Toyota Myanmar Co. Ltd held a groundbreaking ceremony at the construction site for its new manufacturing plant at the Thilawa Special Economic Zone on Friday. The US$52.6 million plant is expected to be ready and operating from February 2021 onwards. It will produce 2500 Toyota Hilux pickup trucks per year using the semi knock-down method. […]
IFC, Regulators Assess Corporate Governance of Myanmar Firms
January 25, 2018 by
IFC, a member of the World Bank Group, is working with Myanmar regulators to benchmark the corporate governance practices of Myanmar companies against international standards to help them improve performance, according to a statement. Numerous studies show that stronger governance helps companies operate more efficiently and manage risks better. In cooperation with the Securities and […]
Myanmar’s Manufacturing Sector Attracts over 1.5 Bln USD of Foreign Investment in 9 Months
January 23, 2018 by
YANGON, Jan. 19 (Xinhua) — Myanmar’s manufacturing sector attracted 1.55 billion U.S. dollars of foreign direct investment (FDI) in the first nine months of present fiscal year 2017-2018, according to the Directorate of Investment and Company Administration (DICA) Friday. It was followed by real estate sector with 1.06 billion U.S. dollars and other service […]
Foreigners Allowed to Buy Jointly-Owned Condominium Apartment in Myanmar
January 11, 2018 by
YANGON, Jan. 2 (Xinhua) — Foreigners have been allowed to buy jointly-owned condominium apartment following the new rules under the Condominium Law announced early last month, said legal expert U Naing Lin Zaw Tuesday. In an interview with Xinhua, U Naing Lin Zaw clarified that the minimum requirements for a condominium project are to build […]
Stock Trading Down, But Investors Remain Interested
January 4, 2018 by
The Myanmar Stock Price Index tumbled 23 points, or around 4.7 percent last week, closing Friday at 463.70, after officials from the Directorate of Investment and Company Administration (DICA) said the new Myanmar Companies Law would take at least another 8 months to implement. The new law, which replaces the existing 1914 Myanmar Companies Act, […]
Hotel and Tourism Sector Attracts 115 Local Investments: DICA
December 23, 2017 by
A total of 115 local investments worth over US$686 million (934 billion kyat) were made in the hotel and tourism sector as of the end of November this year, according to the Directorate of Investment and Companies Administration (DICA). Local investors have made 774 investments worth nearly $2.5 billion in the production sector, 46 investments […]
Growth Slower Than Expected, but Rakhine Impact Contained: IMF
November 23, 2017 by
The Myanmar economy expanded by 5.9 percent during the 2016-17 fiscal year, a rate slower than expected due to weak agriculture production and exports and the suspension of several construction projects in Yangon, according to the International Monetary Fund (IMF). As a whole though, economic and monetary conditions have improved. Growth is expected to rebound […]
State Counsellor Stresses Belt and Road Needs to Align National Priorities
August 31, 2017 by
At the BRI summit in May, the State Counsellor stressed that BRI-led projects should complement national priorities and take into account the welfare of local communities, and highlighted the need to ensure responsible business practice. Local analysts and commentators in Myanmar have spelt out some of the benefits and risks of Myanmar’s participation in Beijing’s Belt […]
