Tanintharyi govt proposes economic zone for fisheries

The Tanintharyi Region Government has submitted a proposal to the Myanmar Investment Commission (MIC) for the construction of an economic zone focusing on the fisheries industry including a fish wholesale market, cold-storage facilities, and jetties for trade at the Myanmar and Thai border, according to U Khin Maung Lwin, assistant secretary at the Ministry of […]

MIC permits 5 investment proposals including two 30 MW solar projects

The Myanmar Investment Commission (MIC), gave the green light to five new investment proposals including two 30 MW solar projects and approved the four existing projects for capital expansion, according to a video conference held on 30 December 2020. The permitted investments covered the energy, fishery, hotel and services sectors, with an estimated capital of […]

Myanmar to complete Rakhine power plant next year

A US$170 million gas power plant project now being constructed in Kyaukphyu, Rakhine State, is expected to be complete before the end of 2021, said U Htu Htu Aung, deputy CEO of Supreme Trading Company, which is implementing the project. The project was given the green light by the Myanmar Investment Commission in late 2019. […]

Yangon Investment Forum suspended due to virus fear

Yangon Investment Forum which is scheduled for February is suspended due to the spreading of coronavirus, said U Thant Zin Lwin, Secretary of Myanmar Investment Commission (MIC) The investment forums are scheduled to take place in Yangon, Sagaing, and Bago Regions during this year. Currently, there is no plan to suspend Sagaing Investment Forum scheduled […]

Foreign investment inflows to double: Myanmar govt

Approved foreign direct investment (FDI) into Myanmar is expected to grow this year, the Myanmar Investment Commission (MIC) says. Already, approved FDI into Myanmar in the first three months of fiscal year 2019-20 is double what it was in the same period in the previous fiscal year, the commission said. “Currently, FDI in the country […]

Myanmar falls short of FDI target this year, but outlook is positive

Despite government efforts to hit its foreign direct investment (FDI) estimate of $5.8 billion during fiscal 2018-19, investors channeled just $4.1 billion into Myanmar, 70 percent of the original target, between October 1, 2018 and September 30, 2019. But U Thant Sin Lwin, director general of the Directorate of Investment and Company Administration (DICA) and […]

Approval of Investment Limits can be Raised, Official says

The investment commissions of regions and states can apply to raise the maximum investments they can approve if required, says a senior official. Permanent Secretary of the Ministry of Investment and Foreign Economic Relations U Aung Naing Oo said, if the investments are for development, the regional and state investment commissions can ask to have […]

Trade War Could be ‘Silver Lining’ for Myanmar

Myanmar has to move to tap into opportunities created by trade tensions between the world’s two largest economies, said a senior Singaporean academic. The US-China trade war has provided “silver linings” for many countries, such as Vietnam. in the Southeast Asia region, said Simon Tay, Chairman of Singapore Institute of International Affairs (SIIA), in the […]

Yangon Orders Closure of Unlicensed Luxury Spa in Myanmar’s Historic Secretariat

YANGON—A newly-opened deluxe spa at Yangon’s Secretariat will have to be closed because it has no operating license, according to the Yangon City Development Committee (YCDC). “We have not officially issued a business license to the spa at the Secretariat. As it is operating without a license, it has to be closed,” U Than, the […]

MIC announces new secretary, foreign capital updates

U Thant Sin Lwin has been appointed as Secretary of the Myanmar Investment Commission (MIC), according to notification 55/2019. U Thant Sin Lwin replaced U Aung Naing Oo as Director General of the Directorate of Investment and Company Administration (DICA) in March. U Aung Naing Oo is now Permanent Secretary of the Ministry of Investment […]