Free Knowledge... From People... To People
Search by Date Myanmar Version Mobile Version
 Miscellaneous NEWS
Updated on October 9, 2018 From Mizzima

Myanmar to hold investment fairs to spur development

Myanmar is making preparations to hold a business forum in Mandalay, the country's second largest city in the north, on Nov. 9, aiming to promote trade and investment for the development of Mandalay region, according to the Directorate of Investment and Company Administration (DICA) Monday.
        Such a forum is partly aimed at driving development more evenly among all states and regions.
        The forum will showcase business opportunities in the region, familiarize new business law and regulations and the investment environment of Mandalay region and widen network between foreign investors and local business community, said the organizer.
        High level speakers, officials from the government side and the leading personnel from the private sector will speak on the occasion, the organizer added.
        During the event, a site tour to some industrial zone, new Mandalay resort city project and national park as well as some potential investment areas will be arranged by the Myanmar Investment Committee and regional authorities.
        With a population of 1.2 million, Mandalay, which is a trading hub and logistic hub in northern Myanmar, has set its sight on further industrialization and enhancement of its economic condition.
        According to Mandalay Region Investment Committee, the regional government has granted five foreign direct investment (FDI) projects worth 13.633 million US dollars from August 2017 to June 2018.
        Myanmar government formed the Mandalay Region Investment Committee in July 2017, entrusting power to the regional authorities to approve FDI sought in the region which does not exceed an initial investment of 5 million US dollars.
        Meanwhile, Myanmar recently reformed its investment commission and enforced a new companies law which took effect on Aug. 1, aiming to attract foreign investment, to allow companies to benefit from the new Myanmar Companies Law which has abolished the mandated system of submitting an authorized capital as well as the requirement of an article of association and a memorandum of association previously prescribed.
        Meanwhile, organized by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), Myanmar is also planning to hold an investment summit in the capital of Nay Pyi Taw on Jan. 8-9, 2019, aiming to develop domestic economy, to promote local and foreign investment in the country's regions and states as well as to encourage public-private partnership in the country.
        Investors from countries including the United States, Britain, China, India, Japan, South Korea, Australia, Singapore and Thailand will also be invited to the event.
        The authorities are striving to seek investments from both home and abroad as well as employment in the country's major sectors, manufacturing, garment, electricity and energy, foodstuff, tourism, education, healthcare and land through the summit.

View Count : 90 | Posted by www.free4reader.com
 

~ Latest News ~

Two fighter jets crash in Sagu, killing three
International White Cane Day event uplifts spirit of the disabled
Myanmar Fishery Federation will Implement 100 Acre Project for Fish Farming
Pride of Myanmar Awards Starts to Recognize Individuals and Groups in Myanmar
Royal Konbong descendants marks 140th anniversary of King Mindon demise
Tiger house gets blue plaque
Killing of monk causes outrage in Shan State
Demonstration supporting Tatmadaw held at Maha Bandoola Square
Wirathu hits back at UN, international community
Government, NCA signatories hold preliminary meeting
35-year-old fisherman losses lag in crocodile attack in Bogalay
PEN calls for release of arrested Eleven Media Group journalists
MPC denounces Yangon regional government’s charge against three senior journalists of Weekly Eleven
Hanthawady U Win Tin Foundation clinic in need of funds and medicine
Truckers strike over partial truck ban in Yangon
Yangon Region government explains arrest of journalists from Eleven Media
Refugee family makes rare return to Myanmar from Bangladesh
Macao granted visa-free access to Myanmar
UWSA imposes restrictions on Christians
TNLA agrees to release Nan Mo Hom
12-wheeled truck laden with hundreds of illegal jade stones seized in Kyaukme
MP Kyaw Zeya to testify as defendant witness in the case against EMG journalists
Hyacinths overgrowth in Taung Thaman Lake hinder small boats
Eight States and Regions may get more rain due to depression
Father and child killed by falling banyan tree in Mandalay
Polish-funded fire engines arrive in Myanmar
Cyclone “TITLI” to intensify within 24 hrs
Ancient engraving can be explored at Kyay Myin Monastery in Mandalay
100 years old cameras to be exhibited in Yangon
Nationalist writer jailed for two years for defaming state
Ethnic Rakhines protest outside Myanmar embassy in Tokyo
Gambling shops become hub of drug users in Shan
FU Yuen garment worker strike continues
Yangon New World Project, Mya Yeik Nyo hotel services already suspended
Legislation in the works to regulate multi-level marketing
Myanmar may lose EU trade privileges
Former information minister call for Reuters retrial
UWSA releases 100 ethnic Wa Christians
Thai immigration authorities detain 68 illegal migrant workers
Myanmar destroys Ivory, elephant and other wild animals' parts worth 13 million dollars
More News