US terminated remaining sanctions against Myanmar on 7 Oct 2016

On 7th October 2016 – President Obama signed the Executive Order to terminate the remaining economic and financial sanctions against Myanmar that make it very difficult for US banks, financial institutions and companies to do business with Myanmar. That means the following group of people and entities have been removed from the US Sanction List […]

Complete List of 204 entities and individuals removed from the US Sanction List for Burma

The following deletions have been made to OFAC’s SDN List for Burma as of 7/10/2016:   STATE PEACE AND DEVELOPMENT COUNCIL OF BURMA [BURMA].   SHWE, Than; DOB 02 Feb 1935; alt. DOB 02 Feb 1933; nationality Burma; citizen Burma; Senior General, Minister of Defense and Commander-in-Chief of Defense Services; Chairman, State Peace and Development […]

Time to re-look your investment plan in Myanmar as Obama pledges to lift all remaining sanctions against Myanmar

President Obama this morning pledge that the US will lift all remaining sanction s against Myanmar after meeting Daw Aung San Suu Kyi at the Oval Office.   Currently the last remaining Myanmar tycoons on the SDN List are Steven Law of the Asia World Group U Zaw Zaw of the Max Myanmar Group U […]

Max Myanmar’s Zaw Zaw: ‘I am ready to play any Part’

Zaw Zaw is the chairman of Max Myanmar Group of Companies, one of Burma’s biggest conglomerates, with interests in the country’s construction, hotel, real estate and agricultural sectors. He also intends to expand his banking business under the new National League for Democracy (NLD) government, but remains on a US blacklist, preventing American companies from […]

YCDC orders 4 companies to halt construction in Myakyuntha Park

The Yangon City Development Committee (YCDC) has instructed four companies to stop their construction in Myakyuntha Park in Yangon, according to a committee member. The notification came after YCDC’s inspection team discovered that the buildings under construction were violating the terms of the companies’ licences. The YCDC team inspected the construction sites in the park […]

Military-linked tycoons claim political middle ground

Despite decades of benefiting from connections within the military and ruling Union Solidarity and Development Party (USDP), many of Myanmar’s leading conglomerates have claimed to be politically neutral.   Spokespeople for some of the country’s most successful companies including Asia World, Htoo Group, Kanbawza (KBZ) Group and Max Myanmar said as private businesses they had […]

Crony companies get 60-year lease of Myakyunthar Park without MIC approval

Yangon—The lease of Myakyunthar Park to eight private companies has been allowed, even without the approval of the Myanmar Investment Commission (MIC), according to a report submitted by the Auditor General of Yangon Region at a special meeting of the regional parliament on November 30. The Yangon City Development Committee (YCDC) leased a land plot […]

Rangoon Govt Invites Private Investment in Public Bus Company

RANGOON — The Rangoon Division government on Monday launched an initiative to set up a US$25 million public bus service company that would improve major bus lines in Rangoon, Burma’s biggest city. On Tuesday, an official said they had already received pledges for more than half of $15 million in private funding shares required for […]

Debate rages on Yangon waterfront’s future

The port facilities ringing Strand Road on the Yangon River are being upgraded even as some experts are calling for increased public use of Yangon’s waterfront. Myanma Port Authority is overseeing the construction of 10 new jetties by a range of companies, all of which are slated to open this year. Plans include constructing more […]

Secretary of State beds down with blacklisted businessman

US Secretary of State John Kerry touted the significance of what remains of his country’s sanctions regime against Myanmar on Sunday, describing it as a sign that Washington is keen to avoid rushing its engagement with Nay Pyi Taw. But the strength of his message, which talked up the importance of targeted sanctions, was tempered […]