Infrastructure, agriculture sectors at risk of slower investments

Infrastructure, agriculture sectors at risk of slower investments The infrastructure and agriculture sectors could take a hit as a result of the current state of emergency in Myanmar, which could slow economic growth and investment flows into the country, Fitch Solutions said in a report. The research firm on February 1 downgraded its economic growth […]

UMFCCI Vice Chair says impact on economy uncertain

It is uncertain how the current state of emergency will impact the economy and investors will have to wait and see how the situation unfolds in the coming days, said U Maung Maung Lay vice-chair of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). “We cannot predict anything with certainty at […]

Singapore tops FDI list in Myanmar in Q1

Singapore is the top source of foreign direct investments into Myanmar in the first quarter of the current financial year 2020-2021, according to the data released by the Directorate of Investment and Company Administration (DICA). The six Singapore-listed enterprises brought in US$161 million into Myanmar between October and December 2020. Singapore companies mainly put investments […]

Myanmar’s Economic Year in Review

YANGON—The Myanmar government began 2020 with high expectations that it would be the year the economic liberalization and reforms it introduced during the previous four years would begin to bear fruit. However, the COVID-19 pandemic upended its plans, slowing Myanmar’s economic growth to 1.7 percent in fiscal 2019-20 from 6.8 percent in 2018-19, not only […]

Myanmar economy expanded during NLD govt’s term: minister

<a href=”” target=”_blank”><img src=”” width=”600″ height=”250″ /> </a> Myanmar saw a total of US$25 billion in foreign investment capital entering the economy during the National League for Democracy government’s term, said Minister of Investment and Foreign Economic Relations U Thaung Tun. He said the NLD government’s approach to social and economic reform is embodied in […]

Myanmar Signs up with EU’s EuroCham for More Investment

YANGON — Myanmar’s investment agency has signed a memorandum of understanding (MoU) with the European Chamber of Commerce (EuroCham) to attract more investment from the European Union as Myanmar drafts an economic reform and recovery plan to address the impact of COVID-19. On Wednesday, the Directorate of Investment and Company Administration (DICA) and EuroCham in […]

Myanmar FDI approval misses target, but huge projects expected this year

Myanmar saw US$5.7 billion worth of foreign direct investments (FDI) approvals during fiscal 2019-20, just around US$100 million shy of its US$5.8 billion target, said U Thant Sin Lwin, Director General of Directorate of Investment and Company Administration. The shortfall was due to the COVID-19 pandemic, which hampered the flow of investments into Myanmar since […]

Myanmar’s economic growth to recover but FDI under threat: ADB

Myanmar’s economic growth is expected to recover in the coming 2020-21 fiscal year, but the impact of a weakened global economy may affect foreign direct investments (FDI) into Myanmar in the future, according to a recent outlook report by the Asian Development Bank (ADB). Myanmar FDI approvals increased to US$4.3 billion for the three quarters […]

Yangon to push three large FDI projects to boost economy

Yangon to push three large FDI projects to boost economy Yangon Region Chief Minister U Phyo Min Thein, who is also chair of the Yangon Investment Committee, has revealed that the regional government is prioritising the implementation of quickly three industrial zones. Speaking at a meeting of the Yangon Investment Committee last week, U Phyo […]

Tourism, manufacturing in Myanmar hardest hit by COVID-19 pandemic, MTPO says

Tourism and manufacturing exports have been hit the hardest, according to a recent report by the Myanmar Trade Promotion Organisation (MTPO). The MTPO, under the Ministry of Commerce, recently published a survey about the COVID-19 impact on the country’s exports. The study found that 30 percent of businesses are seriously hit while 46pc are moderately […]