In 2019-20 fiscal year, the power production sector, oil and gas sector and logistics sector are likely to see a massive inflow of foreign direct investments, said U Aung Naing Oo, Permanent Secretary of the Ministry of Investment and Foreign Economic Relations. “In 2019-20 FY, the first promising sector is electricity production and power plants. […]
Myanmar economy to grow by 6.6% in 2020: world bank
November 19, 2019 by
The Myanmar economy is projected to grow by 6.6 percent in 2020, according to the World Bank, a tad higher than its 6.5pc projection for this year. Economic growth is expected to further increase to 6.7pc in 2021 and 6.8pc in 2022. According to the annual World Bank East Asia and Pacific Economic Update, growth […]
More oil and gas investments expected next year
October 24, 2019 by
U Thaung Tun, Union Minister for Investment and Foreign Economic Relations, is expecting foreign direct investments in the offshore oil and gas industry to increase in 2020, once proposals for exploration and production are received, evaluated and approved. At the 30th regular meeting of the Private Sector Development Committee with Myanmar entrepreneurs on October 19, […]
Better implementation of the law needed to draw foreign investors
June 17, 2019 by
Lack of coordination between the Union and regional governments on development policies, red tape and weak implementation of new laws has hampered the flow of foreign direct investments (FDI) into Myanmar, said U Aung Naing Oo, permanent secretary of the Ministry of Investment and Foreign Economic Relations. U Aung Naing Oo pointed out that having […]
Myanmar wins award for research on biomass production
January 3, 2019 by
The Myanmar Aerospace Engineering University was selected among participants from 182 countries as this year’s winner of the Energy Globe Award in Japan. Myanmar’s research presented the concept, design and construction of the device for thermogravimetric measurements alongside the results from tests carried out on wood pellets. The main objective is to study the viability […]
More Singapore firms planning to invest in Myanmar in next two years
November 28, 2018 by
Singapore companies have big plans to expand in ASEAN over the next two years and Myanmar, with its growth potential and overall investment climate, is on the cards for many, according to a recent survey by the Singapore Business Federation (SBF). The survey, conducted from December 2017 to March 2018, collected views from 1036 Singapore […]
Daw Suu pitches Myanmar to ASEAN, vows to improve business environment
November 15, 2018 by
State Counsellor Daw Aung San Suu Kyi in Singapore yesterday sought to drum up investor interest in Myanmar, couching the country’s economy as “Southeast Asia’s final frontier market with innumerable investment opportunities.” Daw Aung San Suu Kyi was delivering her keynote speech at the 2018 ASEAN Business and Investment Summit in the city state, where […]
More foreign investments now likely in pearl farming industry
November 2, 2018 by
The Myanmar Pearl Law has been amended for the second time to allow foreign direct investments (FDI) in the sector, U Min Oo, managing director of the Myanmar Pearl Enterprise, told The Myanmar Times. According to U Min Oo, the pearl production sector is now among the extraction sectors that will be open up to […]
