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Myanmar to hold regional investment forum in Yangon

YANGON, May 6 (Xinhua) — Myanmar will hold a regional investment forum in Yangon, the commercial capital of Myanmar, later this week, in order to increase investment and attract more investors in the region, according to the Yangon region government on Monday. The two-day Yangon Investment Forum-2019, scheduled to be held on Friday and Saturday, […]

Only if projects win confidence and support of local people from participating countries in BRT, can their aims be achieved

Only if projects win confidence and support of local people from participating countries in BRT, can their aims be achieved. Trust and support of the local people matters most, said State Counsellor Daw Aung San Suu Kyi. The remarks came from the speech of Daw Aung San Suu Kyi delivered at the High Level Meeting […]

Private Investments Worth $54M for Chin State

YANGON—The Chin State government signed four memorandums of understanding (MoUs) with private companies for projects totaling more than $54 million at an investment fair held at the weekend in Yangon, which aimed to stir up foreign investment interest in one of the poorest states of Myanmar. Among the four companies, the biggest project signed for […]

New city development needed to draw foreign investments: Chief Minister

Yangon must be developed further to free up space for new industrial zones and residences, which, in turn, will draw more foreign investors to the city, said U Phyo Min Thein, the region’s chief minister, during an August 24 press conference detailing his government’s plans for the coming quarters. The chief minister this year announced […]

Investments declined in 2017-18: MIC

Despite an increase in the volume of projects, total investment in value terms fell by around US$900 million in 2017-18 compared to 2016-17, U Thaung Tun, chair of the Myanmar Investment Commission (MIC), said in Parliament last week. In the 2017-18 fiscal year, Myanmar received $5.7 billion for 222 projects. Around $1 billion of the […]

Timber group replaces sub-contractors with service providers

This comes after it previously said no more sub-contracts would be issued. It announced that the decision to hire service providers was due to the MTE’s capacity limits. Experts have questioned the differences between sub-contractors and service providers and argued that transparency is essential in any reformed processes. Last year, the MTE announced that it […]

New proposals for delayed Condo Law

Four additional recommendations to the draft Condominium Law were debated in parliament earlier this week, as the upper and lower houses continue to tussle over details of the elusive bill. The Pyidaungsu Hluttaw’s Joint Bill Committee on November 18 submitted its report on the Condominium Law, which reviewed the existing 62 clauses and put forward […]

PTTEP earmarks $3.3 bn for Myanmar

Investment budget set till end-2018 as energy giant celebrates 25th year in neighbouring country PTT Exploration and Production (PTTEP) will invest a total of US$3.3 billion (Bt106.4 billion) in Myanmar through to the end of 2018, president and CEO Tevin Vongvanich said after celebrating the listed company’s 25th anniversary of successful operations in the neighbouring […]

No more projects like Letpadaungtaung if Myanmar becomes EITI member

If Myanmar becomes a full member of the Extractive Industries Transparency Initiative (EITI), there will be no more projects like Letpadaungtaung copper mine, which caused problems with local people, Dr Zaw Oo, a business advisor to the president, said. “Our country depended heavily on natural resources before. Human resources weren’t that important. It’s like precious […]

Vietnamese investment surges, sees room for growth in hotels

Vietnam is the ninth largest investor of the 36 countries with investment in the country, with US$513 million invested in seven projects as of the end of April, according to a June 26 forum linking businesses between the two countries. Bilateral trade is also surging, the forum was told. During the first four months of […]