Business

First phase of new Danyinkone wholesale market to open in May

Yangon: The first phase of the new Danyinkone wholesale market will be opened in the second week of May, Thaung Tin, deputy head of the markets department under Yangon City Development Committee (YCDC), said on Monday.

The new market is set on an 80-acre space developed by a public company in cooperation with the YCDC. The YCDC has taken out a 70-year lease and the land will be returned after the contract is finished.

MIC publishes list of restricted investment businesses

The Myanmar Investment Commission published the new list of restricted investment businesses on Monday, in line with sections 42 and 100 of the Law of Myanmar Investment Commission.

Restricted businesses include investments which can be run only by the state, investments which can’t be run by the foreign investors, investments which are allowed to be run jointly by locals and foreigners, and those which can be run only with the permission of the respective ministry.

Myint Swe meets business people for fifth time

Tourism is the best business for development of Myanmar’s economy as it can create jobs and income for the people in a short time, says Vice President Myint Swe while he was meeting business people on April 10.

It’s a fifth formal meeting between the vice president and business people.

He suggested that interested businessmen and businesswomen should cooperate with the concerned ministry to make progress in the industry.

Only 10 per cent of oil mills operate at full capacity

The country imports about 0.6 million tonnes of edible oil every year as the annual  domestic consumption is about one million tonnes, said Myint Kyu, chair of Myanmar Edible Oil Dealers Association. 

IRD honours top tax payers

Internal Revenue Department at the Ministry of Planning and Finance honoured top tax payers for 2015-2016 fiscal year, at the Yangon Region government office yesterday.

Myanmar total foreign investment reach US $70 billion this fiscal year.

Myanmar has received 1,246 different types of foreign investments totaling to more than $70 billion between the 1988-1989 and 2016-2017 fiscal year, according to official statistics of Directorate of Investment and Company Administration (DICA).

New industrial zones planned

Five industrial zones are in the process of being selected, according to Aung Naing Oo, secretary of the Myanmar Investment Commission

FDI expected to exceed $6bn

Total 

Myanmar off to good start in FY17-18 investment approvals

By KHINE KYAW

MYANMAR ELEVEN

ASIA NEWS NETWORK

YANGON

Yangon-to-Bago master plan to be prepared

A development master plan for the Yangon-Hanthawaddy-Bago corridor and Yangon's southwest will be drawn up by the Department of Urban and Housing Development of the Construction Ministry and the Korea International Cooperation Agency (KOICA), the government announced. 
 
A project steering committee has been formed with cabinet members of Yangon and Bago regions, ministry representatives and KOICA under the chairmanship of the minister for construction.