Three to seven year tax holiday period to be granted

TAX holidays will be granted for three to seven years, it has been learned. Authorities have been formulating a Myanmar Investment Law (Draft), which will grant tax exemptions to foreign direct investments excluding those made in Special Economic Zones (SEZs). The division of zones is based upon the development status of regions and states with […]

Chinese-led group to build Indian Ocean port, industrial park

Myanmar has chosen a consortium of mostly Chinese companies to develop a special economic zone sitting near plentiful offshore natural gas reserves. The Kyaukphyu zone, in the western state of Rakhine, already has an oil and gas pipeline connecting it to China, whose influence over southern neighbor Myanmar could grow as a result of the […]

Jardine Lloyd Thompson opens local office

Jardine Lloyd Thompson officially opened its Myanmar representative office on September 12, joining a growing list of international insurers with local offices. Foreign insurers are generally barred from working inside the country, with the exception of three firms which received licences to operate in special economic zones earlier this year. Authorities have said they will […]

Chinese giant works to win the people

Though the Kyaukphyu area is set for large-scale investments, it is in Rakhine State, which is also home to some of the country’s poorest communities. Kyaukphyu hopes to become a hub for the oil and gas industry and is to be home to one of Myanmar’s three Special Economic Zones – yet local residents risk […]

OCBC plans to up capital in 3 years

Opening its branch on Thursday, Singapore’s Oversea-Chinese Banking Corp (OCBC) sees the possibility that the branch’s capital would be raised within three years. On the first day of operations, over 10 accounts were opened. OCBC is the second to open a branch in the country, after the Bank of Tokyo-Mitsubishi UFJ which opened its door […]

Myanmar’s balancing act

Readers that are listening carefully will realise that, nowadays, most of the buzz behind Southeast Asian investment involves Myanmar. Many foreign companies are looking to put roots down in Myanmar and have been sending representatives there to scout out its business landscape. Despite the lucrative long-term potential for profit, foreign companies should be aware that […]

Myanmar’s Special Economic Zones: Jumpstarting an Economy in a Rut

Myanmar’s Special Economic Zone Law, enacted in 2014, states that the goal of developing special economic zones (SEZ) is to improve the socioeconomic status of the country and communities by providing job opportunities for locals – but many citizens remain doubtful they will see the supposed economic prosperity from the new SEZs. It is unsurprising […]

Mitsubishi Electric to Open Yangon Branch

Mitsubishi Electric Corp said its Singapore-based subsidiary, Mitsubishi Electric Asia Pte Ltd, will establish a branch office in Yangon. The Japanese electronics giant said the new office, which will start operations on April 25, will coordinate Mitsubishi Electric’s efforts to expand business in Myanmar by conducting market research, collecting information and providing support for infrastructure […]

Myanmar plans to invite foreign investments for railway sector

YANGON—The Ministry of Rail Transportation is now planning to invite foreign investment to carry out major projects for the railways sector, according to the Ministry. The plan, which represents a major shift for the railways sector during the incumbent government, will be implemented in the near future. “We are going to implement a railway transportation […]