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Citizen investments hit around Ks 6985 bln in three years

Until March this year, the Myanmar Investment Commission (MIC) allowed citizen investments worth over Ks 18,609 billion, with the real estate sector, manufacturing, transportation, hotel and tourism and construction sectors topping the list. A total of 1,549 local businesses invested Ks 18609187.355 million in 11 sectors. The investment in real estate sector reached Ks 4,172.850 […]

Japanese companies, DKSH enter Myanmar wholesale market

Three Japanese companies and a Swiss trading house have become the first foreign entities authorised to do retail and/ or wholesale business in Myanmar. Toyota Group’s trading arm Toyota Tsusho, pharmaceutical firm Otsuka and diaper manufacturer Mycare Unicharm are authorised to operate wholesale business as a 100% foreign-owned business, according to an announcement from the […]

Leading Myanmar and Malaysia builders sign agreement to collaborate

Capital Diamond Star Group Co, one of Myanmar’s leading diversified companies, and Sunway Group of Malaysia, have signed a memorandum of understanding in Mandalay to implement infrastructure and construction projects in Myanmar. The agreement signed on April 1 will see the companies jointly investing in projects such as mixed-use developments, offices, and hotels in Yangon […]

YBS card payment system to come online within six months

A ceremony to sign Yangon Payment Service Co Ltd (YPS) owned by Yangon Region Government and Asia Starmar Transport Intelligent Co Ltd was held at Yangon Region government office on March 12, with an address by Yangon Region Chief Minister Phyo Min Thein. Officials from Yangon Payment Service Co Ltd (YPS) and Asia Starmar Transport […]

New Yangon City Chief Grilled Over Chinese Contractor’s Reputation

The CEO of the company developing the controversial New City project on the west bank of the Yangon River has defended the involvement of a Chinese firm with an international reputation for engaging in bribery and corruption. The Yangon government-backed New Yangon Development Company (NYDC) last year signed a US$1.5-billion (about 2.3 trillion kyats) framework […]

Myanmar’s second largest city to hold int’l trade fair, business forum

Myanmar’s second largest city of Mandalay in the central part will hold an international trade fair and business forum on March 23 to attract foreign entrepreneurs to invest and do business in the city, according to organizers Thursday. Scheduled to be held at the Mandalay City Hall, the three-day event is jointly organized by the […]

Investors could channel up to US$4.9 billion into Rakhine this year

Foreign and domestic companies last week signed 28 expressions of interest (EOI) to conduct business worth a potential US$4.9 billion in the state this year. The bulk of the EOIs were signed by businesses in the hotel and tourism sector, said U Kyaw Aye Thein, Rakhine State Minister of Finance, Revenue, Planning and Economy. “These […]

Asia World Sees Myanmar’s New Concrete Road as Catalyst and Confidence Booster for Investments Into Rakhine

The Asia World Foundation said today that a new, all-weather 54-kilometer concrete road will serve as a major confidence booster and catalyst for direct investments in Rakhine State which today kicked off a three-day investment fair that was inaugurated by Myanmar’s State Counsellor Daw Aung San Suu Kyi. The Foundation of the Asia World Group, […]

Myanmar offers tax exemption to entrepreneurs investing in new Yangon city project

YANGON, March 2 (Xinhua) — Myanmar is offering zone-wise tax exemption to entrepreneurs investing in a New Yangon City Project, aimed at attracting more investors to the city expansion project being implemented on lands to the west of Yangon River, according to the Myanmar Investment Commission Saturday. Those investing in Zone-1, which is least developed, […]

Rakhine opens new beaches for hotel, tourism investments

The Ministry of Hotels and Tourism and the Rakhine State Government will open up new beaches along the Rakhine coast for new hotel projects in order to draw more tourism investments into the state, said U Ye Aung Moe, director of Ministry of Hotels and Tourism. So far, the ministry has designated the Gyite Taw, […]