Another wait for mine bill

Approval of the Mining Amendment Bill has been delayed again as hluttaw members dispute whether or not some of its provisions are constitutional. The main focus of the current disagreement is whether to grant licences to mining companies for 15 years or 25 years. The bill is an attempt to update legislation that many see […]

Accor hotels set for further expansion

French hotel group Accor is set to expand its Myanmar presence with three budget properties, following its return to the country in 2013. The group will manage two properties in Yangon and one in Bagan under its Ibis brand, according to Accor’s local partner, property developer U Thant Zin Tun, a key member of Myanmar […]

Myanmar-Singapore joint venture to build Thilawa jetty

YANGON – A joint venture company has received government approval to build a jetty and petrol storage tanks at Thilawa port. The Singapore-based Puma Energy Irrawaddy Pte Ltd and Asia Sun Energy from Myanmar have joined hands under Puma Energy Asia Sun. The Myanmar Investment Commission approved the deal during a meeting in Nay Pyi […]

Export Strategy Draft Complete, Awaits Parliamentary Approval

Myanmar’s long-awaited National Export Strategy (NES) has been drafted and is awaiting parliamentary approval, said Daw Thida Win Htay, assistant director of the Department of Export Development. The drafting of the plan, which started in 2012, is a response to the need to increase exports by expanding market access for local producers and products, and […]

Two New Airlines Await OK from Myanmar Investment Body

YANGON — Two new domestic airlines are expecting to get the green light “soon” to begin flying both domestic and regional scheduled routes, according to Win Swe Tun, the director general of Myanmar’s Department of Civil Aviation (DCA). “Both Apex and FMI are waiting for approval from the MIC [Myanmar Investment Commission] to start operating […]

Onshore production sharing deals set to be inked this month

Production sharing contracts for onshore blocks will be signed this month after a half-year delay, according to Ministry of Energy officials. Winners for 16 onshore blocks were announced in October last year, but negotiations on the production sharing contracts necessary for exploration and production to begin have been slow-going, according to an official from the […]

Garment sector sees more investment

Six foreign invested and three local invested firms were given the green light to invest at the first meeting of newly-reorganised Myanmar Investment Commission on May 31. The meeting was held at Yangon Region branch with 43 items on the agenda, including investment proposals. The companies receiving approval included garment makers, surgical-equipment producers and a […]

Foreign ownership scheduled in Condo Law

Foreigners will be eligible to own apartments on the 6th floor or above of condominiums, according to an official draft of the Condominium Law published on November 10 in The New Light of Myanmar. The full text of the draft law also specifies foreigners will be able to buy up a maximum of 40 percent […]

Planning for the Future American law firm opens in Yangon

An American law firm which recently opened an office in Yangon says it is poised to announce investment deals between some of its US clients with leading Myanmar companies. The deals were foreshadowed by Mr Eric Rose, lead director of New York-based Herzfeld Rubin Meyer & Rose (HRMR), which says it is the first licensed […]

DCA prohibits new airlines to be based in Yangon Airport

The Department of Civil Aviation (DCA) has ruled out the plan of establishing a new airline to be based in Yangon, said Win Swe Tun, Deputy Director General of DCA. “We have eight airlines based in Yangon and have plenty of passenger planes in Yangon International Airport. The airport traffic will be congested if we […]