New Investment Law Hailed as ‘Essential’ to Development

Business leaders have welcomed the approval of a new investment law that they hope will cut red tape and bring an end to concerns that foreign and local businesses are being treated differently. The Upper House approved the Myanmar Investment Law without amendments last week, and the legislation is due to come into effect in […]

The Key to Jumpstarting Myanmar’s Economy: Electricity

It’s no secret that the National League for Democracy (NLD) faces myriad challenges in improving Myanmar’s socioeconomic situation. In fact, its biggest challenge might be deciding which issues to address first. Led by Nobel Laureate Aung San Suu Kyi, the NLD has made the peace process, which is aimed at ending decades of strife between the […]

Yangon’s mega traffic jams

The biggest problem in Yangon today is the mega traffic jams the whole commercial city is facing almost every day. Except on the Myanmar New Year Day (on which only the famous pagodas are crowded with a very large number of Buddhist pilgrims) and one or two days afterwards, Yangon streets have become driver-friendly and […]

Golden Glory plans IPO to fund Myanmar projects

YANGON • Golden Glory Group, a developer of Myanmar real estate, is planning an initial public offering (IPO) in Singapore this year as the opening of the market spurs property demand in South-east Asia’s fastest-growing economy. The Singapore-based company is targeting an US$80 million to US$100 million (S$110 million to S$138 million) initial share sale, […]

Myanmar admits more foreign banks ahead of NLD accession

BANGKOK — Myanmar has given preliminary operating licenses to four more foreign banks, following the government’s decision in late 2014 to grant licenses to an initial nine foreign banks. The move — just before a new administration led by Aung San Suu Kyi takes over on April 1 — highlights a rush by the incumbent […]

Rubber industry to be stamped with new law

A new law is being drafted to promote Myanmar’s rubber sector, as the commodity’s international value plummets and a number of plantations across the country are forced out of business. The law is being drawn up under Myanmar’s National Export Strategy, said U Khine Myint, secretary of the Myanmar Rubber Planting and Producing Association (MRPPA). […]

Government plans longer tenors for debt auctions

The Ministry of Finance is planning to extend competitive bidding auctions on government debt to a range of new maturities this year, which will mean getting comfortable with paying market price. The government switched from selling three-month Treasury bills at a set yield to one determined by competitive auction a year ago, and is still […]

IMF ends Article IV consultation meetings

The IMF ended, on 1 July, their Article IV consultation visit to Myanmar releasing information regarding Myanmar’s macroeconomic state, calling for tighter fiscal and monetary policies, and stricter tax collecting policies with less incentives. The report said that in order to restrict inflation Myanmar must enforce tighter fiscal and monetary policies through, “vigorous enforcement of […]

President’s Office steps in with forex role

Bankers, economists and traders are growing increasingly concerned that the Central Bank’s policy is moving away from the managed floating exchange rate, which was established in 2012 with the help of the International Monetary Fund (IMF). It ended 35 years of a dual rate system, in which the official rate of around K6 to the […]

Myanmar lures Asian firms

One in four Asian enterprises plan to enter Myanmar this year, making Asia’s newest emerging market one of the top investment destinations in the region, according to a survey by United Overseas Bank. Myanmar appears poised to become the beneficiary of an uptick in inbound investment and M&A activity as fears of the government backsliding […]