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 […]

Myanmar Labour Market beyond 2015

Decades of isolation had kept the world away from Myanmar until recently. The democratisation process that began in early 2011 has resulted in a ground breaking free and fair election in November. With the new democratically-elected government expected to take reign in March, this could become a big turning point to flourish Myanmar’s labour sector. […]

Services Likely to Play Key Role in New Economic Plan, Experts Say

Burma’s service sector, not manufacturing, will likely be the focus of national attention after the new government is formed in March, observers predict. The country’s economy is expected to hit a lull in the post-election period, but experts say that the incoming administration will attempt to boost the service sector to keep the national economy […]

YCDC Lost Millions in Park Leasing Process: Auditor General

The Yangon City Development Committee (YCDC) has lost millions of dollars in the process of leasing recreational parks in Yangon to private companies, the Auditor General of Yangon region said at a special meeting of the regional parliament. “The country is losing money on the leases of parks in Yangon. YCDC’s playgrounds, parks and gardens […]

1,240 hotels get licences

A total of 1,240 hotels and guesthouses have been licensed nationwide and 32 of them are implemented with foreign investment, according to the Ministry of Hotel and Tourism. Most of the hotels in Yangon, Mandalay, Bagan, Kawthoung, Tachileik and Myeik are being developed with foreign investment. Yangon has 317 licensed hotels and Mandalay has 375, […]