Myanmar to hold investment fairs to spur development

Myanmar is making preparations to hold a business forum in Mandalay, the country’s second largest city in the north, on Nov. 9, aiming to promote trade and investment for the development of Mandalay region, according to the Directorate of Investment and Company Administration (DICA) Monday. Such a forum is partly aimed at driving development more […]

IFC, UMFCCI work to improve food safety in Myanmar

IFC, a member of the World Bank Group, signed an agreement with the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) to help food sector companies address and improve food safety practices. Another goal is to develop the country’s agribusiness sector to increase exports, draw investments, and generate jobs. According to IFC, […]

UMFCCI suggests four points for the country’s economy

Zaw Min Win, President of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) submitted the four-point suggestion to Myanmar State Counsellor Aung San Suu Kyi. On August 27, Myanmar State Counsellor Aung San Suu Kyi held a talk with local entrepreneurs at Nay Pyi Taw. The four points are: export promotion, […]

China Beating Japan in War for Economic Influence in Myanmar

While the Japanese foreign minister and State Counselor Daw Aung San Suu Kyi discussed Rakhine’s development in Naypyitaw last week, a Chinese Communist Party provincial secretary met the vice president to discuss increasing investment in agriculture, transport and technology cooperation. It is not the first time China and Japan have been seen directly competing on […]

Investment Agency Says Business Donations to Government Officials Violate Graft Code

YANGON — The Directorate of Investment and Company Administration (DICA) announced on Friday that companies and body corporates are not allowed to donate money either directly or indirectly to ministries or regional government departments, citing the Myanmar Companies Law 2017, to prevent corruption between government bodies and private companies. U Aung Naing Oo, director general […]

Anti-Graft Commission, UMFCCI sign Joint Anti-Corruption Declaration

Corruption has adverse impacts on economic and administrative sectors, said Aung Kyi, Chair of the Anti-Corruption Commission, at a ceremony to sign the Joint Anti-Corruption Declaration between Union of Myanmar Federation of Chambers of Commerce and Industry and the commission on July 2 in Yangon. “It is known to all that corruption is interrelated with […]

Myanmar to showcase investment projects, reforms in Hong Kong’s Belt and Road forum

The newly-appointed chair of Myanmar Investment Commission (MIC) U Thaung Tun, who is also Union Minister at the Office of the Union Government, is going to lead a delegation to the third annual Belt and Road Summit in Hong Kong this week. Demonstrated by the major economic reforms we have implemented over the past year, […]

Government announces new MIC appointments, U Thaung Tun as new chair

The Union government on Saturday officially announced changes in the ranks of the Myanmar Investment Commission (MIC). According to notification (61/2018), U Thaung Tun, union minster of Ministry of the Office of the Union Government, formerly a member of the MIC, will now be the commission’s chair. Meanwhile, Dr Than Myint, Union Minister of Commerce, […]

Myanmar Avocados Aim to Enter China for Next Season

The avocado was introduced into Myanmar over 70 years ago and has become a major fruit in the country. The hot tropical climate and rich soil of Myanmar make it an ideal place for avocado cultivation. As avocados continue to increase in popularity throughout China, more and more Chinese avocado dealers are turning their gaze […]

Commerce Ministry to sign MoU with Yunnan on agro exports

Ministry of Commerce will sign a MoU with Yunnan provincial government in June to officially export rice, sugar, maize and other agricultural products to China, said U Khin Maung Lwin, assistant permanent secretary of the Commerce Ministry. “Trade Department will sign the MoU with Yunnan province government to export agro products to China and import […]