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Telenor Tops Taxpayer List in Myanmar

Yangon – Telenor Myanmar stands as the largest taxpayer among all foreign companies operating in Myanmar, contributing to both the commercial tax and corporate income tax sectors for 2018 tax assessment year, according to an announcement from Myanmar’s internal revenue department last week. The announcement stated that Telenor Myanmar ranks first on the international companies […]

What to expect from Myanmar’s top five export sectors

Even though Myanmar managed to bring down its trade deficit by US$500 million to $1.3 billion during the period between April 1 and September 30 from the same period last year, the volatile exchange rate and rising oil prices may well continue to drive up import costs in the coming months. U Yan Naing Tun, […]

Energy Ministry Negotiates to Lower Fuel Oil Prices

The Ministry of Electricity and Energy is negotiating with suppliers to bring down fuel oil prices, said managing director of the ministry U Thant Sin. U Thant Sin, who is also the vice-chairman of the government supervisory committee on petroleum and petroleum product business activities, said during a monthly press conference on Thursday in Naypyitaw […]

Myanmar remains worst place in ASEAN for doing business, World Bank ranking shows

Myanmar has failed to improve its ease of doing business ranking for the third consecutive year, with the latest figures from the World Bank showing that the country remains the worst place in ASEAN to conduct business. The newly-released 2019 Doing Business rankings by the World Bank showed that Myanmar ranks 171th out of 190 […]

Growth in mining industry expected as investments rise

Myanmar’s mining industry is expected to expand in next year on the back of higher foreign and domestic investments. And as more permits for small-scale mining in the regions and states will be approved, mineral exports will also improve during the year, U Than Soe, deputy permanent secretary of the Ministry of Natural Resources and […]

Japanese investors eye retail sector investments in Myanmar

Wholesalers and retailers from Japan, Thailand and South Korea met with the Ministry of Commerce (MOC) to discuss investments in the Myanmar retail sector, said U Yan Naing Tun, director general of the Department of Trade under MOC. Among the companies was Japanese retailer Aeon Co, which invested in the Myanmar retail sector under a […]

GDP expands to 7.4pc as more companies are cleared for business

Mandalay Region, Myanmar’s second largest city, has permitted the opening of 14 local and foreign businesses in the 2017-2018 fiscal year, said Dr Zaw Myint Maung, chair of the Mandalay Regional Investment Committee. Nine foreign companies will contribute foreign direct investments totaling $13.6 million, while the remaining six companies will contribute K23.1 billion in local […]

Relaunching Myitsone Hydropower dam could win investor confidence in Myanmar

Myanmar President U Win Myint on Thursday started a visit to Thailand, where he will attend the 8th Ayeyawady-Chao Phyra Mekong Economic Cooperation Strategy (ACMECS) Summit. The summit is intended to promote regional economic integration by narrowing the development gaps among the five member countries – Cambodia, Laos, Myanmar, Thailand and Vietnam. In 2015 when […]

Myanmar is new frontier for Japanese condo developer

YANGON — Japanese housing developer Tama Home will establish a condominium joint venture in Myanmar in a bid to attract rising ranks of higher-income buyers. Tama Home and local partner Kakehashi Real Estate Group will set up the new company, which will serve as the lead contractor on projects. Construction has started on a 541-sq.-meter […]

Myanmar’s Yoma to debut in baht

SINGAPORE, May 14 (IFR) – Yoma Strategic Holdings is poised to become the first company from Myanmar to sell bonds with a baht-denominated offering that underlines Thailand’s appeal as a regional funding hub. “Yoma will be the first Myanmar entity to tap the Thai bond market, and they will come before the sovereign, which is […]