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Union ministers come under fire for corruption

President U Win Myint has reportedly decided to replace Union Industry Minister U Khin Maung Cho for his involvement in a corruption scandal, Myanmar Times understands. This makes him the second minister to step down on counts of corruption. In May last year, U Kyaw Win relinquished his position as finance minister in the midst […]

‘Tone from the top’ crucial in anti-corruption: DICA

There is a lack of awareness about the transparency and corporate governance aspects of the new Companies Law, according to a senior government official, who argued for the importance of tone from the top in combating corruption. The Myanmar Centre for Responsible Business (MCRB) and the Union of Myanmar Federation of the Chamber of Commerce […]

Companies should clean up their acts to fend off corruption risks

Transparency International’s 2017 Corruption Perception Index ranks Myanmar at 130 out of 180 countries, showing that we have a long way to go in both corporate governance and uprooting graft. Nevertheless, over the last two years, Myanmar has advanced from a low base. The new Companies Laws (2017) and Rules (2018) revised the legislative framework, […]

Investment Agency Says Business Donations to Government Officials Violate Graft Code

YANGON — The Directorate of Investment and Company Administration (DICA) announced on Friday that companies and body corporates are not allowed to donate money either directly or indirectly to ministries or regional government departments, citing the Myanmar Companies Law 2017, to prevent corruption between government bodies and private companies. U Aung Naing Oo, director general […]