Myanmar Investors Newsletter

Myanmar leader Aung San Suu Kyi on Saturday made a pitch to foreign investors, promising a clearer legal framework and opportunities in untapped economic sectors, two weeks after U.S. President Barack Obama lifted most sanctions on the country.

Since taking power in April, Suu Kyi has been criticized for delays in forming a commission to approve foreign investment projects, overzealous scrutiny of construction sites in the country's largest city, and an economic plan that lacked details.

That, combined with a big political shake-up after the first democratic elections in decades, meant foreigners invested only $380 million from April to July, down from $2.6 billion in the corresponding period last year.

The situation changed in September, when Suu Kyi visited Washington, where Obama announced his intention to remove economic sanctions. Suu Kyi quickly followed with a push to pass foreign investment law and other necessary regulations.

"Our government noticed particular criticism from the public that an economic growth of the country is slowing," said Suu Kyi at a meeting with foreign donors, diplomats and investors in the capital Naypyitaw.

 

 

Key Myanmar Statistics

GDP - USD 59.4 Bn
GDP Growth - 8.5%
Population - 51.41Mn
Inflation - 8.39%
Bank Deposit - 8%
Bank Lending - 13%

Key Myanmar Statistics

  • August-231,518.4
  • August-221,520.0
  • August-211,522.7

    • Weekly Overview

    Politics
    Myanmar's Suu Kyi in pitch to foreign investors after Obama lifts sanctions

    Myanmar leader Aung San Suu Kyi on 22nd October 2016 made a pitch to foreign investors, promising a clearer legal framework and opportunities in untapped economic sectors, two weeks after U.S. President Barack Obama lifted most sanctions on the country.

    Read More
    Myanmar army forces hundreds of Rohingya villagers from homes - witnesses

    Hundreds of Myanmar's Rohingya villagers are facing a second night hiding in rice fields without shelter, after the army on 23rd October 2016 forcibly removed them from a village in a crackdown following attacks on border security forces.

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    UN envoys urge Myanmar to probe killings, arrests by security forces in Muslim-majority region

    United Nations human rights experts have called on Myanmar to investigate allegations that security forces have killed unarmed civilians, burned villages and made arbitrary arrests in a Muslim-majority region where a crackdown was launched following attacks on the border police.

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    Labour ministry to target migrant workers in efforts to boost economy

    Aiming to both bolster the economy and support the return of Myanmar citizens working abroad, the minister for labour announced plans to stimulate the country's job market.

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    Tatmadaw, SSA-N fighting displaces 400 civilians

    Fighting between the military and the Shan State Army-North (SSA-N) in Thibaw/Hsipaw township, Shan State, has displaced as many as 400 villagers over the past two days, according to a local MP.

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    Business & Investment
    SGD 70Mn Tourism businesses to be spun off by Yoma Strategic Holdings in reverse takeover of SHC Capital Asia

    Yoma Strategic Holdings announced on Monday (Oct 24) that it will be spinning off its tourism-related business as part of a reverse takeover (RTO) of Catalist-listed SHC Capital Asia Ltd.

    Read More
    TrueMoney launches transfer service for workers in Thailand

    Bangkok-based fintech company TrueMoney has launched a funds transfer service that aims to capitalise on the millions of Myanmar migrant workers in Thailand who need to send money home.

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    Investment Law Rules and Regulations Released by March

    Rules and regulations for the newly enacted Myanmar Investment Law will be released in three months at the earliest and by the end of March next year at the latest, according to U Maung Maung Win, deputy minister of national planning and finance.

    Read More
    Govt Unveils Detailed Economic Policies

    Long-awaited detailed economic policies were announced by the government in Naypyidaw today with State Counselor Aung San Suu Kyi pledging a secure business environment for both local and foreign investors.

    Read More
    World Bank sees progress and problems for businesses in Myanmar

    Electricity supply, land registration and access to credit are still serious headaches for a new venture in Myanmar. But the country continues to climb the World Bank's country rankings for ease of starting a business.

    Read More
    FMI to partner with Manaung Island firm

    First Myanmar Investment (FMI) has formed a joint venture with a company owned by residents of Manaung Island in Rakhine State, which will develop the island and build infrastructure, according to an FMI announcement on the Yangon Stock Exchange on 25th October 2016.

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    MTSH (Myanmar Thilawa SEZ) share split given green light

    Myanmar Thilawa SEZ Holdings shareholders approved a share split at the company's recent extraordinary general meeting, MTSH said on 24thOctober 2016.

    Read More