Myanmar strives for more reforms to boost tourism

Despite the decline in tourist arrivals last year, Myanmar aims to rebound its tourism growth by undertaking reforms to improve both domestic and international travels, says a tourism boss. Tint Thwin, director general at the Directorate of Hotels and Tourism, said in an interview the government now focuses on easing of some restrictions and creating […]

Firms asked to bid for aviation contracts

Subscribe to our tender alert mailing list Minister for Planning and Finance Kyaw Win says the government will give the green-light to entrepreneurs for the distribution of aviation fuel at airports, including Yangon International Airport. He said: “Aviation fuel is distributed at Yangon International Airport under a joint venture with Puma. Other firms can run […]

FDI companies can trade on YSX

When the new Myanmar Companies Act emerges, a system to allow companies with foreign investment to list on the Yangon Stock Exchange, will be established, said U Htay Chun, a member of Myanmar Securities Exchange Supervisory Commission to Myawady Daily newspaper, yesterday. “Foreigners are unauthorized to participate in stock trading on YSX under existing Myanmar […]

Real estate market remains cool, expert says

Interview on 9 June with U Khin Maung Than, chair of the Myanmar Real Estate Services Association by May Thet Hnin, a reporter for the Global New Light of Myanmar. Q: What is the current conditionof real estate market? A: First of all, let me give you a brief history of the real estate market […]

Foreign workers at Mon cement plant in hot water over registration

The Kyaikmaraw Immigration Department has charged five foreigners in the township with violating visa regulations after they failed to report 11 of their colleagues’ initial arrival to local immigration authorities. The five foreigners – four Chinese and one Thai citizen – are currently employed at Mawlamyine Cement Limited (MCL), a cement factory under construction in […]

Draft law on work permits for foreigners heads to attorney general

Foreigners working in Myanmar will soon need work permits, the labour ministry has announced, in a move that has been welcomed by businesses. The Ministry of Labour, Immigration and Population will submit a draft law to the attorney general later this month, deputy director general U Nyunt Win told The Myanmar Times yesterday. Though the […]

Foreigners can operate JV to trade in fertilizers, seeds, pesticides and hospital equipment

Foreigners have traditionally been restricted to doing service business and cannot be involved in trading. However the Ministry of Commerce has relaxed this requirements in the interest of the country as there is a critical need for expertise in the following areas: fertilizers insemination seeds pesticides hospital equipment Foreigners can trade in the above items […]

Property website calls for foreign condo ownership

The draft of the condominium bill should keep the foreigners’ rights to buy condominium flats with some restrictions, according to house.com.mm. The real estate website was responding to concerns that allowing foreigners to buy condominiums would lead to soaring prices. The bill has been in the drafting stage for more than a year and has […]

Myeik tourism hits 17-year high

Snorkelling resorts in the Myeik Archipelago attracted around 2,000 foreign visitors in the first four months of this year, according to the Directorate of Hotels and Tourism (Myeik Branch). Last year, tourism revenue in the area hit a 17-year high, Ks 57.99 million (US$57,991). Entry fees to Kawthoung District and Myeik District are $50 and […]

Developers hope Condo Law brings life back to market

Developers are pinning their hopes on completed Condominium Law this year to jumpstart the quiet property market. Foreigners are currently barred from buying condo units, though a draft of the law has said foreigners would be able to purchase units on the sixth floor or above, up to a maximum of 40 percent of the […]