Govt takes control of investment body
The Myanmar Investment Commission is set to lose its independence and be moved under the control of the Ministry of Planning and Finance.
MIC secretary Aung Naing Oo said: “The MIC was a separate and independent entity but the Indonesia Investment Coordinating Board reports directly to the president. Board of Investment of Thailand is under the direct supervision of the prime minister, despite being formed by the ministry of industry. The new government wants to put it under the Ministry of Planning and Finance,” Aung Naing Oo added.
The 11-member MIC is chaired by Kyaw Win, planning and finance minister, while Aung Naing Oo is also secretary of the Directorate of Investment and Company Administration. The MIC will invite investment that can create employment and build infrastructure. – Myanmar Eleven
UK funds solar power
development in VN
The UK Foreign & Commonwealth Office, Dragon Capital Group and HCM City’s Energy Conservation Centre have announced the funding of an initiative to develop rooftop solar photovoltaic systems in HCM City and the provinces of Binh Duong, Long An and Dong Nai.
The systems are expected to produce clean and reliable energy.
The UK government has allocated 1.1 million pounds (Bt51 billion) to fund projects in Vietnam through the Prosperity Fund in the 2016-17 financial year. Technical support will be offered to selected rooftop solar power systems to conduct pre-feasibility studies, solar radiance resource measurement and financial viability evaluation.
The solar hub will gather data from existing sites to build a database of solar information accessible to the government, suppliers, consultants and businesses wishing to generate solar energy. Assessment of legal and licensing implications of the government's draft solar decision will be one of the project activities.
The findings and case studies will be published on a solar-dedicated website for public access and shared with city and provincial governments to support policy in promoting solar energy. – Viet Nam News
Aeon Mall opens
3rd HCMC outlet
The third mall Aeon Mall in HCM City (HCMC) opened in Binh Tan District last Friday.
Covering more than 110,000 sq.m at the International Hi-Tech Healthcare Park in Binh Tri Dong B Ward, the four-storey mall has a large supermarket, restaurants, cafes, fashion, cosmetics and sports shops, a food court, a CVG cinema, and a parking lot with a capacity of 1,500 cars and 4,000 motorbikes.
Eighty per cent of the stalls are owned by Vietnamese businesses and 20 per cent by Japanese and others. The opening day drew a big crowd, attracted in part by discounts of up to 50 per cent offered by many shops. It is the Japanese retailer’s fourth mall in Viet Nam. |— Viet Nam News
