China, Myanmar Agree 15-Point MoU on Economic Corridor

YANGON — Chinese and Myanmar officials agreed a 15-point Memorandum of Understanding (MoU) on building a China-Myanmar Economic Corridor, part of China’s One Belt One Road Initiative, said U Min Zaw Oo, the director of the Directorate of Investment and Company Administration (DICA). “The agreements have been reached. The 15-point MoU is ready,” U Min […]

Myanmar shouldn’t write off China without understanding her neighbour

An old Chinese proverb goes like this: “Three men make a tiger.” It means that if an unfounded premise is repeated many times, the premise will be accepted as the truth. Once this “tiger” is invented, it would be extremely difficult to dispel it from people’s minds, especially when we are living in a post-truth […]

Myanmar vows to promote responsible investment

Myanmar’s Investment Commission has vowed to be transparent, take proactive approach and promote responsible investment under the new management, Myanmar News Agency reported Saturday. New Chairman of the Myanmar Investment Commission U Thaung Tun, who is also minister at the Office of the Government, made the remarks at a meeting with four foreign chambers of […]

Myanmar not ready yet for auto boom

THOUGH MYANMAR has the potential for a boom in its automotive industry, it may take more than five years to enjoy tangible benefits in reality, according to Soe Tun, president of Myanmar Automobile Manufacturers and Distributors Association and managing director of Farmer Auto Trading Co. “It is not the right time for newcomers to enter […]

Yangon Govt Submits Plans for New Port, Industrial Zones

YANGON — The Yangon Region government is seeking approval for 11 new industrial zones on the city’s outskirts and a new multipurpose port terminal near the mouth of the Yangon River to promote regional development, create jobs and attract foreign investment. Yangon Region Chief Minister U Phyo Min Thein first revealed plans for the new […]

New retail directive well-received, but raises unanswered questions

Myanmar has taken pains to liberalise its economy and draw foreign investors to become more competitive. Over the past two years, it has rolled out major new legislation including the Condominium Law, Investment Law and Companies Law. This year, it released two new directives opening up the education and retail sectors to full foreign ownership, […]

Thai developer WHA eyes 20% revenue growth this year – CEO

[BANGKOK] WHA Corp, Thailand’s top industrial estate and warehouse developer, targets a 20 per cent revenue growth this year on higher government spending on infrastructure, foreign investment and a growing e-commerce market, its chief executive said on Wednesday. The company is also set to benefit from tax incentives that its customers receive on the Eastern […]

Property market to remain cool for now

Property market will continue to remain cool in the short run though it may become active beyond 2018, said Nay Min Thu, managing director of iMyanmarHouse.com, a local property website. “Dwindling property market may revive if there is a massive inflow of foreign investments into the market later in the year,” he added. There will […]

CB Bank successfully adapting to meet the needs of a new generation

Economic liberalisation came relatively late to Myanmar, but the country has been working hard to make up for its slow start. Following a military coup in 1962, the country was governed by an oppressive dictatorship and subsequently experienced the ignominy of being rated one of the least developed and most corrupt nations in the world. […]

Myanmar Investment Commission to open up education sector to private investment

Under MIC Notification 7/2018 dated 20th April 2018, the Commission announced that it may permit investor to carry out investments in the following types of education services in the form of private schools teaching a curriculum prescribed by the Ministry of Education and relevant Ministries or an international curriculum.   Private basic education school; Private […]