Local businesses propose to establish industrial zone in central Myanmar

YANGON, Sept. 2 (Xinhua) — Local businesses will submit a proposal to the regional government in Myanmar’s central Magway to establish an industrial zone there, the official Global New Light of Myanmar reported Sunday. The industrial zone was proposed to be located far from the residential area as the noise, odor and air pollution from […]

Myanmar launches new companies law to adapt to current age

YANGON, Aug. 1 (Xinhua) — Myanmar has instituted a new companies law after amendment of its outdated Companies Act-1914 to adapt to the current age, registering an important milestone with its measures of promoting foreign investment. The new Myanmar Companies Law-2017 comes into effect from Wednesday, enabling a company’s registration process to be done electronically […]

Myanmar to hold pearl auction in Hong Kong to penetrate int’l market

YANGON, Feb. 22 (Xinhua) — Myanmar will hold its sixth International Pearl Auction in China’s Hong Kong Special Administrative Region starting Friday, the official Global New Light of Myanmar reported Thursday. In the three-day pearl auction with the aim of penetrating the international pearl market, Myanmar pearls of high value, produced from Myeik, the country’s […]

Myanmar’s largest Chinese-invested garment company launches new factory

YANGON, Oct. 27 (Xinhua) — Myanmar’s largest Chinese-invested garment company launched a new factory in Yangon on Friday. Myanmar SUMEC Win Win Garments Co., Ltd, Myanmar’s largest exporter in garment sector, and a branch of SUMEC Textile and Light Industry Co., officially started operating a new factory in Shwe Pyi Thar Industrial Zone in Yangon. […]

Myanmar expects 6 bln USD foreign direct investment yearly

NAY PYI TAW, Sept. 12 (Xinhua) — Myanmar is expecting to attract about 6 billion U.S. dollars of annual foreign direct investment starting from 2018, U Maung Maung Win, deputy minister of the Ministry of Planning and Finance said Tuesday. In accordance with the Foreign Direct Investment Promotion Plan (FDIPP), the country is expecting about […]

Myanmar eyes junta’s old tricks to fight weaker currency

YANGON — Desperate to halt the severe depreciation of its national currency, Myanmar’s democratically elected government may revive drastic measures that were employed by the military junta. The kyat has lost about 20% of its value against the greenback in the past six months due to Myanmar’s growing fiscal and trade deficits stemming from lower […]

Myanmar current gov’t allows 38 offshore blocks for gas exploration tender

Subscribe to our tender alert mailing list Myanmar’s current term of government has allowed 38 offshore blocks for tender for gas exploration, leaving 13 blocks for further undertaking, an official report said Wednesday. There have been a total of 51 offshore blocks reserved for gas exploration tender. In addition, there are also 53 onshore blocks […]

Myanmar sees rise in foreign contracted investment

YANGON, July 18 (Xinhua) — The foreign contracted investment in Myanmar hit 2.4 billion U.S. dollars in the first three months of the fiscal year 2015-2016, according to official statistics released on Saturday. During the period, the Myanmar Investment Commission approved projects involving 46 domestic and overseas firms in sectors including manufacturing, construction, real estate […]