Posts in category: INVESTMENT

UNION Minister for Commerce U Aung Naing Oo, currently in Nanning, Guangxi Zhuang Autonomous Region in the People’s Republic of China, addressed the Mandalay Region Trade, Investment and Tourism Promotion Conference yesterday.

In his speech, the Union minister said the Mandalay Region is strategically located for the China-Myanmar railway project, China-Myanmar Economic Corridor (CMEC) project, East-West Economic Corridor and South-West Economic Corridor of GMS. Therefore, it was selected as the City of Charm at the China-ASEAN Expo.

As Mandalay is situated at the junction of regional trading routes of economic corridors, the Chinese business people should invest in promising businesses such as food production, garment industry, finished gems and jewellery business, renewable energy and logistics sectors.

At the event, relevant officials also presented matters related to the Mandalay Myotha Industrial Zone project, Amarapura Tourism project, Mingala Mandalay project, Yetaguntaung City project, and fruits and vegetables of Myanmar.

Moreover, they signed five agreements including the Cooperation Agreement of the Luban Workshop Operation Project in Myanmar, two MoUs on economic cooperation, cooperation agreements on trading and supply and honey trading at the event. 

Source: The Global New Light of Myanmar

The Yangon Region Investment Committee (YRIC) endorsed 45 domestic and foreign enterprises in the past eight months (January-August) and the manufacturing sector topped the investment lineups, U Myo Khaing Oo, director of Yangon Region DICA said.
Those enterprises include manufacturing businesses, garment businesses, hotel businesses and service businesses. The majority of them are CMP businesses.
“YRIC gives the go-ahead to 45 wholly domestic and foreign businesses. The CMP garment businesses played a key player among those endorsed businesses in February-August, creating 18,603 jobs for residents,” U Myo Khaing Oo shared information.
China is the leading investor in Myanmar’s CMP garment factories, followed by Chinese Taipei, Thailand, the Republic of Korea and Japan. The clothes and apparel are sent to Thailand, China, Singapore and European countries.
There are 505 garment factories, 48 footwear manufacturing enterprises, eight wig factories and 177 factories engaged in the production of bags, sportswear, sports shoes and socks on a CMP basis in the Yangon Region, in line with the existing rules and regulations. 

Source: The Global New Light of Myanmar

The Ministry of Electric Power’s Department of Hydropower Implementation has announced the initiation of tenders for interested investors in the Shweli-3 Hydropower Project situated on the Shweli River near Mongmit in Shan State (North).
Investors are welcome to participate in the tender for the Shweli-3 Hydropower Project, encompassing tasks such as ongoing implementation, power generation, maintenance, and eventual re-transfer, under the private investment IPP/BOT framework.
Tender documents can be acquired at the Department of Hydropower Implementation (Office No 27) in Nay Pyi Taw from 21 August to 11 September during working hours (10 am to 3 pm) on weekdays except for public holidays, at a cost of K500,000.
Each company is allowed to assign only one representative for obtaining the tender form, and the deadline for tender submissions is set till 1 pm on 24 September. 

Source: The Global New Light of Myanmar

MYANMAR drew foreign direct investments of US$467.793 million in the past four months (Apr-July) of the current financial year 2023-2024, including the expansion of capital by the existing enterprises and the power sector topped the FDI line-ups, according to the Directorate of Investment and Company Administration (DICA).The Myanmar Investment Commission gave the green light to 18 foreign projects from six countries in the past four months, according to the Directorate of Investment and Company Administration (DICA).

Those enterprises from nine foreign countries made foreign investments and also expanded their businesses. Singapore is the top source of FDI so far, investing $335.162 million from four enterprises, followed by China with $124.079 million from ten enterprises. One enterprise each from India, Republic of Korea, Samoa and the USA also made investments this year. The existing enterprises from China (Taipei), China, Hong Kong SAR, Singapore and the UK also increased foreign investments, the statistics released by the DICA indicated. “Myanmar’s power sector attracted $317 million in the past four months. It accounts for the largest share of FDIs in Myanmar this financial year,” said U Thet Paing, director of the DICA.

The agriculture sector drew $1 million from one enterprise. Two enterprises put $317.178 million in the power sector. The manufacturing sector received $48.745 million of FDI, while the transport and communication sector attracted $77.82 million. Over $23 million of FDI was pumped into the livestock and fisheries sector as well. There are a total of 2,404 permitted foreign projects from 52 countries under the Myanmar Investment Law and the Special Economic Zone Law as of the end of July 2023 and Singapore, China and Thailand are the leading investors in the country.

Source: The Global New Light of Myanmar

Singapore ranked first in the foreign direct investment line-up in the past four months (April-July) of the current financial year 2023-2024, the Directorate of Investment and Company Administration’s statistics showed.
Four Singapore-listed enterprises pumped in FDI of over US$335 million into the country in the past four months.
Singapore companies mainly put investments into urban development, real estate, power and manufacturing sectors.
China stood as the second largest investor this FY with an estimated capital of over $124 million by 10 enterprises and the existing ones. China is ranked third in the line-up with more than $105 million from 36 businesses and the existing ones.
One enterprise each from India, Republic of Korea, Samoa and the USA also made investments this year. The existing enterprises from China (Taipei), China, Hong Kong SAR, Singapore and the UK also increased foreign investments, the statistics released by the DICA indicated.
Myanmar attracted foreign direct investments of $467.793 million in the past four months, including the expansion of capital by the existing enterprises and the power sector drew the highest FDI. The Myanmar Investment Commission gave the green light to 18 foreign projects from six countries in the past four months, as per the DICA.
The agriculture sector drew $1 million from one enterprise. Two enterprises put $317.178 million in the power sector. The manufacturing sector received $48.745 million of FDI, while the transport and communications sector attracted $77.82 million. Over $23 million of FDI was pumped into the livestock and fisheries sector as well.Singapore stood as the largest foreign investor in Myanmar in the previous years, pulling in the FDI of $1.158 billion in the 2022-2023 FY, $297 million in the 2021-2022 mini-budget period (Oct-Mar), $1.85 billion in the FY 2019-2020, $2.4 billion in the FY 2018-2019, $724.4 million in the mini-budget period (April-September, 2018), $2.16 billion in the 2017-2018 FY, $3.8 billion in the 2016-2017 FY, $4.25 billion in the 2015-2016 FY, $4.29 billion in the 2014-2015 FY, $2.3 billion in the 2013-2014 FY and $418 million in the 2012-2013 FY respectively.
Additionally, Singapore emerged as the second largest foreign investor in the Thilawa Special Economic Zone, after a top investor, Japan.

Source: The Global New Light of Myanmar

THE private sector is of great importance in implementing the port sector through Public-Private Partnership system because of the ever-increasing need for technology and skilled workers, said Member of State Administration Council Deputy Prime Minister Union Minister for Transport and Communications Admiral Tin Aung San inspecting international jetties at Myanmar International Terminals Thilawa (MITT) and the Rail Bus Engine-RBE locomotive sheds in the compound of Yangon Railway Station yesterday morning.

The Union Minister inspected jetties of the MITT in Thanlyin Township, freight handling jetty and fuel storage tanks of Regency SPC Company, International Bulk Terminal Thilawa (IBTT) Company’s crop jetty, Padauk Shwe Wah Company Limited’s fuel jetty and Wilmar Myanmar Port Terminal (Thilawa) Ltd’s crop jetties and viewed loading and unloading of goods.

Afterwards, the Union Minister heard reports on port service entrepreneurs at Wilmar Myanmar Port Terminal (Thilawa) Ltd.

Officials presented the placement of jetties in 37 plots of land in the Thilawa port area with local and foreign investment to carry out port services, operations of nine container and general cargo jetties, eight fuel and LNG jetties, and two crop jetties, totalling 19 and progress of 18 jetties under construction, and difficulties in work process.

In his speech, the Union Minister said that Myanma Port Authority has to provide necessary assistance for port investors and supervise port services under the law. He highlighted that the private sector is of great importance in implementing the port sector through Public-Private Partnership system because of the ever-increasing need for technology and skilled workers.

After that, the Union Minister arrived at the Rail Bus Engine-RBE locomotive shed in the vicinity of Yangon Railway Station and inspected the condition of repair and completion of repairing carriages of West Corporation.

Source: The Global New Light of Myanmar