhad has secured regulatory approval from the Myanmar Investment Commission (MIC) for its joint venture (JV) company, Daibochi Packaging (Myanmar) Company Limited (DPM), to commence operations. The company said in a press statement today that DPM is a JV between its wholly-owned subsidiary, Daibochi Flexibles Sdn Bhd and Myanmar Smart […]

FLM has been granted Myanmar Investment Commission approval for a USD 859 million, fibre optic network deployment.

March 30, 2017 /EINPresswire.com/ — FibreLink Myanmar (FLM) , a Myanmar licensed NFS (i) telecommunications operator, has received its Myanmar Investment Commission (MIC) investment permit clearing the path to the deployment of FLM’s world class fibre network. Following an exhaustive process by MIC, FLM believes that its investment approval was granted based on the importance […]

Myanmar govt body suggests setting up garment units in Sittwe

The Myanmar Investment Commission (MIC) has suggested that apparel stitching factories be set up in Ponnakyun, Sittwe in a bid to create job opportunities for local people and also stop migration. MIC has recommended several fiscal incentives for companies interested in starting projects in Sittwe, to encourage investment in a less developed region. A MIC […]

Myanmar’s FDI rush recedes

Myanmar’s economy looked like it was enjoying a brisk tailwind after progress in democratization led the U.S. to lift its sanctions last year, but the boost appears to be waning. The government that took office in March 2016, with pro-democracy icon Aung San Suu Kyi as its de facto leader, has so far proposed few […]

Local, foreign investments in first half of FY reach only US$2billion

Both local and foreign investments in the first half of fiscal year 2016-2017 reached only US$2billion, despite the fact that the investments are expected to hit US$6billion, according to Myanmar Investment Commission (MIC). The investments in the first six months of last year were over US$3billion, US$1 billion higher than that of this fiscal year. […]

Mizuho Bank and MAX Myanmar inked an MoU for business cooperation

Mizuho Bank and Max Myanmar Holdings signed a memorandum of understanding (MoU) for business cooperation with an aim at facilitating foreign direct investment (FDI) in Myanmar by Japanese companies. Mizuho Bank will be the first Japanese bank to sign an MoU with Max Myanmar. Mizuho has been supporting Japanese companies entering Myanmar. It opened a […]

South Korea’s BXT got approval to invest in Kaladan project

South Korean BXT International Company is investing in jetty development activity in Kaladan River with the approval of the Myanmar Investment Commission (MIC). The BXT is the first foreign company to make a significant investment in Sittwe, Rakhine State. The project involves land reclamation on the banks of the Kaladan river, creating more job opportunities […]

Fifty-two foreign enterprises approved by investment commission this year

Fifty-two foreign enterprises were established in Myanmar as of mid-October this fiscal year, making investments of US$662.835million, said U Aung Naing Oo, the director-general of the Directorate of Investment and Company Administration (DICA). Myanmar Investment Commission (MIC) approved a total of 14 foreign investment businesses, according to Myanmar Investment Commission Meeting (18/2016) and (19/2016), with […]

No need to seek approval from MIC for investment except for businesses with environmental impact

Investment businesses are no longer required to seek approval from Myanmar Investment Commission (MIC) apart from the businesses needing environmental impact assessments. Those investment businesses can apply for registration at the Directorate of Investment and Company Administration (DICA) branches in the regions and states concerned. Currently, more DICA branches will be opened in Kayin State, […]

FDI in Myanmar hotel and tourism projects soar to US$2,918.5252m

Foreign direct investments (FDI) in Myanmar hotel and tourism projects soared to US$2,918.5252 million, it is learnt from the Ministry of Hotels and Tourism. Currently, there are 52 hotel projects in Myanmar, both FDI and joint investments. Singapore is on the top of the list in FDI in Myanmar hotel sector with an investment of […]