PM Modi to Indian diaspora in Myanmar: ‘We aren’t merely reforming India, but transforming India’

Prime Minister Narendra Modi, who is on a three-day bilateral visit to Myanmar, justified decisions like demonetisation and Goods and Services Tax (GST) terming them as ‘tough’ while addressing the Indian diaspora in Yangon on Wednesday. “We never shy away from taking big and tough actions for the benefit of India because we consider the […]

Transport and energy access barriers to Myeik industrialisation

The city in Tanintharyi Region amounts to far more than the gateway to over 800 islands of the archipelago. Access to energy and transport infrastructure remain the biggest barrier for industrialisation to take off in the city and its hinterland. The latest Colliers International report stated that Myeik has made great strides over the past […]

FDI could exceed MIC’s target in 2017-18, but still lower than previous years’

Between April 1 and July 11 of the current fiscal year, FDI into the country hit US$2.7 billion, almost half the MIC’s target. Meanwhile, a total of US$127 million in fresh funds was pumped into the Thilawa Speical Economic Zone, while US$221 million was injected into existing projects. That’s US$3.1 billion in total for the […]

Twelve enterprises recently permitted by MIC

The Myanmar Investment Commission (MIC) permitted 12 enterprises which are in line with investment regulations and laws in the current fiscal year 2017-2018, according to a recent meeting of MIC. A total of 4,343 job opportunities are created from those permitted enterprises. They consist of two Myanmar citizen enterprises, two foreign enterprises and eight joint […]

Upgrade Underway to Improve Power in Yangon

The government is upgrading electricity generation, transmission and distribution in Yangon Region, Daw Nilar Kyaw, minister of Electricity, Industry, Transport and Communication, told a news conference to mark the first anniversary of the government. She said that during fiscal 2016-17, the Yangon Electricity Supply Corporation (YESC) installed new cables in a pilot project in Hlaing, Dala, Tarmwe and Hlaing […]

Commit-and-Act Approach Expected Among Investors

Despite the 30 percent drop in FDI compared to the preceding year, the inward FDI in the financial year 2016-17 was moderately satisfactory, with US$6.6 billion. That amount mainly derived from the transport and communications sector. The sector alone attracted US$3 billion FDI, making it the top sector in terms of FDI. However, it is […]

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 […]