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Green light given for Thai-backed industrial estate near Yangon

The Myanmar Investment Commission (MIC) has approved Thai developer Amata Group’s proposal to develop a smart industrial estate project in Yangon Region. Amata Group is a Thai-listed developer headquartered in Bangkok known for its work on industrial estates. A meeting of the Myanmar Investment Commission on October 21 approved the development and operation of the […]

Government to support internationally recognized gold market in Yangon

U Phyo Min Thein prom­ised that the govern­ment is committed to providing support for an inter­nationally recognized gold mar­ket in Yangon. “Our government is trying to implement a gold market in line with rules and regulations,” he said at the 17th Annual Meet­ing of Myanmar Gold Entre­preneurs Association, held at Times City (Jewelry Mall) on […]

National plan mooted for 2019-2020, gdp growth to hit 7pc

Parliament has approved the new National Plan law for fiscal 2019-20, which will be effective from October 1, 2019 to September 30, 2020. The National Plan is expected to help Myanmar’s GDP grow by 7 percent to K95.4 billion during the period compared to 6.8pc in fiscal 2018-19. Contributing to economic growth is the financial […]

Myanmar fruit and veg women’s rep travels to the US for economic forum

This week, Sandar Myo, representing the Myanmar Fruit, Flower & Vegetable Producer & Exporter Association (MFVP), joins a group of women – and one man – from 18 countries traveling to the United States as part of the Women’s Global Development and Prosperity (W-GDP) Initiative established by the White House. “The Myanmar economy is based […]

Moon presents S. Korea-Myanmar partnership vision at Yangon business forum

On a visit to Myanmar’s largest city, South Korean President Moon Jae-in laid out his vision Wednesday for closer partnerships between the two nations, with a focus on revving up cooperation on infrastructure and culture as well as promoting people-to-people exchanges. He was addressing a business forum in Yangon, the economic hub of the Southeast […]

Tax amnesty proposed, prompting renewed debate

The chorus of voices defending and opposing the reduction of tax rates for undisclosed income has come to the fore again following the submission of the Union Tax Bill 2019 to the Pyidaungsu Hluttaw earlier this month. The proposed tax reduction rate, or tax amnesty, could see tax rates revised to 3 percent for income […]

MBEI: Measuring Myanmar’s business landscape with data for policymakers

Myanmar’s first business environment index, surveying nearly 5000 companies, reflects how the private sector views governance, transparency and efficiency as implemented by central and local government. The findings provide policymakers with a set of data for making evidence-based decisions. The Asia Foundation has published the first Business Environment Index (MBEI) for Myanmar, with the support […]

Myanmar strategic annual revenue jumps after exera buy but loss widens

Myanmar Strategic Holdings Ltd on Tuesday said its revenue multiplied in its most recently ended financial year, but loss widened amid higher costs. The guarding, protective, transportation, and training services provider said its loss widened in the year to the end of March to USD2.6 million from USD2.1 million reported a year prior, due to […]

Solar power shines in Myanmar

Myanmar’s launch of its first commercial solar plant last month is a step in the right direction for a country that has yet to provide more than half of its citizens with proper access to electricity. Constructed on over 836 acres of land, an area equivalent to almost 530 football fields, the Minbu Solar Power […]

Myanmar’s $400m stock market to open to foreigners

Myanmar will allow direct foreign ownership of shares at the Yangon Stock Exchange (YSX), a move designed to throw a lifeline to the country’s only bourse. In a notice on Friday, the regulator, the Securities and Exchange Commission of Myanmar, said foreign individuals and locally-registered entities would be allowed to invest in listed shares of […]