Message from U Win Aung, Former Chairman of the Union of Myanmar Federation of Chambers of Commerce and Industry

                Myanmar has emerged from decades of political and economic isolation and currently it is making every effort to reengage with the regional and global community. The Government of Myanmar has introduced tremendous changes in its economic policy to achieve sustained and inclusive economic growth and to reduce poverty. With these changes, Myanmar has now been viewed as a country with strong potential for high growth in the years to come. Its abundant natural resources, strategic location between two most populous states and its large working –age population are its main strengths favouring   government’s efforts for economic development. Combined with these strengths, recent economic reform measures have made Myanmar an attractive market for foreign investors. Since the start of the reform measures in 2011 and particularly after the enactment of the Foreign Direct Investment Law in November 2012, foreign direct investment (FDI) inflow into Myanmar started to rise progressively. Despite that, wide-ranging investment opportunities in the various sectors of the economy have not been fully utilized. For instance, although lack of hotel accommodation is constraining the growth of tourism industry, it is only recently that foreign direct investment in hotels and tourism rose substantially for the first time. Foreign tourists arrivals in Myanmar is still less than those in the Lao Democratic Peoples Republic, a country smaller than Myanmar and with less interesting sights.

            Foreign Investors need comprehensive and latest information and local assistance before they take their investment decisions. This need is more obvious in a new market like Myanmar where rapid changes are taking place, thereby raising concerns about unforeseeable risks. In my capacity as the Chairman of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) , I fully realize these concerns and consequently, have strongly felt the need for an organization that can cater to the needs of foreign investors in terms of information and assistance in a systematic and comprehensive manner. To the best of my knowledge, the Myanmar Investors Development Association (MIDA) was created to fill this gap with a strong focus on the interests of foreign investors and the country’s development. As MIDA is made up of private companies from various sectors of the economy, I am strongly convinced that MIDA can be of immense help for foreign investors and therefore urge them to contact MIDA to be able to take full advantage of the investment opportunities that have emerged in Myanmar

                                                                                                                                                                                                                (WIN AUNG)

                                                                                                                         Chairman

                                                                                                                        U M F C C I

Message from U Khin Maung Aye, Chairman of the Myanmar Investors Development Association (MIDA)

The Government of Myanmar has undertaken sweeping economic reforms over the past several years to liberalize Myanmar’s economy and to open it to foreign investment. The floating of the Myanmar currency (Kyat) and the enactment of the Foreign Invest Law in 2012 are significant reform measures. In addition, the Government enacted the Myanmar Special Economic Zones Law (No.1/2014) in 2014 to attract foreign investment, promote the export of goods and services and create employment opportunities. At present the construction of three major Special Economic Zones (SEZs) is already underway in Dawei (in the south of Myanmar), Thilawa (close to Yangon) and Kyaukphu (Rakhine State). Industrial Zones have also been designated in many parts of the country, totalling 25 in the whole country. The Special Economic Zones and the Industrial Zones provide excellent opportunities for foreign investors. Moreover, there exist tremendous investment opportunities in various sectors of the Myanmar economy, such as agriculture, forestry, mining, infrastructure, oil and gas, and tourism and hotel industry. However, these opportunities remain underutilized for various reasons. Although foreign investors and enterprises are generally aware of the strong political will of the government to open up the country and to create favourable investment climate through preferential policies and various investment incentives, there has been an information gap between potential foreign investors and appropriate local enterprises. As a result, prospective investors are not in a position to make informed decision before investing without first having comprehensive information on economics statistics, policies, laws, rules, regulations, processes, investment environment, market conditions and demand as well as existing and planned projects of Myanmar. Therefore, there has been an urgent need to create an effective entity to provide this service, and to partner foreign investors and enterprises with domestic companies.

With this objective in mind, the Myanmar Investors Development Association (MIDA) was established in early 2015 as a non-profit organization based in Yangon. It is the first of its kind founded as a non-governmental organization with the objective of serving as a medium between international and local companies. Focusing on Myanmar’s emerging market and development potential, it aims to provide the latest information and necessary assistance to investors to enable them to make informed decisions and make full use of the investment opportunities presented by present-day Myanmar. It can also advise foreign companies on the various sectors of the Myanmar economy with the high potential for growth as well as on suitable local businesses. It is able to render technical advice to foreign investors as to how to comply with the domestic laws, rules, regulations, notifications, directives and procedures in the most effective and efficient manner. In this regard, MIDA may also connect foreign companies to local professional entities and the relevant governmental departments and enterprises.

MIDA’s membership is made up of private companies from various sectors of the economy to ensure that it is immensely helpful organization for the prospective foreign investors interested in Myanmar’s economy and potential. You are earnestly invited to contact us when you need information and assistance for your investment decision. If you are seeking the necessary information on investment opportunities in Myanmar, rest assured that MIDA is exactly what you are looking for.

                                 KHIN MAUNG AYE 

                                      CHAIRMAN

       MYANMAR INVESTORS DEVELOPMENT ASSOCIATION

MIC has announced restricted investment activities

          Under its Notification No. 15/2017 dated 10 April 2017, the Myanmar Investment Commission has announced the list of restricted investment activities. The activities are divided into four groups, activities allowed to be carried out only by the Union, activities not allowed to be carried out by foreign investors, activities allowed only in the form of a joint venture with any citizen-owned entity or any Myanmar citizen, and activities to be carried out with the approval of the relevant ministries.

          Notification No. 26/2016 issued by the MIC on 21 March 2016 has been repealed by this Notification.

                                                                                                                                                11 March 2017

Interesting study for investor

          The study entitled “Myanmar : A wave of optimism-will it last”, launched by Roland Berger, a leading global consultancy, is a must to read for potential investors interested in Myanmar. The study is the result of survey of nearly two hundred senior-level executives in Myanmar. The study’s principal message is “ Investors need to act quickly to take advantage of the opportunities ahead ”. Please also see the "Press Release of Roland Berger in Myanmar Language".

6 January 2017

Investment Policy of Myanmar

The Department for Investment and Company Administration of Myanmar posted the Myanmar Investment policy on 21 December 2016. The policy is aimed at supporting the implementation of 12-point Economic Policy of the Government of the Republic of the Union of Myanmar. The full text can be visited at DICA's website (www.dica.gov.mm).