Posts in category: INVESTMENT

A new eco-tourism destination will be developed within the Shwesettaw area in Minbu Township, according to the Magway Region Directorate of Hotels and Tourism Department. Under the management of the Magway Region Administration Council and with the suggestion of the Ministry of Hotels and Tourism, the project will be implemented on the 60-acre large area on the right side of Hlay Tin bridge situated on the Minbu-Shwesettaw road.

The tour site will include hotels, motels and resorts in order to provide accommodation for tourists all year round and exhibitions about renowned persons and famous places of Magway Region feeding information about tour sites, distances and local products. Only about the 2-mile stretch from the upper Settaw Yar, Mann Chaung elephant camp, where travellers can also visit golden deer and star tortoises. The eco-tourism site will be only about 4,000 feet away from the upper Settaw Yar.

It will include viewpoints, park, playground and gym, as well as trekking and cycling trails. In developing this eco-tourism site, Shwesettaw area will be developed, employment opportunities for locals increased and so will the tourism service and language skills. This aims to increase the income of villages from tourism, said the Magway Region in charge of Directorate of Hotels and Tourism. People will also be able to make a day trip to the famous Nat Lake area with its lush vegetation and cool mountain climate, which is only a 20-mile drive away from the tour site.

Source: The Global New Light of Myanmar

Myanmar has drawn foreign direct investment of more than US$1.256 billion in the past seven months of the 2020-2021 financial year, including expansion of capital by existing enterprises and acquisitions in the Thilawa Special Economic Zone, according to the Directorate of Investment and Company Administration (DICA). MIC intends to reach an FDI target of $5.8 billion for the current FY2020-2021. The Ministry of Investment and Foreign Economic Relations has been inviting responsible businesses to benefit the country. Myanmar Investment Commission (MIC) ensures to approve the responsible businesses by assessing environmental and social impacts. The commission is working together with the relevant departments to screen the projects.

Japan has been the top source of foreign direct investments into Myanmar over the past seven months of the current FY. It brought in an estimated capital of $518.76 million with three projects, DICA’s statistics indicated. Singapore stood as the second-largest investors this FY with an estimated capital of $388 million from 13 enterprises, followed by China investing $166.75 million in Myanmar. Those enterprises listed from Thailand, India, Japan, Malaysia, Republic of Korea, UK, Viet Nam, Marshall Island, South Africa, Samoa, China, Hong Kong (SAR) and China (Taipei) also made investments this year. MIC and the respective investment committees permitted and endorsed 42 foreign enterprises between 1 October and 30 April in the current FY. Of 42, 21 enterprises pumped FDI into the manufacturing sector.

The power sector received seven projects, and the livestock and fisheries sector attracted five projects. The other service sectors also drew five projects, while the agriculture sector pulled two projects. One foreign enterprise each entered the industrial estate and the hotels and tourism industries. The FDIs stood at $6.9 million from 158 enterprises in the FY2016-2017, $6.119 billion from 234 businesses in the FY2017-2018, $1.94 billion from 89 projects in the 2018 mini-budget year, $4.5 billion from 298 firms in the FY2018-2019 and $5.689 billion from 253 businesses in the FY2019-2020 respectively, the DICA’s data indicated. Those enterprises have created over 96,000 jobs in the FY2016-2017, 110,000 jobs in the FY2017-2018, over 53,000 jobs in the 2018 mini-budget period, over 180,000 jobs in the FY2018-2019 and 210,000 jobs in the FY2019-2020, respectively.

Source: The Global New Light of Myanmar

JICA and SME Development Bank will jointly provide loans for investment projects with an interest rate of 5.5% per annum for up to five years, SME Debelopment Bank has announced. The JICA Loan is a joint venture between the Japan International Cooperation Agency and the SME Debelopment Bank for a five-year loan. The types of businesses that will be able to get loans are those that are specified by JICA. A JICA loan can be applied for up to five years simply by having land and a building as collateral. At least 80% of the loan must be invested in fixed assets, 20% can be used as working capital and the interest rate is 5.5% per annum. This type of loan is suitable for investing in fixed assets, such as the expansion of restaurants, factory Expansion of a building or business building, preparation new construction, purchase of equipment, upgrading machinery.

Applicants for the JICA Loan must submit three license photos taken within six months, copy of registration Copy of household list Valid business license, proof of business and actual residence, three-year income tax return, three-year financial statements (income, expenditure loss / profit statement), mortgage (land and building), map / land History (105/106) written in six months with a note to borrow from SME Debelopment Bank. Oath of ownership of collateral, mortgage title deed, in front of the warranty photo. Next, Left three photos of the yard and business, DICA Registration Number Loan application plan, minutes of the meeting and list of insurance items / values are required.

Over the past three years, the JICA Two Step Loan has provided over 223 billion kyat in agriculture and rural development loans by state and region, with Ayeyarwady Region providing the largest loan of over 56 billion kyat, according to the Central Statistics Office, citing the Myanma Agriculture Development Bank. From July 21, 2017 to the end of October 2020, JICA Two Step Loan provided loans by over 56 billion kyats (56,602.33 million) in Ayeyarwady Region and over 54 billion kyats (54,287.45 million) in Bago Region. 4,154.24 million kyats in Kachin State; 5982.05 million kyats in Kayah State; 8163.06 million kyats in Magway Region; 23016.25 million kyats in Mandalay Region; 9183.63 million kyats in Mon State; 1585.2 million in Rakhine State; 17457.69 million kyats in Yangon Region; 179,258.64 million kyats in Shan State and 5,152.57 million kyats in Nay Pyi Taw.

Source: Daily Eleven

In the last five fiscal years, more than 11,290 billion kyat was allowed to be invested by Myanmar nationals, the largest in the real estate sector, according to figures released by the Directorate of Investment and Company Administration (DICA). From the 2016-2017 financial year to 2021; As of the end of April, 623 Myanmar citizens were allowed to invest in the field, with a total investment of 11,290.723 billion kyats. Myanmar citizens have access to invest heavily in 12 business sectors: real estate sector, services sector, manufacturing sector, transportation and communications, hotel and tourism, electricity sector, industrial zone sector, livestock and fisheries, construction sector, mining sector, agriculture sector and oil and gas sector.

During that period, 41 businesses were allowed to invest more than 3,070 billion kyats in the real estate sector. It is the largest with over 27% of total Myanmar investment. In the manufacturing sector, 228 businesses are the second largest investors with over 2,570 billion kyats. In the service sector, 147 businesses invested nearly 1,880 billion kyats, the third largest. 17 investments in transportation and telecommunications over 1,150 billion kyats; More than 1,130 billion kyats in 115 businesses in the hotel and tourism sector; 17 projects in the electricity sector over 440 billion kyats; Investment in three industries in the industrial zone sector is over 320 billion kyats. 

In the livestock and fisheries sector, 30 businesses have invested more than 350 billion kyats. About 230 billion kyats invested in the construction sector; Investment in the mining sector is over 75 billion kyats. More than 40 billion kyats invested in agriculture; The investment in the oil and gas sector is over 13 billion kyats. According to the annual investment volume of Myanmar citizens, in the 2016-2017 financial year, 1566350.282 million kyats; 36733485.671 million in the 2017-2018 financial year; In the 2018-2019 financial year, 1744585.199 million kyats. 546,039.124 million kyats between April 2019 and September 2019 (budget period); In the 2019-2020 fiscal year, it was 2619395.628 million kyats, according to the Directorate of Investment and Company Administration.

Source: Daily Eleven

The Yangon Region Investment Committee approved an investment of Myanmar citizen and a foreign investment which can create job opportunities for 635 local people. The committee held the 4/2021 meeting at its office in Yankin Township yesterday, attended by the committee chairman Yangon Region Administration Council Chairman U Hla Soe. The committee allowed K2,500 million investments for the production of quality rice and broken rice for export purpose and US$1.643 million foreign investment for the manufacturing of the garment industry through the CMP system. The chairman, members U Aung Than Oo, U Htay Aung and Secretary Director of the Directorate of Investment and Company Administration and the directors from Environmental Conservation and Myanmar Trade Promotion Organization discussed matters related to reports of three companies.

Source: The Global New Light of Myanmar

A fish auction market project in Myeik with an investment of some US$300 million will be implemented as earlier as possible, said an official from the Myeik Public Corporation. The market will be built on Kyweku-Kyaukphya river bank in Myeik town, Myeik District of Taninthayi Region. The new fish auction market project will include constructing a jetty to load and unload the fish, along with the structure of a residential area. The project has been delayed before, and it will now be undertaken as promptly as possible.

The project can bring revenue to the country and create job opportunities for the locals. Phase 1 of the project is to build a jetty to charge and discharge the fish cargoes and make cold storages. In contrast, Phase 2 of the project will cover the construction of the factories to manufacture finished products from raw materials. Phase 3 of the project comprises the construction of the residential areas. And, Phase 4 involves the building of expansion facilities to support the factories.

Concerning the project, a proposal has been submitted previously. But, the project has yet to complete, and a new proposal has been submitted again. The project will be implemented on a 700-acre plot of land. The Union minister and officials will come to inspect the project area, the Myeik Public Corporation official elaborated. Although the fish auction market project was proposed to carry out on 2,000 acres of land, now it will be built on 700 acres of land if the permit is granted. Upon completing the project, the fish market could be taken back from Thailand, where the Myanmar fish market has externally existed for more than 20 years.

Source: The Global New Light of Myanmar

Hong Kong SAR, the third-largest investor in Myanmar, pumped in US$87 million with five projects as of January-end, according to the Directorate of Investment and Company Administration (DICA). Hong Kong puts investment in real estate development, electricity, and garment businesses. Singapore is the top source of foreign direct investments into Myanmar in the first four months of the current financial year 2020-2021, bringing in $378 million under 12 projects.

China stood as the second-largest investors this FY, with an estimated capital of $139.354 million from 10 enterprises. Those enterprises listed from Thailand, India, Japan, Malaysia, the Republic of Korea, the UK, Viet Nam, Marshall Island and China (Taipei) also made investments this year. Myanmar has attracted foreign direct investments of more than US$672.59 million in Oct-Jan of the current FY. They include expanding capital by existing enterprises and acquisitions in the Special Economic Zones, DICA’s statistics indicated. MIC intends to reach an FDI target of $5.8 billion for the current FY2020-2021.

Myanmar is trying to attract foreign investment by providing tax relief, tax incentives, investment opportunities, and fast processing proposals. However, the Ministry of Investment and Foreign Economic Relations is inviting only responsible businesses to the country. The economic interaction between Myanmar and Hong Kong SAR has been increasing rapidly. Hong Kong emerged as the third-largest investor in Myanmar after Singapore and China. Between FY2016-2017 and January 2021, 144 enterprises from Hong Kong brought in foreign direct investment of $2.5 billion into Myanmar, according to an official data on permitted enterprises released by the DICA.

Source: The Global New Light of Myanmar

Myanmar attracted foreign direct investment of more than US$672.59 million between 1 October and 31 January in the 2020-2021 budget year, including an expansion of capital by existing enterprises and investments in the Thilawa Special Economic Zone, according to the Directorate of Investment and Company Administration (DICA). MIC intends to reach an FDI target of $5.8 billion for the current FY2020-2021. The Ministry of Investment and Foreign Economic Relations has been inviting responsible businesses to benefit the country.

Myanmar Investment Commission (MIC) ensures to approve the responsible businesses by assessing environmental and social impacts. The commission is working together with the relevant departments to screen the projects. Singapore is the top source of foreign direct investments into Myanmar in the first four months of the current FY, DICA’s statistics indicated. China stood as the second-largest investors this FY with an estimated capital of $139.354 million from 10 enterprises, followed by Hong Kong SAR investing $87 million in Myanmar.

Those enterprises listed from Thailand, India, Japan, Malaysia, Republic of Korea, UK, Viet Nam, Marshall Island and China (Taipei) also made investments this year. Of 38 foreign enterprises permitted and endorsed by MIC and the respective investment committees between 1 October and 31 January of the current financial year, 20 enterprises pumped FDI into the manufacturing sector. The power sector received six projects, and the livestock and fisheries sector attracted five projects.

Other service sector drew four projects while the agriculture sector pulled two projects, and one foreign enterprise entered the hotel and tourism sector. The FDIs stood at $6.9 million from 158 enterprises in the FY2016-2017, $6.119 billion from 234 businesses in the FY2017-2018, $1.94 billion from 89 projects in the 2018 mini-budget year, $4.5 billion from 298 enterprises in the FY2018-2019 and $5.689 billion from 253 businesses in the FY2019-2020, respectively, the DICA’s data indicated. Those enterprises have created over 96,000 jobs in the FY2016-2017, 110,000 jobs in the FY2017-2018, over 53,000 jobs in the 2018 mini-budget period, over 180,000 jobs in the FY2018-2019 and 210,000 jobs in the FY2019-2020, respectively.

Source: The Global New Light of Myanmar

Singapore is the top source of foreign direct investments into Myanmar in the first four months of the current financial year 2020-2021, according to the data released by the Directorate of Investment and Company Administration (DICA). Twelve Singapore-listed enterprises brought in US$378.327 million into Myanmar between October 2020 and January 2021. Singapore companies mainly put investments into urban development, real estate, power and manufacturing sectors. China stood as the second-largest investors this FY with an estimated capital of $139.354 million from 10 enterprises, followed by Hong Kong SAR investing $87 million in Myanmar.

Those enterprises listed from Thailand, India, Japan, Malaysia, the Republic of Korea, UK, Viet Nam, Marshall Island and China (Taipei) also made investments this year. Myanmar has attracted foreign direct investments of more than US$672.59 million in Oct-Jan of current FY, including the expansion of capital by existing enterprises and investments in the Special Economic Zones, DICA’s statistics indicated. Of 38 foreign enterprises permitted and endorsed by Myanmar Investment Commission and the respective investment committees between 1 October and 31 January of current FY, 20 enterprises pumped FDI into the manufacturing sector. Power sector received six projects, and livestock and Fisheries sector attracted five projects.

Other service sector drew four projects while the agriculture sector pulled two assignments, and one foreign enterprise entered the hotels and tourism sector. MIC intends to reach the FDI target of $5.8 billion for the current FY2020-2021. Singapore has stood as the largest foreign investor in Myanmar since 2012, pulling in the FDI of $1.85 billion in the FY2019-2020, $2.4 billion in the FY2018-2019, $724.4 million in the mini-budget period (April-September, 2018), $2.16 billion in the 2017-2018FY, $3.8 billion in the 2016-2017FY, $4.25 billion in the2015-2016FY, $4.29 billion in the 2014-2015FY, $2.3 billion in the 2013-2014FY and $418 million in the 2012-2013FY respectively. Additionally, Singapore emerged as the second-largest foreign investor in the Thilawa Special Economic Zone, after top investor Japan.

Source: The Global New Light of Myanmar

The country’s foreign direct investments (FDI) may come under threat with at least one major project already put on indefinitely due to the current political unrest. Chief Marketing Officer from the Amata Group Viboon Kromadit told the media on February 2 that the $274 million Yangon Amata Smart and Eco City Project has been suspended indefinitely due to Myanmar’s current forced “transfer of power”. Viboon Kromadit was quoted by other media to have described the situation as “the worst-case scenario” for the project which is backed by Thailand investors. They also reported that the suspension will last until a new election has been called.

The project – jointly developed by the Myanmar Department of Urban and Housing Development and Thailand’s Amata Corporation PCL- is expected to create more than 35,900 job opportunities for locals in the country. The Yangon Region Government announced in December last year that they had already started work on the development. It will built in five phases over the span of five years on 2,000 acres of land in Dagon Myothit, Yangon Region. Myanmar holds a 20 percent stake in the project while the remaining 80 pc is held by the Thai company. Meanwhile, construction of the US$110 million Korea-Myanmar Industrial Complex (KMIC) in Hlegu twonship, Yangon has also commenced and more than 130 Korean businesses have already expressed interest to invest.

Land plots are now on sale. Mr Non Hun Seung, a General Manager at the KMIC, said work on the industrial zone is still ongoing. The Dala bridge project, meanwhile, is trudging on said by the Ministry of Construction. Residents expressed fears that work on the South Korea-Myanmar Friendship Bridge would come to a halt but a senior government official said they are determined to keep the construction going. According to the deputy director-general of ministry, operations cannot be suspended at all. They will continue the drilling work for the installation of the bored piles. They have completed 25pc of the operations. Work on the bridge was temporarily suspended during the COVID-19 pandemic, prompting residents to fear the same when the country’s political unfolded on February 1.

Source: Myanmar Times