TODAY

Myanmar has received over $3m in FDI this FY

MYANMAR has received over US$3 million in foreign direct investment form China, Singapore, Thailand and Britain over the past three months, according to the Myanmar Investment Commission.

Among the 43 investor countries China remains the investor for Myanmar with approved capital of round $18 billion over 130 investment projects, according to official figures released by the Directorate of Investment and Companies Administration.

FDI has been coming into Myanmar since 1988; the majority of investment went into the country’s oil and gas sector, manufacturing industry, real-estate industry, mining, hotels and tourism, services business, livestock, agriculture and construction.

Myanmar has received nearly US$64 billion in FDI since 1988 up until June this year and has been over 1,100 development projects across the 12 investment segments previously mentioned.

Ref: GNLM, 30 July 2016

Government entreated to permit exportation of domestically manufactured products made from imported seafood

THE Myanmar Fishery Products Processors and Exporters Association (MFPPEA) has announced they will call on the Ministry of Agriculture, Livestock and Irrigation to permit the importation of fish and shrimp from overseas to be domestically manufactured into value-added products for export to foreign markets.

The exportation of fish and shrimp overseas is presently conducted through a method of cutting, manufacturing and packing (CMP), while exporters lament the fact the meat and fish sector is not yet in a position whereby it can import raw products from abroad and manufacture them domestically ready to be exported back overseas.

Ref: GNLM, 31 July 2016

European companies not interested to establish auto manufacturing factories in Myanmar

EUROPEAN companies are not very much interested to establish auto car companies in Myanmar because cars manufactured form European countries are so expensive that only a small number of Myanmar can afford to buy, said an official from Myanmar Automobile Manufacturers and Distributors Association.

However, European companies have planned to open car showrooms in Myanmar to penetrate Myanmar’s auto market. Only Japan companies will make investment in establishing the auto manufacturing companies starting from 2017.

Ref: GNLM, 1 August 2016

Second phase project of Thilawa SEZ on 2,000 hectares to kick off at the end of monsoon

THE infrastructure building of second phase project on 2,000 hectares of land at Thilawa Special Economic Zone (SEZ) will kick off at the end of monsoon, said U Win Aung, the chairman of Myanmar Thilawa SEZ Holding Public Limited.

Ref: GNLM, 1 August 2016