Workers tailor and arrange clothing at a garment factory at Hlaing Taryar Industrial Zone in Rangoon.
Reposted from Irrawaddy
RANGOON — Foreign investment in Myanmar was almost five times higher in the last fiscal year than the previous year, figures published on Monday showed, and a senior investment official said much of it went into garment manufacturing.
“Local and foreign investment in Myanmar increased by five times in 2012/13,” official newspapers reported President Thein Sein as saying in a speech in Mandalay on Sunday.
“Over $1.419 billion foreign direct investment was made for 94 enterprises while local investors made 1.1 trillion kyat (US $1.3 billion) for 65 enterprises, creating a total of 82,792 job opportunities,” he said. More…
Reposted from The UB Post
By B. Khash-Erdene
Cabinet Minister Ch.Saikhanbileg last week submitted a revised draft of the “Law on Regulation of the Foreign Investments in the Strategically Significant Industries” to parliament.
The law in question currently requires foreign investors to obtain parliamentary approval when contributing more than a 49 percent stake or investing more than 100 billion MNT (70 million USD) in “strategic sectors,” which include the mineral resources, banking, finance, media, and telecommunications industries. More…
Reposted from The Nation
By Matavee Tunrungwetjarun
Subsidiaries, mega projects in the pipeline
Fragrant Property has announced an investment of more than US$300 million (Bt8.8 billion) to expand its business in Myanmar.
The company has allocated an initial budget of about $40 million to the registration of two subsidiaries in that country, Myanmar Fragrant Development and Myanmar Fragrant, to undertake property business there, especially involving city planning, electric train systems and general utilities.
Chief executive officer James Duan said the company had offered two mega-projects to the Myanmar government. More…
Ethiopia is seeking to attract export-driven manufacturers by building industrial zones
Reposted from Bloomberg Businessweek
By William Davison
Ethiopia will spend 900 million birr ($49 million) to open its first industrial hub for export- oriented manufacturers in a bid to deliver faster economic growth, Industry Minister Mekonnen Manyazewal said.
South Korean garment-makers are among companies in talks with the government about establishing operations at the planned site in the capital, Addis Ababa, Mekonnen said in an interview in the city on March 15. The facility is scheduled to open before the fiscal year ends on July 7, he said.
“This is one of the key strategies to facilitate and support foreign and domestic private-sector partners and particularly to enhance exports,” Mekonnen said. “It’s key for our industrialization.” More…
Reposted from Monet Capital
By Vidur Jain
The Government of Mongolia (GoM), looks to be tight for cash as is becoming apparent through their recent action. The Government has halted the “100 Thousand Apartments” program and the low-interest financing for its would-be residents. This has led to resentment amongst the successful housing applicants, who are threatening a hunger strike on the Sukhbaatar Square in front of the parliament building. More…
Reposted from VietNamNet Bridge
Vietnam welcomes the investments in the healthcare sector.
The success of the Vietnam-France Hospital has prompted more and more investors to pour money into high grade hospitals which aim to serve high income earners in Vietnam. Thoi bao Kinh te Saigon has reported that two foreign and one domestic investors would join forces to build a big hospital in Bien Hoa City of Dong Nai province. The Dong Nai provincial Planning and Investment Department has confirmed that it has granted an investment business certificate to the project on a hospital on the Highway No. 51. More…
Iraqi Kurdistan is aiming to diversify its economy and attract more foreign investment
Reposted from Al-Monitor
By Abdel Hamid Zebari
The Kurdistan Region of Iraq is preparing to change its investment approach to focus on new areas of foreign and local investment — including tourism, agriculture and industry — after having focused exclusively on housing and oil for the past six years.
Despite the fact that oil investments are the largest investments in the Kurdistan region, they fall outside of the investment law. These investments are carried out in a differ manner from those in business, industry and agriculture.
According to statistics obtained by Al-Monitor from the General Investment Authority in the Kurdistan Region, foreign and local investments have reached $24.5 billion across 521 projects extending over an area of 8500 acres in the region’s three major cities, Erbil, Sulaymaniyah and Dohuk. More…
Ethiopia, whose economy grew 8.5% in 2012, is promoting investment in infrastructure, natural resources, and agro-processing
Reposted from Bloomberg
By William Davison
Ethiopia’s government plans to attract more foreign investment and boost domestic savings as it struggles to finance infrastructure and other development projects, State Minister of Finance Abraham Tekeste said.
The government is seeking “concessional loans” from development banks for roads and power lines and is “aggressively promoting” investment from Europe and the Middle East, Abraham said in an interview in the capital, Addis Ababa. Natural resources, improving infrastructure and cheap labor and power mean there are “bankable” opportunities in areas such as chemicals and agro-processing, he said. More…
Reposted from KPL Lao News Agency
Mr.Somdy Douangdy, Ministry of Planning and Investment spurs foreign investment.
The government has been able to attract 156 projects totally worth USD 2.5 billion of domestic and foreign investment in 2011-2012. This was achievement in the planning and investment sector thanks to the effort and policy of government to spur domestic and foreign investment. More…
Reposted from The Phnom Penh Post
By Hor Kimsay
The three main Asian economic powers, China, Japan and Korea, were the largest investors in Cambodia
South Korea replaced the UK as the largest investor in Cambodia last year, with about $287 million injected, 12.5 per cent of the total foreign direct investment, according to data from the Council for the Development of Cambodia (CDC). More…