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Myanmar woos foreign investors to ‘fast-growing’ Yangon

WITH MAJOR infrastructure and logistics initiatives being pushed, on top of being home to seven million people, foreign investors should not hesitate to invest in Yangon, officials told the Yangon Investment Forum 2019 on Friday. Thaung Tun, chairman of the Myanmar Investment Commission and Union minister for investment and foreign economic relations, said Myanmar’s commercial […]

FDI needed for undeveloped regions but no plans for tax incentives

Although more foreign direct investments (FDI) are needed for the undeveloped Regions and States, there are no plans to revise current tax relief scheme as yet, said U Thant Sin Maung, acting director general of the Directorate of Investment and Company Administration (DICA). U Thant Sin Maung was responding to requests for tax incentives from […]

Ex-Blackwater boss moves into Myanmar security

Frontier Services Group (FSG), founded by former US military contractor Erik Prince, says it is moving into Myanmar to provide security services to Chinese and other foreign investors. Blackwater, a now-defunct private military contractor founded by Mr Prince, was condemned internationally after its employees allegedly opened fire on a Baghdad street in 2007, killing at […]

Yangon’s equities exchange has only five trading stocks and very few investors, but that’s about to change

In a colonial building in Myanmar’s largest city, a large screen showed stock prices for a handful of companies. Four people, perhaps tourists, perhaps investors, shuffled around the floor. The clock struck 11. Suddenly the prices changed. Then, in an instant, all the people were gone. That was just another day at Asia’s tiniest bourse, […]

Deloitte Southeast Asia Announces New Leadership for Myanmar and Singapore

Deloitte Southeast Asia has announced that Aye Cho and Cheung Pui Yuen have been appointed as Country Managing Partners for the Myanmar and Singapore practices respectively. They have taken on their new roles starting on 1 January 2019. Aye Cho has succeeded Soe Win who retired from Deloitte Myanmar as its Country Managing Partner earlier […]

Vietnam’s Viettel seeks to double Myanmar customer base – CEO

Vietnam’s largest telecommunication company, Viettel, is seeking to double its five million subscribers in Myanmar by the end of the year, its president and chief executive officer Le Dang Dung told Reuters an in interview on Friday. Viettel, whose $1.22 billion unit Viettel Global Investment is trading on the Unlisted Public Company Market, has also […]

Employment rate may increase to six pc if the EU’s GSP right remains: DICA’s DG

Thanks to the EU’s Generalised scheme of preferences (GSP) right, Myanmar can create 0.6 per cent jobs. If the GSP right remains, the employment rate may increase to six per cent of the total population, said Aung Naing Oo, Director General of Directorate of Investment and Company Administration (DICA), at a talk titled “Democracy, Poverty […]

Reset capital market, allow foreign competition to unleash growth: leaders

Foreign investor interest in Myanmar appears to be waning at a time when the global economy is losing momentum, if recent data is anything go by. As such, a hard reset of the local capital market is needed to ensure the business environment remains friendly to existing firms and entrepreneurs, as their survival and growth […]

EU’s threat to scrap trade preferences spurs Myanmar’s reforms

Economic reform is getting a second wind in Myanmar as the government tries to lure back foreign investors scared away by reports of human rights abuses against the country’s Rohingya Muslim minority. The government has announced the easing of restrictions on foreign banks and the creation of a new ministry to oversee foreign investment in […]

Log exports to be permitted to lure timber plantations

The Forest Department under the Ministry of Natural Resources and Environmental Conservation has been planning to permit the export of logs harvested from private timber plantations, U Tin Tun, director of the Forest Department, told The Myanmar Times. To protect the environment and prevent deforestation, Myanmar in April 2014 banned the export of whole logs […]