Foreign insurance companies will be allowed to do business this fiscal year

According to deputy minister for Finance and Planning Maung Maung Win, the government is planning to allow foreign insurance companies to do business this fiscal year. Currently, only three Japanese companies are allowed to do business in Thilawa Special Economic Zone and the Ministry of Finance and Planning is preparing for the implementation of nationwide […]

Myanmar designates 20 fields to promote investment

Myanmar’s efforts to promote investment will target 20 newly designated fields covering 192 types of businesses and services, using a law enacted in October that makes it easier for foreign companies to receive tax benefits. The industries covered include manufacturing, agriculture, urban development, communications and medicine, while fields such as mining and finance did not […]

Myanmar braces for 30% drop in foreign investment

Foreign investment in Myanmar appears poised to plunge roughly 30% for the year ending March 31 amid the absence of new oil and gas projects, highlighting the need for the government to lure other industries with deregulation and firm economic policy plans. Myanmar received about $6 billion in foreign direct investment during the 11 months […]

US to lend expertise in shrimp breeding techniques to local producers

Myanmar will collaborate with the U.S. to boost white shrimp production, aiming to penetrate the global market, Dr Sein Maung from the Myanmar Shrimp Association. The U.S. will share not only breeding techniques but systems covering biosecurity, pond management and hygiene as well as conservation of the natural environment, said Dr Jim Wybam, chairman of […]

Myanmar’s FDI rush recedes

Myanmar’s economy looked like it was enjoying a brisk tailwind after progress in democratization led the U.S. to lift its sanctions last year, but the boost appears to be waning. The government that took office in March 2016, with pro-democracy icon Aung San Suu Kyi as its de facto leader, has so far proposed few […]

Foreign Travelers keen on Going to Chin and Shan States

​​ YANGON – Foreign visitors are keen on going to Chin and Shan states rather than other regions such as Bagan, Taunggyi, Inle and Mandalay, which were previously the more popular tourist destinations, says Phyo Wai Yazar from All Asia Exclusive Travel @ Tour Co Ltd. During December, the number of tourist arrivals in hilly […]

The Key to Jumpstarting Myanmar’s Economy: Electricity

It’s no secret that the National League for Democracy (NLD) faces myriad challenges in improving Myanmar’s socioeconomic situation. In fact, its biggest challenge might be deciding which issues to address first. Led by Nobel Laureate Aung San Suu Kyi, the NLD has made the peace process, which is aimed at ending decades of strife between the […]

Kirin adding Ichiban beer to store shelves in Myanmar

TOKYO — Kirin Holdings will sell its signature beer Ichiban to Myanmar consumers starting this month. The Japanese company has offered Ichiban as draft beer in upscale restaurants in the country, but will now target households directly by selling retail versions. Kirin will produce canned and bottled Ichiban with Myanmar Brewery, the country’s market leader, which it […]

Local banks fret foreign rivals

Domestic banks fear that international lenders opening branch offices in Myanmar will pursue an aggressive strategy and poach the best local clients, but commentators believe this is unlikely to happen, for now. Between April and September, nine global banks will open branch offices in Yangon, becoming the first foreign institutions to undertake active commercial operations […]

‘Romantic North’ reserves vital to domestic energy supply

Oil consumption in Myanmar is likely to double by 2025, meaning that new discoveries are essential to meet energy demand for the future without relying too heavily on imports. But some fear the dream of finding large proven reserves may not be realised. The likelihood of finding commercially viable reserves in recently awarded onshore and […]