Water Bus to launch on 7 October 2017

a href=”https://youtu.be/pCvYiQYDHcE” target=”_blank”> AFTER a four-month delay, the new water taxi system is going to officially run on October 7, said Ko Tun Naing Lin, a spokesperson of Tint Tint Myanmar Company. The press conference for the water taxi was held in last May with hopes for the route to start in early June. But […]

Govt Investment Director Confident in Foreign Investment Despite Rakhine Conflict

YANGON — U Aung Naing Oo, director-general of Directorate of Investment and Company Administration under the Ministry of National Planning and Finance, talked to The Irrawaddy reporter Shwe Lay about foreign investment in Myanmar and the government’s plan to promote it. How much investment has Myanmar had over the past year? Which countries are the […]

Foreign and domestic investments rise during govt’s first fiscal year

In the National League for Democracy (NLD) government’s first fiscal year in power local investors made investments amounting to K1.57 trillion while foreigners made investments worth a total of US$7.44 billion in Myanmar, Deputy Minister of Planning and Finance U Set Aung said at the Pyidaungsu Hluttaw on August 31. DURING the 2016-17 fiscal year, […]

Myanmar striving to lure foreign investment

Myanmar continued to strive for attracting foreign investment into the country in the current 2017-18 fiscal year which began in April. During the first four months of the fiscal year up to July, 3.1 billion U.S. dollars of the investment was brought in from 95 enterprises of 20 countries, creating 30,000 job opportunities for local […]

Mandalay likely to hit US$600 million FDI target for 2017-18

The Mandalay region is set to achieve its US$600 million foreign direct investment (FDI) target for 2017-18. FDI in April-June has already exceeded US$582 million, which is around 90 per cent of the target, data released by the Mandalay Region Investment Committee showed. Under the new Myanmar Investment Law enacted in Oct 2016, Region and […]

Dutch businesses keen for deals in Myanmar

A DOZEN Dutch companies took part in the Netherlands’ first trade mission to Myanmar last week, reflecting keen interest to expand business ties. Dutch ambassador Wouter Jurgens said the mission, from June 7-9, was part of efforts to build on these relations. Jurgens said the Dutch companies discussed opportunities with Myanmar business people in a […]

Myanmar boosts incentives for infra development, labour-intensive projects

THE MYANMAR Investment Commission, a government body to facilitate both foreign and local investment, has planned plans to provide more incentives for investors in the two areas that are crucial to the country’s growth, labour-intensive industries and infrastructure development, a senior official said. According to Aung Naing Oo, secretary of Myanmar Investment Commission and director […]

Illegal Myanmar Teak Importation Widespread to EU, Investigation Finds

The Environmental Investigation Agency (EIA) released allegations Tuesday about what it says is the illegal importation of Burmese teak from Myanmar to the EU. In a two-month undercover investigation, staff from EIA, a UK-based campaigning organization, posed as prospective buyers and approached nine importers working in five EU countries. In a brief, the organization reports […]

Yangon airport T1 gets first foreign tenant

Yangon International Airport’s shiny new terminal has been almost empty since it opened in March – hosting only the country’s flag carrier Myanmar National Airlines. But space and facilities are becoming increasingly important for the raft of foreign firms aiming to add Myanmar routes, and the first international airlines are starting to move in. The […]

Kirin adding Ichiban beer to store shelves in Myanmar

TOKYO — Kirin Holdings will sell its signature beer Ichiban to Myanmar consumers starting this month. The Japanese company has offered Ichiban as draft beer in upscale restaurants in the country, but will now target households directly by selling retail versions. Kirin will produce canned and bottled Ichiban with Myanmar Brewery, the country’s market leader, which it […]