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Yangon Orders Closure of Unlicensed Luxury Spa in Myanmar’s Historic Secretariat

YANGON—A newly-opened deluxe spa at Yangon’s Secretariat will have to be closed because it has no operating license, according to the Yangon City Development Committee (YCDC). “We have not officially issued a business license to the spa at the Secretariat. As it is operating without a license, it has to be closed,” U Than, the […]

New investments in Yangon to create over 2740 jobs

Yangon Region Investment Committee allowed eight local and foreign investments which can create 2,749 jobs for locals. Yangon Region Investment Committee held its 15/2019 meeting on September 13, attended by Yangon Region Chief Minister Phyo Min Thein and other government officials. At the meeting, the committee granted the permit to seven foreign investments worth 6.956 […]

No proposals or plan to permit casinos: Yangon Region Chief Minister

THE Yangon Region Investment Committee (YRIC) has not received any proposals for casino businesses, and it does not plan to green light such businesses, said U Phyo Min Thein, the Yangon Region Chief Minister. He made the remarks at a press conference held on Wednesday at the YRIC office. “There is no proposal for setting […]

YRIC permits 11 foreign, domestic projects; to create over 5,600 jobs

The Yangon Region Investment Committee gave the green light to eight foreign and three domestic projects with an estimated capital of US$15.8 million and K6.2 billion, respectively, at a meeting held yesterday. The projects are expected to create 5,630 jobs, according to a press release issued by the YRIC. Since its establishment, the YRIC has […]

New industrial zone proposed northwest of Yangon

Golden Myanmar Investment Consortium, which was formed by investors from China, Hong Kong and Myanmar to develop industrial zones, is planning to set up a new zone in Htantabin township, Yangon, the Yangon Region government and Yangon Region Investment Committee have announced. The creation of the industrial zone is expected to require investments totaling US$500 […]

Myanmar takes new measures to promote foreign investment

YANGON — Myanmar has reformed its investment commission recently and will soon enforce a new companies law in a bid to promote foreign investment. The new Myanmar Investment Commission was reorganized with 13 members with Minister at the Office of the Government U Thaung Tun as chairman. Along with the enactment of the new Myanmar […]

Massive Yangon City Expansion Renders Naypyitaw Pointless

Myanmar’s business capital of Yangon will see a massive expansion to accommodate its growing population and make the city more business-friendly and livable, the regional government said. This will make custom-built capital Naypyitaw, located 367 kilometers in the north in the middle of nowhere, an even more pointless city, observers noted. The New Yangon City […]

Chinese investors eye garment sector

Chinese entrepreneurs have discussed with Yangon Region Investment Committee on the expansion of garment industry in industrial zones in Yangon, said Myo Khaing Oo, joint-secretary of Yangon Region Investment Committee. Aung Htoo, deputy minister for Commerce said: “Currently, Myanmar’s textile industry is rapidly growing. Imports of garment by the EU and Asian countries become high. […]

Prioritised sectors, new investment opportunities in Yangon laid out

At the Yangon Investment Forum on Wednesday, Yangon Chief Minister U Phyo Min Thein announced the five sectors his government intends to prioritise and in which Yangon welcomes foreign investments. U Phyo Min Thein said the trade, logistics, industry, public transport and energy sectors would be prioritised, adding that the Yangon deep sea port, development […]

New industrial zone projects to be developed in Yangon

The government is planning to develop the new industrial zone projects in Yangon as foreign investors have to pay higher land rental, according to the pre-briefing on Yangon Investment Forum 2018, at Cooperative Business Centre in Yangon on May 2. Myo Khaing Oo, Joint-Secretary of Yangon Region Investment Committee said: “There currently are 30 industrial […]