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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 […]

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 […]