Posts in category: INVESTMENT

The number of companies registered on the online registry system, MyCO, reached over 3,800 in the past seven months this year, the statistics released by the Directorate of Investment and Company Administration (DICA) indicated. The registration and re-registration of companies on the MyCO website commenced on 1 August 2018, in keeping with the Myanmar Companies Law 2017. During the January-July period, the number of registered companies on MyCO was 1,373 in January, 188 in February, 163 in March, 254 in April, 686 in May, 775 in June and 433 in July, the DICA’s statistics showed. At present, 100 per cent of the applicants are using the online registration platform, the DICA stated.

Last year, the figures of registered companies stood at 1,415 in January, 1,298 in February and 1,015 in March, only 348 companies in April, 798 in May, 1,314 in June, 1,650 in July, 1,551 in August, 1,378 in September, 1,693 in October, 1,099 in November and 1,521 in December, as per statistics of the DICA. In 2019, the figure stood at 1,733 in January 2019, 1,419 in February, 1,108 in March, and over 1,045 in April, 1,411 in May, 1,307 in June, 1,428 in July, 1,302 in August and 1,181 in September. The figures reached a fresh new peak of 2,059 in October 2019. Then, 1,615 new companies in November and 1,772 in December were recorded, data of the DICA showed. When the online registry was launched in August 2018, 1,816 new companies registered on MyCO. The figure stood at 2,218 in September 2018, 1,671 in October, 1,431 in November and 1,364 in December 2018.

In addition, all registered companies need to file annual returns (AR) on the MyCO registry system within two months of incorporation, and at least once every year (not later than one month after the anniversary of the incorporation), according to Section 97 of Myanmar Companies Law 2017. According to Section 266 (A) of the Myanmar Companies Law 2017, public companies must submit annual returns and financial statements (G-5) simultaneously. All overseas corporations must submit ARs in the prescribed format on MyCO within 28 days of the financial year ending, as per Section 53 (A-1) of the Myanmar Companies Law 2017.

As per DICA’s report, more than 16,000 companies were suspended as of September-end for failing to submit AR forms within the due date. Newly established companies are required to submit ARs within two months of incorporation or face a fine of K100,000 for filing late returns. The DICA has notified that any company which fails to submit its AR within 13 months will be notified of its suspension (I-9A). If it fails to submit the AR within 28 days of receiving the notice, the system will show the company’s status as suspended. Companies can restore their status only after shelling out a fine of K50,000 for AR fee, K100,000 for restoration of the company on the Register, and K100,000 for late filing of documents. If a company fails to restore its status within six months of suspension, the registrar will strike its name off the register, according to the DICA notice.

Source: The Global New Light of Myanmar

The power sector is ranked first with the largest foreign direct investment in the past nine months (Oct-Jun) of the current financial year, according to statistics provided by the Directorate of Investment and Company Administration (DICA). During the October-June period, FDI of over US$3.76 billion, including expansion of capital and investments in the Special Economic Zones, has flowed into the country. MIC and the investment committees of states and regions gave the green light to 44 enterprises to invest in the country. The quantum of investment in power is higher than in any other sector this year, with an estimated capital of over $3 billion.

In May, Myanmar Investment Commission (MIC) permitted one large project from the UK with capitals of US$2.5bn for the construction of a liquefied natural gas (LNG) power plant. The electricity generated by this project will be sold domestically and is expected to support the goal of 100-per-cent nationwide electricity from the national grid by 2030. Of 44 foreign enterprises permitted and endorsed by MIC and the respective investment committees between 1 October and 30 June of the current FY, 23 enterprises pumped FDI into the manufacturing sector with an estimated capital of $256 million. The power sector received the largest FDI of $3.12 billion from six projects and the livestock and fisheries sector attracted six projects worth $19.2 million.

Other service sectors drew five projects ($103 million) while the agriculture sector pulled two projects ($9 million) and one foreign enterprise each entered industrial estate with capital of $81 million and the hotel and tourism sectors bringing in the capital of $28 million. Additionally, the existing enterprises raised capitals of $133.5 million in the transport and communications sector and $8 million in the real estate sector as of end-June. 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. The Ministry of Investment and Foreign Economic Relations has been inviting responsible businesses to benefit the country. 

Source: The Global New Light of Myanmar

A total of 100 companies has been struck off the register as they fail to submit an annual return (AR) on the online registry system, MyCO, according to the Directorate of Investment and Company Administration (DICA). The DICA has notified any registered company which fails to submit its AR on MyCO are to be suspended. The DICA found that 100 companies failed to restore their status within six months of suspension under 430 (F) of Myanmar Companies Law and the companies were struck off the register starting from 5 July, according to the DICA’s notification. All registered companies need to file AR on the MyCO registry system within two months of incorporation, and at least once every year (not later than one month after the anniversary of the incorporation), according to Section 97 of the law.

According to Section 266 (A) of the Myanmar Companies Law 2017, public companies must submit annual returns and financial statements (G-5) simultaneously. All overseas corporations must submit ARs in the prescribed format on MyCO within 28 days of the financial year ending, as per Section 53 (A-1) of the Myanmar Companies Law 2017. As per DICA’s report, more than 16,000 companies were suspended for failing to submit AR forms within the due date. Newly established companies are required to submit ARs within two months of incorporation or face a fine of K100,000 for filing late returns. The DICA has notified that any company which fails to submit its AR within 13 months will be notified of its suspension (I9A). If it fails to submit the AR within 28 days of receiving the notice, the system will show the company’s status as suspended.

Companies can restore their status only after shelling out a fine of K50,000 for AR fee, K100,000 for restoration of the company on the Register, and K100,000 for late filing of documents, totalling K250,000. If a company fails to restore its status within six months of suspension, the registrar will strike its name off the register, according to the DICA notice. The registration and re-registration of companies on the MyCO website commenced on 1 August 2018, in keeping with the Myanmar Companies Law 2017. The number of companies registered on the online registry system, MyCO, topped more than 2,000 in the first half of this year. Normally, MyCO is receiving more than 1,000 applications from new companies every month. At present, 100 per cent of the applicants are using the online registration platform, according to data provided by the DICA.

Source: The Global New Light of Myanmar

As of the end of May of the 2020-2021 fiscal year, more than $ 3,750 million in foreign investment was approved, including more than $ 254 million in foreign investment, including increased investment in the manufacturing sector, according to the Directorate of Investment and Company Administration. From the 2016-2017 fiscal year to the end of May 2021, Myanmar citizens invested more than 2,586 billion kyats in Myanmar’s manufacturing sector, accounting for nearly 23 percent of the total national investment, according to the Directorate of Investment and Company Administration.

From the 2016-2017 fiscal year to the end of January 2021, the national investment in the real estate sector was over 3,071 billion; In other sectors, more than 1,868 billion kyats; In the manufacturing sector, more than 2556 billion kyats; Over 1,141 billion kyats in the telecommunications and transportation sector; Over 1,125 billion kyats in the hotel and tourism sector; More than 436 billion kyats in the energy sector; Over 324 billion kyats in the industrial zone sector; Over 347 billion kyats in the livestock and fisheries sector; Over 228 billion kyats in the construction sector; In the mining sector, more than 75 billion kyats; More than 42 billion kyat has been invested in the agricultural sector and more than 13 billion kyat in the oil and gas sector.

In the fiscal year 2019-2020, 130 new Myanmar venture capital projects were approved, with a total investment of over 1,881 billion kyats, including a total investment of over $ 413 million. The Myanmar Investment Commission has approved a total of 130 new projects for Myanmar citizens in the 2019-2020 fiscal year with a total investment of US $ 266.873 million, including US $ 266.873 billion, for 1535.075 billion kyats. 1881.459 billion kyats was allowed to operate, including 618 million. The Myanmar Investment Commission has approved a total of 245 new ventures for foreign investment in the 2019-2020 fiscal year with a total investment of $ 4.235 billion, and has approved a total investment increase of $ 1.291 billion for 110 existing projects, including an increase in investment of $ 5.56 billion.

Source: Daily Eleven

Livestock and fisheries sector has attracted six foreign investment projects as of May-end in the current financial year 2020-2021 since October, according to the Directorate of Investment and Company Administration (DICA). Those businesses brought in about US$19.2 million, including the expansion of investments by the existing joint ventures.

They are executing broiler farm, pig farming and sales of pigs, production and farming of layers and shrimp, as per data of the DICA. Since 1988-1989 FY, about US$924 million of FDI have flowed into the livestock and fisheries sector. Next, 16 countries have put investment in the livestock and fisheries sector so far.

Among them, Thailand has topped the list of investments, with over $380 million, followed by Singapore with about $130 million. Myanmar’s livestock and fisheries sector is crucial to the livelihoods of many vulnerable households and contribute to improving nutritional outcomes in the country.

Source: The Global New Light of Myanmar

Following the UK moving up a rank with the largest investments made last month, Japan became the second-largest source of foreign direct investments into Myanmar in the past eight months (Oct-May) of the current financial year 2020-2021, according to data released by the Directorate of Investment and Company Administration (DICA). Last month, the UK-listed enterprise brought in large investments of $2.5 million and became the top source of FDI in Myanmar in the past eight months, DICA’s statistics indicated.

Japan stood as the second-largest investors this FY with an estimated capital of $518.76 million from three projects, followed by Singapore investing $428.336 million in Myanmar. Japan focuses more on responsible businesses. Therefore, it thoughtfully considers and learns before they make investments, DICA stated. Additionally, Thilawa Special Economic Zone is a symbol of development in Japan’s investments in Myanmar. Besides, Japan is a development partner of Myanmar.

Japan has been providing comprehensive support in developing the infrastructure including railway, road, and research in Myanmar through the Japan International Cooperation Agency. Since 2016-2017FY, the FDI of over $449.367 million has flowed into the Special Economic Zones (SEZs) from 15 Japanese businesses, under the Special Economic Zone Law. Japan’s investment in Myanmar stood at $768.456 million in the last FY2019-2020, $42.77 million in the 2018-2019FY, $134.5 million in the 2018 mini-budget period (April-September), $384 million in the 2017-2018FY, $60 million in the 2016-2017FY and $219.79 million in the2015-2016FY, respectively, the DICA’s data showed.

Source: The Global New Light of Myanmar

Myanmar has drawn foreign direct investment of more than US$3.7 billion in the past eight months of the 2020-2021 financial year, including expansion of capital by existing enterprises and investments in the Thilawa Special Economic Zone, according to the Directorate of Investment and Company Administration (DICA). 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.

Last month, the UK-listed enterprise brought in large investments of $2.5 billion and became the top source of FDI in Myanmar in the past eight months, DICA’s statistics indicated. Japan stood as the second-largest investors this FY with an estimated capital of $518.76 million from three projects, followed by Singapore investing $428.336 million in Myanmar. Those enterprises listed from Brunei, China, Thailand, India, Malaysia, Republic of Korea, Viet Nam, Marshall Island, Samoa, Hong Kong (SAR) and China (Taipei) also made investments this year. Of 44 foreign enterprises permitted and endorsed by MIC and the respective investment committees between 1 October and 31 May of the current FY, 23 enterprises pumped FDI into the manufacturing sector.

The power sector received six large projects and the livestock and Fisheries sector attracted six projects. Other service sector drew five projects while the agriculture sector pulled two projects and one foreign enterprise each entered industrial estate and the hotels and tourism sectors. 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 businesses 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

Majority of foreign enterprises primarily pumped into the electricity sector in the past eight months of the current financial year, according to the statistics provided by the Directorate of Investment and Company Administration (DICA). The quantum of investment in power is higher than in any other sectors this year. Last month, Myanmar Investment Commission (MIC) permitted one large project from the UK with capitals of US$2.5 billion for the construction of a liquefied natural gas (LNG) power plant. The electricity generated by this project will be sold domestically and is expected to support the goal of cent per cent nationwide electricity from the national grid by 2030.

During the October-May period, FDI of over $3.758 billion, including expansion of capital and investments in the Special Economic Zones, has flowed into the country. MIC and the investment committees of states and regions gave green lights to 44 enterprises to invest in the country. Of 44 foreign enterprises permitted and endorsed by MIC and the respective investment committees between 1 October and 31 May of the current FY, 23 enterprises pumped FDI into the manufacturing sector with estimated capital of $254 million. Power sector received the largest FDI of $3.12 billion from six projects and livestock and fisheries sector attracted six projects worth $19.2 million.

Other service sector drew five projects (worth $103 million) while agriculture sector pulled two projects (worth $9 million) and one foreign enterprise each entered industrial estate with capital of $81 million and the hotel and tourism sectors bringing in capital of $28 million. Additionally, the existing enterprises raised capitals of $133.5 million in transport and communications sector and $8 million in real estate sector in May. 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. The Ministry of Investment and Foreign Economic Relations has been inviting responsible businesses to benefit the country.

Source: The Global New Light of Myanmar

Livestock and Fisheries sector has attracted five foreign investment projects as of April-end in the current financial year 2020-2021 since October, according to the Directorate of Investment and Company Administration (DICA). Those businesses brought in over US$20 million, including the expansion of investments by the existing joint ventures.

They are executing poultry farm, pig farming and sales of pigs, production and farming of broiler and shrimp, as per data of the DICA. Since 1988-1989 FY, about $926.218 million of FDI have flowed into the livestock and fisheries sector. Next, 16 countries have put investment in the livestock and fisheries sector so far.

Among them, Thailand has topped the list of investments, with over $380 million, followed by Singapore with about $130 million. Myanmar’s livestock and fisheries sector are crucial to the livelihoods of many vulnerable households and contribute to improving nutritional outcomes in the country. 

Source: The Global New Light of Myanmar

Following Japan moving up a rank with the largest investments, Singapore became the second-largest source of foreign direct investments into Myanmar in the past seven months (Oct-Apr) of the current financial year 2020-2021,
according to data released by the Directorate of Investment and Company Administration (DICA). Japan is the top investor in Myanmar in the past seven months, bringing in estimated capital of $518.76 million with three projects. Meanwhile, the 13 Singapore-listed enterprises brought in US$388.327 million into Myanmar. Singapore companies mainly put investments into urban development, real estate, power and manufacturing sectors.

China stood as the third largest investors this FY with an estimated capital of $166.75 million in Myanmar, the DICA’s statistics indicated. 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. Of 42 foreign enterprises permitted and endorsed by MIC and the respective investment committees between 1 October 2020 and 30 April 2021 of the current FY, 21 enterprises pumped FDI into the manufacturing sector. The electricity sector received seven projects and the livestock and fisheries sector attracted five projects.

Other service sectors drew five projects while the agriculture sector pulled two projects and one foreign enterprise each entered industrial estate and the hotels and tourism sectors. MIC intends to reach FDI target of $5.8 billion for the current FY2020-2021. Singapore stood as the largest foreign investor in Myanmar, pulling in the FDI of $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 top investor Japan.

Source: The Global New Light of Myanmar