Myanmar sees boost in private investment in agriculture

Investment in agriculture by private companies is increasing in Myanmar, raising expectations that the modernization of the sector will progress at last. Myanmar Agribusiness Public Corp. (Mapco) has built a large rice mill in a bid to boost exports of rice, while Myanma Awba Group has launched a project to build an agricultural chemical factory. […]

Myanmar woos investments in infrastructure, transport and energy

With the recent enactment of the investment law and lifting of sanctions, Myanmar has become friendlier to foreign investment, particularly in infrastructure, transport and energy, according to its state investment agency. The Myanmar Investment Law was passed on Oct. 18 by combining the country’s foreign investment law and citizen investment law, providing income tax exemptions […]

Local, foreign investments in first half of FY reach only US$2billion

Both local and foreign investments in the first half of fiscal year 2016-2017 reached only US$2billion, despite the fact that the investments are expected to hit US$6billion, according to Myanmar Investment Commission (MIC). The investments in the first six months of last year were over US$3billion, US$1 billion higher than that of this fiscal year. […]

Singapore and China top in FDI

Singapore and China invested the most in Myanmar as of 31 October this fiscal year, according to the Directorate of Investment and Company Administration (DICA). Singapore stands at the top of the list with a foreign direct investment (FDI) of US$2,529.803million from April to the end of October this fiscal year, followed by China with […]

Yangon govt may ban car imports next year

A majority of vehicle importers expect the Myanmar government to restrict imports of small vehicles next year to alleviate traffic congestion in Yangon, said Than Win, the joint-secretary of the Myanmar Region Public Transport Authority, in a lecture titled “Urbanisation and Transport” at the Yangon’s Orchid Hotel on September 3. “An increase in the number […]

Myanmar govt suspends 68 projects, waiting for new administration

YANGON – The Thein Sein government has suspended 68 projects, including coal-fired power plants, mining and private sector deals, to allow the next government to manage the assets when it takes office, according to state-owned newspapers. The report was published shortly after MPs discussed an urgent proposal last week calling the government to scrutinise the […]

15 companies short-listed for Yangon Central Railway Station development tender announced

Myanma Railways has shortlisted 15 firms and joint ventures, including a number of well-known local companies, that responded to an EOI to redevelop Yangon Central Railway Station and the surrounding area in downtown Yangon. This is the railway ministry’s second attempt to tender the project, after an initial tender called in 2014 was cancelled last […]

Long-awaited Yangon BRT system opens

Dr Maung Aung, chairperson of the Yangon Bus Line Public Company, said: “Currently, we cannot focus on huge profits. For the sustainable development of the BRT system, we have to run it as a public company. We worry that it would collapse in a short period of time, like the road transport department, if the […]

Fuel sector tops foreign investment list

The oil and gas, transport and telecommunications sectors topped the foreign investor list, with US$4.9 billion invested by the end of December during this financial year. Oil and gas came top with US$2 billion, followed by transport and telecommunications. Twenty countries, including Singapore and China, invested in these sectors. Last financial year, the total foreign […]

Korea chases investment in Myanmar

The ASEAN-Korea Centre sent 20 Koreans to Myanmar last week to seek investment opportunities. The investment and market research mission of businessmen and officials from the Ministry of Land, Infrastructure and Transport and the Korea Land and Housing Corporation went to Yangon on Jan. 13-15. The project was designed with Myanmar’s Directorate of Investment and […]