Delay in Companies Law Negative, but not Surprising

Implementation of the long-awaited Companies Law will be postponed until August 2018, Reuters reported Monday, citing top officials from Myanmar’s Directorate of Investment and Company Administration (DICA). Myanmar will delay implementing a new law that would have allowed foreign companies to take up to a 35 percent stake in local companies, bringing about badly needed reforms for […]

The role of AustCham Myanmar in the Myanmar economy

Australia is proving an important and growing trading and investment partner for Myanmar. The bilateral trade between Australia and Myanmar reached US$144 million in 2016, according to Myanmar’s Ministry of Commerce. Ms. Jodi Weedon is CEO of the AustCham Myanmar (Australia-Myanmar Chamber of Commerce), which was set up in March 2013. In a recent interview […]

Myanmar’s Largest Oil Refinery Project Cancelled

Construction of a multi-billion-dollar oil refinery in the south of Dawei has been cancelled after an investor in the project ran into financial constraints, sources confirmed. If completed, the oil refinery would have been the largest in Myanmar. The project, which is backed by the Chinese, had received approval under the former government led by […]

Dirt-poor Chin State hidden gem for investors

THE regional government in Chin State, together with the Directorate of Investment and Company Administration (DICA) and a UK-funded initiative, hailed Chin as a hidden gem overlooked by domestic and international investors. Renewable energy, tourism, agribusiness, weaving and urban development are pitched as key areas for development. Chin State, the least developed among Myanmar’s 14 […]

Myanmar Investment Commission approves 31 foreign and local investments

The Myanmar Investment Commission (MIC) has approved a total of 31 foreign and local investments in Myanmar in October and November, according to U Aung Naing Oo, the Director-General of the Directorate of Investment & Company Administration (DICA), quoted in state media. The MIC gave the green light to 24 foreign direct investments (FDIs) worth […]

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 […]