Myanmar Investment Commission seeks to increase foreign participation in logistical services and manufacturing sectors
31 January 2018
On 22 and 26 December 2017, the Myanmar Investment Commission (“MIC”) issued invitations to invest in various sectors in order to foster greater investment into Myanmar. According to the MIC’s press release on 28 December 2017, MIC had, as of that date, permitted and endorsed 174 foreign direct investment enterprises, including investment into the Thilawa Special Economic Zone.
These investments in total amounted to over US$5 billion. On 26 December 2017, MIC invited investors to invest in logistical services located at major cities and trading hubs. The specific types of investment areas open for participation are dry port services, bonded warehouse services, high-way bus and freight terminals, and warehouses and wholesale centres.
The invitation of 22 December 2017 sought investment in specific manufacturing activities, including telecommunications equipment, electricity distribution and medicine.
The investments proposals must be submitted in accordance with the Myanmar Investment Law to MIC.