MIC Invites Import-Substitution Investment Proposals

The Myanmar Investment Commission has invited companies to submit proposals for investments in import substitution industries, it said in a December 22 statement. The Commission identified the industries in which it is most interested in encouraging import substitution. They are: auto and auto parts, tractors and trailers, telephone and telecom equipment, machines and machine parts, […]

Myanmar Invites Investment in South Eastern Kayin State

YANGON, Nov. 24 (Xinhua) — The Myanmar Investment Commission (MIC) on Friday invited local and foreign investment in southeastern Kayin state for local economic development. According to an announcement of the commission Friday, investments are invited in electric power generation, transmission and distribution, bonded warehouse, establishment of industrial estate, infrastructure for the transportation sector as […]

New China-Backed Industrial Zone Being Constructed in Ayeyarwady

The Myanmar Investment Commission (MIC) has approved the construction of a new industrial zone in Maubin township, Ayeyarwady region, said MIC secretary U Aung Naing Oo. The Maubin Industrial Zone is now being developed on 250 acres of land in Maubin. Construction of the zone commenced in May this year, although official MIC permission was […]

Mandalay Brewery’s JV with Kirin approved as market heats up

THE Myanmar Investment Commission (MIC) has approved a proposal by Mandalay Brewery, which is a subsidiary of Myanma Economic Holding Limited (MEHL), to operate a joint venture (JV) with Japanese brewer Kirin Holdings. Under the JV, US$9 million will be invested to upgrade the quality of machinery and beer at Mandalay Brewery, said U Hla […]

EU displaces Japan as Myanmar’s Largest Apparel Market

After the reinstatement of Generalised Scheme of Preferences (GSP) rights to Myanmar, orders from European Union have been increasing, and it has now become the top market for Myanmar’s cut-make-pack (CMP) garment sector. This has reduced Myanmar’s heavy dependence on Japan for its CMP exports, according to Myanmar Garment Entrepreneurs’ Association. “In the past the […]

MIC Approves Another Offshore Oil and Gas Supply Base

The Myanmar Investment Commission (MIC) has approved an application to build an offshore supply base on Made Island, in Kaukphyu, Rakhine State, by the Myanmar Chemical & Machinery Company, according to an official MIC statement. The base will be developed on 146.7 acres of land in the Made village. The approval was granted after gas […]

Clothing Exports Set to Reach $3bn

Export earnings from cutting, making and packaging clothing manufacturing is expected to reach up to US$3 billion this year, said Soe Myint, the chair of the Myanmar Garment Entrepreneurs’ Association. “In the past, Japan was the biggest market but it has been overtaken by the European Union. Every month, four to six companies invest in the garment […]

MIC Announces Housing and Industrial Projects

The Myanmar Investment Commission (MIC) announced a national low-cost housing construction project and industrial land building project. They will be among the top-10 prioritised projects supporting both domestic and foreign investors in those sectors. “After the MIC announced low-cost housing projects as top-priority projects, some foreign and local developers are now interested to invest in […]

Myanmar to build more hotels in southern archipelago to boost tourism

Nine local and foreign companies have been granted by the Myanmar Investment Commission to build more hotels in the Myeik archipelago in southern Tanintharyi region. According to local directorate of hotels and tourist Sunday, the new hotels will be built on 12 islands of the archipelago. There are more than 800 islands in the region, […]

Singapore to invest $316m in housing

The Myanmar Investment Commission (MIC) has allowed two Singapore companies to invest over US$316 million in two Yangon housing projects, according to the Directorate of Investment and Companies Administration (DICA). “A Singapore company will invest US$35 million in a housing project and another firm will invest US$280 million in a separate project,” said an official […]