Rakhine violence not expected to affect economy or FDI

Concerns that the ongoing violence in Rakhine State could result in capital outflows and economic sanctions are rising in the investor and business community. At the 2017 Myanmar Global Investment Forum in Nay Pyi Taw on September 12, U Aung Naing Oo, secretary of the Myanmar Investment Commission, said he is not expecting any negative […]

Govt Investment Director Confident in Foreign Investment Despite Rakhine Conflict

YANGON — U Aung Naing Oo, director-general of Directorate of Investment and Company Administration under the Ministry of National Planning and Finance, talked to The Irrawaddy reporter Shwe Lay about foreign investment in Myanmar and the government’s plan to promote it. How much investment has Myanmar had over the past year? Which countries are the […]

Investment Promotion and Protection Agreement with Singapore under way

Negotiations over an agreement on investment promotion and protection between Myanmar and Singapore have started, according to Directorate of Investment and Company Administration (DICA) Director General U Aung Naing Oo. “During the last 4 or 5 years, Singapore has been the top investor in Myanmar and thus it is a country with which we have […]

Draft Companies Law designed to remove obstacles for foreign investment

A new Myanmar Companies Law currently being drafted by legislators will remove cumbersome restrictions and make foreign investment easier, said Dr Myat Nyana Soe, the secretary of Amyotha Hluttaw Bill Committee. “The draft law was approved by Amyotha Hluttaw and the amendments made by Aymotha Hluttaw and Bill Committee are already submitted to Pyithu Hluttaw. […]

Increased investment and trade for Myanmar

U Aung Naing Oo, the Director General of the Directorate of Investment and Company Administration (DICA), said the Myanmar Investment Commission (MIC) has approved 26 domestic and foreign companies to conduct investment in Myanmar. Nineteen of the approved companies are foreign businesses. They include 12 companies from the industrial sector, 1 company from the livestock […]

Foreign Investment in Agriculture Rests on Policy Support, Innovation, Says Dentons

Myanmar’s agri­cultural sector is ‘very close’ to seeing an uptick in for­eign investment but only if the government contin­ues providing policy sup­port and if investors are willing to ‘innovate’, ac­cording to the Myanmar resident partner of the world’s largest law firm. After decades of neglect, Myanmar’s largest indus­try lags well behind that of regional neighbours […]

Fiscal Year 2017-18: a New Dawn for Economic Policies

​​ The new fiscal year will start on April 1, which also marks the start of new laws and economic policies for Myanmar. The new Myanmar Investment Law, which was recently passed, will come into effect on April 1 and its implementation and enactment will spell changes for the country’s businesses and investors. A developing […]

All of Chin and Rakhine, Most of Kachin to Offer 7-Year Tax Breaks Under New Investment Rules

​​ The Myanmar In­vestment Commis­sion has released a list of townships that will be able to offer in­vestors special income tax exemptions under the new investment law, due to come into effect next month. The commission has di­vided the country’s town­ships into three categories from Zone 1, least devel­oped, to Zone 3, most de­veloped. Investors […]

KBZ Strengthens Remittance Services with US Banks

​​ After kicking off the US-Myanmar direct money transfer service, Kanbawza Bank (KBZ) has tried to establish a direct channel with US banks, KBZ managing director U Win Lwin told the media. Right now, KBZ has opened a USD settlement account in New York’s branch of Sumitomo Mitsui Banking Corporation (SMBC). Hence, direct money transfer […]

SEZ to Import Japanese Agriculture Machineries

​​ Agricultural machinery manufacturer Yanmar Myanmar Co Ltd in Thilawa Special Economic Zone (SEZ) will not establish production lines in Myanmar but will import and distribute those machineries, Takesi Terada, the firm’s managing director, told the Myanmar Times. Yanmar Myanmar, a joint venture between Yanmar and the Japanese corporation Mitsui, has established import and distribution […]