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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 […]

Foreign Investment in Myanmar Set to Miss Target: MIC

Yangon—Myanmar is likely to fall short of its foreign investment target in the 2018-19 fiscal year, according to U Thant Sin Lwin, director of the Myanmar Investment Commission (MIC). Myanmar has so far only received US$4.1 billion (6.29 trillion kyats) of inbound foreign investment in the current fiscal year, which ends on Sept. 30. “We […]

No proposals or plan to permit casinos: Yangon Region Chief Minister

THE Yangon Region Investment Committee (YRIC) has not received any proposals for casino businesses, and it does not plan to green light such businesses, said U Phyo Min Thein, the Yangon Region Chief Minister. He made the remarks at a press conference held on Wednesday at the YRIC office. “There is no proposal for setting […]

Me and the Myanmar Investment Commission

Different types of investment entities could be seen in many facets such as that doing business is investment, that sending a kid to school is investment, that providing capacity building to an employee is also investment. More investments reap additional benefits. Therefore, it is universally accepted that the investment is a must for the development […]

Govt to demand more info from prospective investors

The government has announced it will require more detailed documentation for investment proposals from August 1 following an investigation by The Myanmar Times into repeated transparency failures under the investment body. In a notification signed on July 18 but released on July 22, the Ministry of Investment and Foreign Economic Relations announced a series of […]

Myanmar approves nearly 200 foreign investment projects in FY 2018-19

YANGON, July 14 (Xinhua) — The Myanmar Investment Commission (MIC) has approved 197 foreign investment projects in first nine months of current fiscal year 2018-2019, according to figures from the Directorate of Investment and Company Administration (DICA). From October 2018 to June 2019, a total of 3.16 billion U.S. dollars worth of investments entered Myanmar […]

No decision made on Malaysian proposal for “Sittwe New City” project

No decision has been made on a proposal by Gold Coast KTMG Development, a company with Malaysian owners, to develop a new city near Sittwe, capital of Rakhine State, says a senior minister in the state government. “We have not decided on it and there have been no detailed discussions other than the presentation of […]

Local government warns tardy cement plant projects in Myanmar

Myanmar: U Aung Kyaw Thu, the Hluttaw representative of Mon State Parliament and chairperson of the public budget scrutiny, finance planning and economics matters review committee has warned that cement plant projects granted licenses by the Myanmar Investment Commission (MIC) that have not implemented their plans will not be granted permission to extend their licenses. […]

Construction of Myanmar’s first aquarium to complete next year

YANGON-The first international-standard Myanmar Aquarium including an underwater wing is being constructed in Kandawgyi Gardens in Yangon and is expected to complete in 2020, says Director Tin Maung Tun from Mottma Development Group implementing the Aquarium project. Under the leadership of Yangon Region Government, the Yangon Ecological Aquarium has been cooking since 2016. “An underwater […]

Myanmar Investment Commission accused of transparency failures

<ahref=”https://youtu.be/pCvYiQYDHcE” target=”_blank”> Exclusive: Multiple transparency failures by the Myanmar Investment Commission to publicise proposed infrastructure projects are exacerbating tensions between local communities, the government and big business. An investigation by The Myanmar Times shows that more than two years since the Investment Law came into force, legal requirements for disclosure by both the MIC and […]