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Maha Myat Muni Pagoda to charge foreigners K5000

Foreign visitors to Mandalay’s Maha Myat Muni Pagoda will be charged K5000 (US$3.25) each starting on July 1, according to the Myanmar Tourism Entrepreneurs Association. The pagoda, which has had free admission until now, will use the entrance fee for maintenance and conservation, the group said. It is one of Mandalay’s most popular tourist destinations, […]

Draft law for foreigner-only casinos in Myanmar: report

A bill that would authorise in principle the setting up of foreigner-only casinos in the Southeast Asia state of Myanmar was submitted to the lower house of the country’s legislature on Tuesday, the Myanmar Times newspaper reported on Wednesday. The Gambling Bill 2018 is said to include amendments to an existing statute, the Gambling Act […]

Is country ready for full foreign investment in education?

According to the Directorate of Investment and Company Administration, Singapore, New Zealand, and Australia are interested in investing in Myanmar’s education, with Singapore having conveyed the most willingness. The Myanmar Investment Commission (MIC) has allowed foreigners to make full capital investment in Myanmar, according to notification 7/2018 issued by the MIC on April 20. Thus, […]

Car park regulations are stunting the Yangon condo market: Colliers

While the passing of the Condominium Law and its related rules is positive for the condo market in Yangon, the city’s car park regulations are the biggest barriers to growth in the market, said Mr Tony Picon, founder and director of Colliers International Myanmar, during a recent seminar on the Condominium Law and Rules hosted […]

Mandalay approves investments exceeding K1.4 billion

The Mandalay Region Investment Committee has approved over K1.4 billion in investments since the Myanmar Investment Law was approved in October 2016, U Thike Htoon, assistant director at the Directorate of Investment and Company Administration (DICA), said on Monday. The investments were approved for the first time after the Myanmar Investment Commission (MIC) established Region […]

Why the construction sector is ailing and how it could recover

To help the construction and real estate sectors expand and stay profitable, government support in the form of tax and loan policy reforms is necessary, developers said. Currently, developers must pay taxes of up to 10 percent on the sale of condominium units priced between K100 million to K500 million. Meanwhile, buyers must pay a […]

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 […]