Myanmar foreign investment drops as democracy transition inspires caution

Aug 12 Myanmar’s democratic transition instilled caution in investors, with foreign direct investment during the first four months of the government led by Aung San Suu Kyi dropping sharply from a year ago, government data show. Foreign companies invested $380 million from April to July, the first four months of Myanmar’s fiscal year, plummeting from […]

Yangon ports implement round-the-clock clearance

FROM last Thursday, customs clearance became available round the clock at all ports in Yangon, but it has come at a cost. It was announced last week that customs clearance for outbound and inbound shipments would be available 24 hours at all ports in Myanmar, including Yangon Port that is run by Myanmar Port Authority, […]

Myanmar expects entry of more US businesses

Representatives of US companies have become frequent guests at the Myanmar Federation of Chamber of Commerce and Industry these days as they explore business opportunities in the long-isolated country. The visits have gathered pace since the National League for Democracy (NLD) won the election and the power transition from military rule appeared to be going […]

Health professionals protest lease of public land for private hospital

Staff of the Ministry of Health, including professors and ‘black ribbon’ doctors have signed a petition calling for a complete halt to the long-term lease of a large plot owned by the ministry in front of the University of Nursing at the corner of Bogyoke Aung San and Pyay roads in downtown Yangon for a […]

Private hospital to be built on govt land

A large plot owned by the Ministry of Health in front of the University of Nursing at the corner of Bogyoke Aung San and Pyay roads in central Yangon has been leased for a private hospital, according to a source at the Myanmar Investment Commission. It is reported that the monthly land rental is Ks181 […]

Myanmar’s formerly blacklisted businessman urges U.S. to delist others

(Reuters) – The first Myanmar businessman to be removed from a U.S. blacklist since the country emerged from military rule said on Thursday that the United States should delist more people so they can partner with American companies to develop the economy. Win Aung and his two companies, Dagon International Ltd and Dagon Timber Ltd, […]

U.S. removes prominent Myanmar businessman U Win Aung from sanctions list

WASHINGTON – The United States removed a prominent businessman from its Myanmar sanctions list on Thursday, in spite of doubts about reforms in the Southeast Asian country. Win Aung, the head of Myanmar’s chamber of commerce whose Dagon International construction firm won contracts to help build the country’s nine-year-old capital of Naypyitaw, was removed from […]

New investment law unlikely to be enacted this year

Parties involved in the drafting of the new investment law are willing to thoroughly review legal content, even though the process may delay the enactment to next year. Until March 26, the opinions of civil society organisations, local and foreign investors are being sought for the consolidation of two investment laws – Myanmar Citizens Investment […]

MGW’s Win Aung missing from top tax-payers list

Win Aung, managing director of MGW Construction, has been granted permission to construct eight high-rise commercial buildings in main business areas in Yangon such as Mayangon, Yankin and Bahan townships, making him one of the most prolific businessmen in Myanmar this year. MGW won permission to build the highest building in Yangon – Diamond Inya […]

Canada considers preferential tariff system for Myanmar

The Canadian government has considered drawing up a preferential tariff system for Myanmar, Canada’s Minister for International Trade Edward Fast revealed last week. Mr Fast met with Win Aung, chairperson of the Union of Myanmar Federation of Chamber of Commerce and Industry, at the Grand Amara Hotel in Nay Pyi Taw on August 27. He […]