pproved Foreign Direct Investment approvals jumped in April on the back of significant declared investment in the oil and gas industry, according to statistics. A total of US$2.2 billion worth of declared investments were approved in April, with more than $2 billion of that from the oil and gas sector. The government has targeted $6 […]
Foreign investment to grow in Myanmar
June 25, 2014 by
Myanmar’s Directorate of Investment and Company Administration has granted 10 more foreign investors to trade in Myanmar. The announcement on June 21 includes six “Foreign Direct Investment” organisations, including the United States-based Colgate-Palmolive conglomerate and four garment manufacturers: Fu Yuen Garment Company from Macau, Eslite Garment Company and Polar North Garment Company from Taiwan, and […]
UPP Gets MIC Nod on $46-m Power Plant
May 30, 2014 by
Singapore-listed conglomerate UPP Holdings Ltd said the Myanmar government has issued certificate of incorporation and the final form of permit to its power generation subsidiary to carry on a power plant project in the energy-starved Southeast Asian country. The new firm, UPP Power (Myanmar) Ltd, will see an investment of $46.511 million, approved by the […]
YCDC looks to curb high-rises as developers push back
May 5, 2014 by
A zoning map of Yangon city has been drawn up for discussion among construction professionals, with Yangon City Development Committee hoping to have the plan submitted to the Yangon Region Hluttaw later this year. The colour-coded map shows areas of the city where high-rises will be allowed, and where building heights will be restricted. Following […]
Electricity Rate Hike Could Hurt Competitiveness, Raise Consumer Prices
March 26, 2014 by
YANGON — Last week, Parliament approved a government proposal to introduce a long-expected hike in electricity prices per April 1. Business sector representatives now warn that the measures will undercut the competiveness of Burmese industries and lead to a rise consumer prices. Under the new plan, for households using under 100 kilowatt hours, or units, […]
Ministry to sign MoU for Dawei power plant
February 28, 2014 by
The Ministry of Energy has approved plans by the Admin Power & Utility Ltd. to build a 500-MW natural gas power plant in Dawei. The ministry will allow the company to purchase natural gas to build a 50-MW power plant to provide power for regional security as a first phase. “The ministry and the company […]
Lotte, MGS in $81-m JV to Bottle, Distribute Pepsi Products
January 24, 2014 by
</a Korea-based Lotte Chilsung Beverage Co Ltd said it has formed a joint venture with Myanmar Golden Star (MGS) Beverage Co Ltd to bottle and distribute soft drink products including Pepsi. Lotte Chilsung Beverage Co will maintain a 70 percent stake in the business, and MGS will maintain the rest. The capitalisation of the joint […]
Telecom companies still waiting for operating licenses
January 17, 2014 by
The Myanmar Investment Commission (MIC) has yet to issue telecom licences to two foreign operators who were only recently awarded investment permits after winning a competitive tender in June 2013. Norwegian company Telenor and Qatar-based Ooredoo were both declared winners of a bid that granted them permission to provide private telecom services to Myanmar but […]
Six foreign companies receive approval for manufacturing and wood factories
December 9, 2013 by
Myanmar Investment Commission (MIC) has approved six foreign businesses, including the companies from China, India and Singapore, on December 4, to start their operation in the country. The approved businesses consist of two garment factories, one shoe factory, one sporting accessories manufacturing company and two wood factories. Chinese firm Kamcaine Manufacturing Ltd obtained approval to […]
