|US Trade Representative Mr Michael Froman greets the Minister of Electric Power, U Khin Maung Soe, at the signing ceremony for the solar power project, in Nay Pyi Taw on August 28. Looking on are Myanmar officials and the US ambassador to Myanmar, Mr Derek Mitchell. Photo: US embassy|
An agreement to build Myanmar's first solar energy project at an estimated cost of about US$480 million has been signed by United-States based ACO Investment Group and the Ministry of Electric Power, US Trade Representative Michael Froman said in a statement.
TOKYO (AFP) - Myanmar domestic carrier Asian Wings Airways has expressed disappointment that Japan's All Nippon Airways has dropped its plan to buy a 49 percent stake in the airline.
TOKYO (AFP) - Japanese mobile carrier KDDI says it is planning to link up with trading house Sumitomo in a deal to invest about US$2.0 billion in developing wireless networks in Myanmar.
While local banks may open as many branches as they like, foreign banks entering the market will be initially restricted to one branch if they operate solely as ‘Foreign Direct Investment’ operations, the Myanmar Central Bank has said.
|Myanmar's foreign investment law controversially requires foreign companies to invest a minimum of five million dollars. Economists and some officials have previously criticised the minimum as likely to scare away the small and medium-sized companies that the country desperately needs to create jobs. Photo: EPA/LYNN BO BO|
Myanmar’s Directorate of Investment and Company Administration has granted 10 more foreign investors to trade in Myanmar.
A stock exchange must be established to help protect ignorant investors, Deputy Finance Minister Dr Maung Maung Thein said in the Amyotha Hluttaw on June.