Asean’s last frontier outbound market to bloom?

WE have it on good authority that Myanmar’s Ministry of Hotels and Tourism is stepping up its enforcement of the outbound travel sector by making it compulsory for travel companies in the country to apply for licences to offer overseas trips for Myanmar nationals. In general, tour companies have been offering air tickets, hotels and […]

Scramble behind the scenes as Yangon Stock Exchange nears launch

Just a week before Myanmar’s first modern stock exchange is set to open on December 9, a much-delayed announcement on the names of securities companies has not yet been made, underwriters have not received licences and domestic IPOs seem a distant dream. Ten companies have been offered conditional underwriting licences for the Yangon Stock Exchange, […]

Stock licences to be issued this month

Licences will be issued this month to the securities companies which will trade on Myanmar’s first-ever capital market named “Yangon Stock Exchange”, according to the finance ministry. “Myanma Economics Bank (MEB) has already signed a memorandum of understanding with the Japanese companies. The issuance of licences to companies will be done by the Security Exchange […]

Myanmar to open stock market in Oct

YANGON — Myanmar will open its first-ever stock market later this year, the deputy finance minister said Saturday. “We are ready to start it on October,” Maung Maung Thein said. He also said that stock exchange licences will be issued to companies soon. “The Securities Exchange Commission will issue licences to the stock companies. It […]

10 firms compete for IT licences

Since the enactment of the recent telecommunication bylaws, more than 10 local and foreign IT companies have applied for licences to construct towers, lay cables and provide other services, according to the Ministry of Communications and Information Technology. The directorate of telecommunications enacted the bylaws on October 14. “More than 10 companies have applied for […]

Tourism sector sees a peak

Foreign investment in tourism sector recorded over US$2 billion with 31 companies granted licences to construct hotels across the country mostly in Yangon, Mandalay, Bagan, Kawthoung, Techilek and Myeik, according to Ministry of Hotel And Tourism. Yangon has two-thirds of the number and followed by Mandalay and other minor tour destinations. Foreign investment comes directly […]

Taxi registration to continue, YCDC insists

Yangon City Development Committee has denied reports that it plans to scrap the city taxi registration scheme, saying responsibility for registration will instead be transferred to another association. ”We will not do the city taxi registration in the future but it does not mean there is no need to do the city taxi registration,” U […]

Central bank says it is still on track to grant licences to foreign banks this month

Between five and 10 licences will be granted to foreign banks to operate in Myanmar by the end of this month, Dr Set Aung, deputy governor of Central Bank of Myanmar, said on September 14, denying speculation that the bank was delaying the announcement. “We said before that the announcement will be made in the […]

Ministry aim to cut red tape for export, import licences

The Ministry of Commerce is reviewing its policies on granting export and import licences in order to cut red tape, it said earlier this week. Exporters and importers have complained that the process is unnecessarily cumbersome and time-consuming. The World Bank’s Doing Business Report 2014 ranked Myanmar near the bottom of its index, at 182 […]