Central Bank urges government to reduce dollar use

The Central Bank is urging government organisations to only use kyat payments to reduce US dollar demand and prevent dollarisation of the economy. The Foreign Exchange Management Department of the Central Bank last week announced that the kyat only should be used in domestic payments at national, regional and state-level organisations. “Using foreign currencies in […]

Yangon: Bakers lands Grant Thornton’s Myanmar MP

Baker & McKenzie has hired Ola Nicolai Borge as partner from Grant Thornton Myanmar, where he was the managing partner. Borge has 15 years of experience in international tax as a tax and legal advisor, assisting clients on issues in relation to investments in Southeast Asia. Prior to joining Grant Thornton, he established and managed […]

Long delayed IP law undergoing legal review

: A law to regulate intellectual property – covering essential matters of copyright, design, trademarks and patents – could finally be passed later this year as the latest draft is now undergoing legal review before its submission to parliament. A strong IP law is considered vital to attracting foreign investors who might otherwise be concerned […]

Investors waiting to bid as Kyaukphyu SEZ masterplan gets underway

Would be investors in the Kyaukpyu Special Economic Zone in Rakhine State are awaiting invitations to tender, but no date has yet been set for the issuance of invitations as experts work on a master plan for the zone. A consortium of consulting firms selected to develop the master plan and manage the tender process […]

Myanmar gets new SEZ law

In an effort to draw more foreign interest in Myanmar’s future Special Economic Zones (SEZ), the state-run media last week announced the promulgation of a new SEZ law, superseding the relevant laws adopted by the former military regime in 2011. “The new law seems to decentralise decision-making to the SEZ committee, so that central government […]