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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 […]

New ministry, ‘single-window’ system to help investors do business

Myanmar is tuning up efforts to draw investments into the country. In Parliament Monday, the establishment of the new Ministry of Investment and Foreign Economic Relations was approved, paving the way for better coordination between related ministries and organisations on local and foreign investments and development projects implemented with foreign aid or loans. The newly […]

Hong Kong Firm Close to Finalizing New Yangon City Proposal

Hong Kong-listed China Communications Construction Co. Ltd (CCCC) has nearly finalized its proposal for the development of US$1.5 billion (2.4 trillion kyats) worth of initial infrastructure for the controversial “New Yangon City” project across the Yangon River from Myanmar’s commercial capital, according to a government body established to oversee the project. New Yangon Development Company […]

Myanmar’s poorest state beckons investors

CHIN state’s underdeveloped infrastructure presents great opportunities for domestic and foreign investors if they do their homework, says a report that looks into business prospects in Myanmar’s poorest region. Min Zaw Oo, director of Chin State at the Directorate of Investment and Company Administration, said investors should not hesitate to invest in Chin state where […]

Suu Kyi challenges investors to help Myanmar catch up with Singapore

Myanmar’s de facto leader Aung San Suu Kyi on Monday spoke of her hope for the country to catch up to Singapore’s stage of development within 20 years as she urged foreign investors to help her achieve that mission. Speaking at a business forum on the sidelines of the Asean summit here, Suu Kyi referred […]