Government backtracks on vehicle import policies

Bowing under pressure from dealers and sellers, the government has relaxed its new vehicle import policies for the coming year. The changes will come as a relief to importers, who had deemed policies announced in mid-December too strict, and had asked President U Thein Sein to consider an amendment. The unpopular regulations announced in December […]

Shwedagon High-Rise Developments to be Relocated Soon: MIC

RANGOON — The relocation of five cancelled developments planned near Rangoon’s Shwedagon Pagoda is likely to be finalized by the end of the year, according to the Myanmar Investment Commission (MIC). At a press conference on Wednesday, MIC secretary Aung Naing Oo reiterated earlier comments that developments would be relocated elsewhere in Rangoon to compensate […]

Commercial buildings to be constructed on military-owned land

Myanmar and Singapore companies are planning to construct commercial buildings on land owned by the Ministry of Defence in Yangon Region. Myanmar Investment Commission (MIC) granted permission on October 2 for Nature Link from Myanmar and Singapore-based Uni Global Power Pte. Ltd. to build under a Build, Operate, and Transfer (BOT) agreement in accord with […]

Major US Companies Slow to Report Myanmar Investments

More than two months after the United States published the first reports by American companies investing in Burma, big name brands such as Cisco, Coca-Cola, PepsiCo and Visa remain absent from the filings, which are posted on the website of the US Embassy in Burma. American companies putting US$500,000 or more into Burma or investing […]