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Chinese businesses moving into Bagan

Chinese nationals are starting businesses in Bagan, buying or renting hotels and restaurants, since early this year, according to local tourism and restaurant businesses. The proposal to list Bagan as a UNESCO World Heritage Site, which was submitted in 2018, could be one of the reasons for the interest, according to the businesses. Chinese nationals […]

Businesses call for policy changes to enable smoother operations

A February 22 meeting between the Private Sector Development Committee led by Vice President U Myint Swe and entrepreneurs from the Union of Myanmar Federation Chamber of Commerce and Industry (UMFCCI) saw the fisheries, steel-making, vehicle manufacturing and distribution and border trade promotion sectors call for policy changes to ease the challenges they face when […]

Long term economic improvement certain, strategy needed: U Win Aung

THE government has come under pressure for its handling of the Myanmar economy, with stakeholders lamenting the slowing pace of economic reform and investment flows. During the first half of 2018, approved foreign direct investments (FDI) totalled just $1.7 billion, compared to $4.1 billion during the same period in the previous fiscal year. Meanwhile, GDP […]

Trademark Law and Industrial Design Law enacted

Myanmar has enacted legislation to protect intellectual property (IP)in another step forward for businesses in the country. On January 30, the Trademark Law and Industrial Design Law were passed into legislation by the Pyidaungsu Hluttaw. However, both laws provide that they will be effective only after a notification is issued by the President of Myanmar. […]

Bridge project stirs property prices in Dala

Property prices in Dala Township are rising after construction of a bridge linking Dala to downtown Yangon was finally given the green light on December 24, 2018 after six years of deliberation. Expected to be completed in three and a half years, the US$138 million South Korea-Myanmar Friendship Bridge, will connect Phone Gyi Street, in […]

Businesses “wait and see” as govt plans for GAD transfer

The business community will “wait and see” if the transfer of the General Administration Department (GAD) to civilian control improves the bureaucracy and regulatory environment for those doing business outside major cities. The President Office last week announced that the GAD under the military-controlled Ministry of Home Affairs is set to be shifted to the […]

Business confidence in Myanmar sinks as scepticism mounts

More European businesses say they have lost confidence in Myanmar due to concerns about the National League for Democracy-led government’s management of the economy compared to the last two years, a new survey shows. According to the latest survey from the European Chamber of Commerce in Myanmar (EuroCham) published yesterday, a majority of firms (81 […]

‘Creating triple wins’: inclusive business in Myanmar

They can create new income opportunities for the poor by engaging them in the value chains of profitable businesses while paying better than market rates. They can also provide goods and services to the poor that address key needs in areas such as health, education, housing, finance, water and sanitation. Inclusive businesses are typically profitable […]

Yangon CM says region economy run by over 30,000 MSME businessmen

Yangon Region Chief Minister Phyo Min Thein said that there were over 30,000 businesses of Micro, Small, Medium Enterprises (MSMEs) registered as business entities in the Yangon Region and they run the region’s economy. “We compiled the list of these businesses by using digital technology. Over 30,000 businesses are registered in the region and our […]

Businesses call for lower taxes amid slowing economy

Myanmar businesses are urging the government to lower the country’s tax rates to alleviate pressure from the rising dollar exchange rate and slowdown in demand in recent months. According to the quarterly Business Sentiment Survey by the Union of Myanmar Federation Chamber of Commerce and Industry (UMFCCI) released last month, Myanmar’s high taxation rates are […]