Most exports from MIC-registered firms

Around 58 per cent of exports between 2011 and 2016 were from businesses running under the official permission of the Myanmar Investment Commission (MIC), said commission secretary Aung Naing Oo. Exports earned more than US$7 billion in the 2011-12 financial year, US$6 billion in 2012-13, US$8 billion in 2013-14, US$7 billion in 2014-15 and US$6 […]

Myanmar-Japan joint venture eyes infrastructure investment

A joint venture between Myanmar’s leading heavy machinery distributor, Myanmar Kaido Co, and Japanese trading giant Mitsubishi Corp aims to capitalise on the rapid development of the Southeast Asian country’s urban infrastructure through the rental of construction and other equipment. An opening ceremony for the joint venture, Diamond Rental Myanmar Co, 50% owned by Mitsubishi, […]

BASF plant to produce construction chemicals in Myanmar

Germany’s BASF is building a plant in Myanmar to produce chemicals for the booming domestic construction industry, and to fill a need for more advanced materials. “As Myanmar’s construction industry grows more sophisticated in its scope, which includes high-rise buildings, roadways and bridges, the requirement for high-quality technical and construction solutions will increase,” said Christian […]

Myanmar courting global producers

The Myanmar authorities have sped up efforts in recent months to increase the country’s attractiveness for global manufacturers. The latest move was revealed in September by the Myanmar Investment Commission (MIC) and concerns the move to allow local and foreign investors into industrial zones across the country. This follows requests by companies from Hong Kong […]

Thilawa to Get Fertiliser Factory

​​ The Myanmar Agribusiness Public Corporation (Mapco) says it will build an international-standard fertiliser plant named “the AFC” in Thilawa Special Economic Zone this year, in partnership with the Mitsui Company from Japan and the German Malaysia-based Behn Mayer Company, according to its annual report. The fertiliser plant aims to satisfy domestic demand and boost import-substitute production. Mapco signed the investment contract with the foreign companies last April and it is due to be completed in the next financial year. Mapco has also formed a fertiliser and agrochemicals business branch. In addition, Mapco has opened a fertiliser business in Nay Pyi Taw and plans […]

Suu Kyi Opens NLD Government’s First Public Housing Project

​​ You’ll be forgiven if you’re skeptical about the latest pledge from Yangon’s electricity minister: she has said there will be no power cuts in the city this hot season. Any resident who has been tormented by mosquitoes while sweating in pitch darkness knows that city authorities have always struggled to keep the juice flowing […]

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 […]

Thilawa SEZ Receives US$900 Million in Foreign Investment

​​ RANGOON — Japan-backed Thilawa Special Economic Zone (SEZ) in Rangoon’s Thanlyin Township has received more than US$900 million in foreign investment since its launch in 2014, said a recent report issued by the Myanmar Investment Commission (MIC). “Since the start of the operation, the SEZ has received US$903 million foreign investment,” MIC secretary U […]

Second Tower Complete in Luxury Star City Condo Project

​​ The main structure of the second tower in Yoma Strategic Holding’s massive Star City-based condominium project was completed earlier this month, with work now set to begin on the interior units, a fivestar Club House and a public plaza. The Galaxy Towers project, which launched inFebruary last year, will have six high rise condos […]

BASF Planning First Myanmar Plant

​​ Subject to Myanmar regulatory approvals, the plant will be located in the country’s commercial capital, Yangon, and will be designed to produce tailor-made construction chemical solutions from BASF’s Master Building Solutions portfolio for the local building market. BASF opened its service office in Yangon in September 2015, but has been offering solutions to customers […]