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Companies in Myanmar embrace remote working in precautionary move

Businesses in Myanmar’s commercial capital have begun to ask employees to work from home in order to reduce the risks of virus infections. Several companies and banks in Yangon have started to telecommute its employees in the face of the novel coronavirus. Corporate executives have said that some telecom operators and banks have started testing […]

Companies still owe gold to Myanmar govt for mining concessions: official

Small-scale gold miners owe the government some 13,300 ticals in ore, a senior government official revealed to the Pyidaungsu Hluttaw (Assembly of the Union) last Friday. Deputy Minister for Natural Resources and Environmental Conservation U Ye Myint Swe said the arrears in payments for concessions granted to small-scale miners are from 2007 to the present. […]

Extractive businesses asked to disclose ownership information

Companies and state-owned enterprises (SOEs) involved in Myanmar’s oil and gas production and transportation, mineral and gemstone industries are required from January 1 onwards to publicly disclose information on beneficial ownership and politically exposed persons. This is in accordance with Notification No.104/2019 dated October 2019 and in line with Requirement 2.5 of the Extractive Industries […]

Three more companies expected to list on YSX next year

Three more companies are likely to get listed on the Yangon Stock Exchange (YSX) in 2020, according to the Securities and Exchange Commission of Myanmar (SECM). “The companies will be listed on the exchange in early 2020. They must file a prospectus with the SECM to receive approval for offering shares. The listing process takes […]

Thilawa SEZ set to benefit from east west economic corridor

The Thilawa Special Economic Zone near Yangon is set to become a vital link in the East West Economic Corridor linking Myanmar, Thailand, Laos, Cambodia and Vietnam says an official from the Japan International Cooperation Agency (JICA). The East West Economic Corridor development project aims to link transportation and logistics networks to promote investment and […]

Influx of Japanese car parts companies expected in Yangon

More Japanese car parts companies are expected to enter Myanmar to meet demand from existing automobile manufacturers with facilities in Thilawa Special Economic Zone, said Japanese Ambassador to Myanmar Mr Ichiro Maruyama. Japanese car maker Suzuki currently operates a car assembly plant in Thilawa, while Toyota will begin operations at the SEZ in 2021, Mr […]

YSX traded stocks in 2019 reaches highest in August

The value of stocks traded on the Yangon Stock Exchange (YSX) hit the highest level of US$1.9 billion this year in August, according to the monthly report of the YSX. A total of 322,176 shares were traded on the exchange during the month. At present, shares of five listed companies — First Myanmar Investment (FMI), […]

Myanmar aims urban planning for over 330 towns by 2030: Union Minister

Myanmar is aiming to have systematic urban planning for over 330 towns across the country by 2030, said Han Zaw, Union Minister for Construction on February 10. “The objectives of the ministry are to build 18 feet wide and 41,111 kilometers long concrete and tar roads to meet ASEAN standards, to build all concrete bridges […]

MI signs MoU with foreign insurance companies for housing projects

Myanmar Insurance (MI) signed a Memorandum of Understanding (MoU) with Japan, Germany and Malaysia to cooperate on insurance services for the construction of one million housing units to be developed by the Ministry of Construction, at Myanmar Insurance on August 28. Dr Sandar Oo, Managing Director of Myanmar Insurance said: “The country needs to develop […]

FDI in Thilawa SEZ project declines by $ 18.5 m

From April to August of the mini budget period, the foreign investments in Thilawa Special Economic Zone Project has dropped by US$ 18.5 million compared with the same period last year, according to a press conference by Myanmar Investment Commission on August 29. Than Aung Kyaw, Deputy Director of Directorate of Investment and Companies Administration […]