Myanmar Highlights

Myanmar Government targets FDI from East Asia in long-term investment plan

Posted by on Oct 19, 2018 in Highlights | Comments Off on Myanmar Government targets FDI from East Asia in long-term investment plan

Myanmar Government targets FDI from East Asia in long-term investment plan

The Myanmar Government is aiming to attract increased foreign direct investments (“FDI”) from East Asia over the next 20 years under its new Myanmar Investment Promotion Plan (“MIPP”). According to U Than Aung Kyaw, deputy director general of the Directorate of Investment and Company Administration (“DICA”), under the MIPP Myanmar will work on strengthening trade ties with its ASEAN neighbours, Myanmar and also target FDI from East Asia, including South Korea, Japan and Greater China. The shift in focus towards investment from the east follows lowering expectations of major FDI inflows from the west, as international pressure mounts for action to be taken to ease the crisis in Rakhine.

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Myanmar Investment Commission launches Myanmar Investment Promotion Plan

Posted by on Oct 10, 2018 in Highlights | Comments Off on Myanmar Investment Commission launches Myanmar Investment Promotion Plan

Myanmar Investment Commission launches Myanmar Investment Promotion Plan

On 8 October, the Myanmar Investment Commission (“MIC”) launched its Myanmar Investment Promotion Plan (“MIPP”) for the period up until 2036. The plan outlines five strategies to actively promote investments in the local economy, including new policies and regulations, institutional development, infrastructure development and leveraging on local business systems, industries and human resources.

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Local ride-hailing firm Get Ride officially launches in Myanmar

Posted by on Sep 26, 2018 in Highlights | Comments Off on Local ride-hailing firm Get Ride officially launches in Myanmar

Local ride-hailing firm Get Ride officially launches in Myanmar

Myanmar Highlights September 2018 Download PDF | Download word version ‘Get Ride’, a local ride-hailing platform majority owned by the founder of Myanmar’s BOD Tech Ventures, has officially launched its operations in Mandalay. The bike, tuk-tuk and taxi-hailing platform is part of ‘Get’ (“GET”) an omni-channel digital commerce platform established in 2017 by early-stage tech investor Mike Than Tun Win and Nyein Chan Soe Win. GET seeks to emulate Go-Jek, the Indonesian tech company that started as a motorcycle-hailing platform and has since...

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UMFCCI ‘business sentiment survey’ identifies key challenges for Myanmar’s businesses

Posted by on Sep 20, 2018 in Highlights | Comments Off on UMFCCI ‘business sentiment survey’ identifies key challenges for Myanmar’s businesses

Myanmar Highlights September 2018 Download PDF | Download word version A business sentiment survey conducted by the Union of Myanmar Federation of Chambers of Commerce and Industry (“UMFCCI”) has identified the principle challenges facing local businesses. Nearly 1,500 businesses from the services, manufacturing and trade sectors contributed to the survey. The survey found that despite economic growth over the past three years overall business sentiment has decreased by 5%. The survey identified 10 key causes for the decline in business...

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Myanmar’s Ministry of Commerce negotiating the resumption of development works at Dawei SEZ and Kyaukphyu SEZ

Posted by on Sep 12, 2018 in Highlights | Comments Off on Myanmar’s Ministry of Commerce negotiating the resumption of development works at Dawei SEZ and Kyaukphyu SEZ

Myanmar Highlights September 2018 Download PDF | Download word version Myanmar’s Ministry of Commerce has announced it is working towards the resumption of development works at the Dawei Special Economic Zone (“Dawei SEZ”) and Kyaukphyu Special Economic Zone (“Kyaukphyu SEZ”) SEZ. The development of the US$8 billion Dawei SEZ, which has been suspended since 2013 following the Italian-Thai Development Company (“ITD”) withdrawal from a development agreement signed in 2008 due to financial constraints. There were also complaints from the local...

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Myanma Awba Group opens new agrochemical production facility in Yangon

Posted by on Aug 24, 2018 in Highlights | Comments Off on Myanma Awba Group opens new agrochemical production facility in Yangon

Myanma Awba Group opens new agrochemical production facility in Yangon

Myanmar Highlights August 2018 Download PDF | Download word version On 19 August 2018, the Myanma Awba Group (“Myanma Awba”), Myanmar’s largest manufacturer and distributor of agricultural technology, commenced operations at its new agrochemical production facility in Yangon. The US$35 million Hmawbi Agricultural Input Complex (“HAIC”) covers an area of 126 acres. Myanma Awba has contributed US$25 million to finance the HAIC, while the remaining funds have been provided by the International Finance Corporation (“IFC”). The agriculture sector...

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Myanmar Metals announces milestones for Bawdwin mine

Posted by on Aug 17, 2018 in Highlights | Comments Off on Myanmar Metals announces milestones for Bawdwin mine

Myanmar Highlights August 2018 Download PDF | Download word version ASX-listed junior Myanmar Metals Limited (“Myanmar Metals”) has unveiled an accelerated path to redevelop for the Bawdwin polymetallic mine, in Myanmar. Myanmar Metal, has announced that it has, together with its joint venture (“JV”) partners Win Myint Mo Industries Limited (“WMM”) and EAP Global Mining Company, defined a number of clear project milestones for the next 12 months. The milestones will include exploration programmes, a range of engineering and metallurgical...

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​​​​​​​HKEX-listed HGC Global Communications acquires majority stake in leading network service provider in Myanmar

Posted by on Aug 8, 2018 in Highlights | Comments Off on ​​​​​​​HKEX-listed HGC Global Communications acquires majority stake in leading network service provider in Myanmar

Myanmar Highlights August 2018 Download PDF | Download word version HGC Global Communications Limited (“HGC”), (formerly Hutchison Global Communications Limited) a fixed-line operator and internet service provider with extensive local and international network coverage and infrastructure, has announced details of its conditional share purchase agreement between a separate subsidiary of HGC and the shareholders of Golden TMH Telecom Company Limited (“GTMH”), whereby the HGC Group will effectively become the majority shareholder of GTMH on the...

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PTTE in talks with Myanmar Government to develop large gas fired power plant in Yangon region

Posted by on Jul 24, 2018 in Highlights | Comments Off on PTTE in talks with Myanmar Government to develop large gas fired power plant in Yangon region

Myanmar Highlights July 2018 Download PDF | Download word version The Stock Exchange of Thailand-listed PTT Exploration and Production Plc (“PTTEP”) has announced plans to develop and operate a large gas-fired power plant to be situated south west of Yangon, through its wholly-owned Myanmar subsidiary PTTEP International Company Limited. According to PTTEP’s General Manager Piya Sukhumpanumet, PTTEP intends to develop the project in partnership with Global Power Synergy Plc (“GPSC”). Mr. Piya said the project will cost hundreds of millions of...

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Myanmar MEITI reports Myanmar’s oil and gas sector accounts for almost half of the country’s national debt

Posted by on Jul 19, 2018 in Highlights | Comments Off on Myanmar MEITI reports Myanmar’s oil and gas sector accounts for almost half of the country’s national debt

Myanmar Highlights July 2018 Download PDF | Download word version The Stock Exchange of Thailand-listed PTT Exploration and Production Plc (“PTTEP”) has announced plans to develop and operate a large gas-fired power plant to be situated south west of Yangon, through its wholly-owned Myanmar subsidiary PTTEP International Company Limited. According to PTTEP’s General Manager Piya Sukhumpanumet, PTTEP intends to develop the project in partnership with Global Power Synergy Plc (“GPSC”). Mr. Piya said the project will cost hundreds of millions of...

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