Myanmar Will Hit This Year’s Foreign Investment Target After All, Says DICA Official

Myanmar can reach its target amount of investment for this fiscal year despite a slow start that raised doubts the country would bring in the $6 billion projected by officials, the Directorate of Investment and Company Administration (DICA) has said. U Aung Naing Oo, DICA’s Director General, said that although approved proposals are down more […]

Myanmar Confident of Topping $6 Bn FDI

​​ THE MYANMAR Investment Commission is confident of reaching its $6 billion (Bt216 billion) target for foreign direct investment in the 2016 fiscal year to March 31, although the nine-month figure accounts for only slightly half of the target. Despite the decline in FDI inflow, Aung Naing Oo, director-general of the Directorate of Investment and […]

New Myanmar Investment Law takes effect in January

Myanmar’s new investment law will take effect on 1 January, 2017, according to the Myanmar Investment Commission. The new law will combine the Foreign Investment Law and the Myanmar Citizens Investment Law, said U Aung Naing Oo, secretary of the Myanmar Investment Commission (MIC). The commission will continue its functions in accepting proposals submitted by […]

Riverfront real estate project planned for Hlaingthaya Township

To meet growing local demand for residential units, the Riverfront Garden Real Estate project constituting of commercial and residential spaces as well as recreation facilities has been implemented in Hlaingthaya Township in western Yangon. With the approval of the Yangon Region government, the Southern Metal Industry Real Estate Development Co is constructing the US$650 million […]

MIC Approves Three Foreign Investments

​​ The Myanmar Investment Commission (MIC) granted permission to three foreign investments, including a garment business. The MIC met on December 1 to decide about the proposed foreign investment projects. The projects included a clothes producer, a soft drink container producer and distribution industry and power system installation and maintenance of telecommunication equipment services. Kingsrich […]

MIC Working to Avoid Line Ministry Approval for Investments

The Myanmar Investment Commission (MIC) is working on guidelines that would allow foreign investors to avoid the time-consuming process of asking government ministries for permission under the new Myanmar Investment Law. Receiving a green light from line ministries is already a “big barrier” for investors in Myanmar, whereas dealing directly with MIC takes much less […]

Myanmar Receives US$2.5 Billion in Connection to 65 Foreign Investment Projects in Hotels And Tourism

Myanmar has received almost US$2.5 billion (Ks3.3 trillion) in foreign investment injected into 65 projects in the hotel and tourism sector as of the end of October 2016, the Directorate of Investment and Companies Registration (DICR) has reported. After recording $2.481 billion invested into the hotel and tourism sector by the end of October, foreign […]

Myanmar Investment Commission Allows 14 Foreign Firms to Invest US$ 278 Million In Myanmar

THE Myanmar Investment Commission decided to permit 14 foreign companies to invest US$ 278.958 million during its meetings on 23 September. The firms include 13 manufacturing firms and one transportation company. Their ventures will create 8,895 job opportunities, according to the Directorate of Investment and Companies Registration. In addition, the commission permitted the investment of […]

Lower house passes Myanmar’s long-awaited Investment Law

The lower house of parliament approved the Myanmar Investment Law yesterday, taking the long-awaited draft a step closer to becoming law. The legislation, which combines into one document the Myanmar Citizens Investment Law and the Foreign Investment Law, now moves to the upper house for consideration. The Myanmar Investment Commission (MIC) began working on a draft of the law […]

MIC discusses nationwide extension of industrial zones

The Myanmar Investment Commission is discussing the nationwide extension of industrial zones with region and state governments and will invite new investors and developers, said Aung Naing Oo, the director-general of the Directorate of Investment and Company Administration. The MIC has already received proposals from companies in Hong Kong and South Korea for the establishment […]