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Myanmar enacts new insolvency legislation

Myanmar enacted a new insolvency law on March 25, a month after receiving Parliament approval. The new legislation will facilitate the government in managing and dealing with cases involving insolvency in Myanmar and is expected to strengthen the business environment and draw more foreign investors to the country, “We are working on linking the Insolvency […]

New insolvency legislation passed

Pyidaungsu Hluttaw on February 14 passed a new Insolvency Law to further strengthen the business environment and draw more foreign investors to the country. The new legislation will become effective after a notification is issued by the President of Myanmar. The new law replaces the Yangon Insolvency Act (1909) and the Myanmar Insolvency Act (1920). […]

New law in the works to help set up Myanmar credit market

The Ministry of Planning, Finance and Industry is drafting a Secured Transactions Law with assistance from the International Finance Corporation, U Htun Zaw, Deputy Director General of the Financial Regulatory Department, said. The aim of the legislation is to facilitate the establishing of a modern and formal credit market through which borrowers can take loans […]

The Role of Fake News in Politics, Stability and Elections

Legislation is being introduced across Southeast Asia to combat fake news in the name of preserving social harmony. In practice, however, it is too often used by long-sitting regimes as a tool to discredit political opponents ahead of critical events such as elections and referendums. As a result, democratic values like freedom of expression and […]

Trademark Law and Industrial Design Law enacted

Myanmar has enacted legislation to protect intellectual property (IP)in another step forward for businesses in the country. On January 30, the Trademark Law and Industrial Design Law were passed into legislation by the Pyidaungsu Hluttaw. However, both laws provide that they will be effective only after a notification is issued by the President of Myanmar. […]

Tariff Bill Expected to Create Export Exemptions

Manufacturing companies will be able to deduct taxes for material imports and manufacturing operations from their export tariffs if a bill to update the Tariff Law for 2015-16 fiscal year passes. The tax credit for exports is aimed at promoting value-added processes and the export production capacity, U Zay Ya Si Thu, deputy director of […]

Myanmar: the final frontier for business

It has been called the last frontier for business, but many New Zealanders are riding the tidal wave of development that has occurred in Myanmar since trade sanctions on the country were lifted in 2011. Wellingtonian Carl Allwood was one of the many Kiwis to move there in the wake of the boom. Allwood left […]

Rewrite of Companies Act still in process, ADB says

US law firm Baker & McKenzie joins process of amending century-old legislation seen as key to making it easier to do business in Myanmar The update of the century-old Burma Companies Act is still in process, more than a year after the Ministry of National Planning and Economic Development said the 1914 piece of legislation […]

Myanmar Airways slated to become Myanmar National Airways: Pending legislation

State-run Myanmar Airways is slated for rename as Myanmar National Airways upon the enactment of the new aviation legislation. Presently, the Myanmar Aviation Bill has been submitted and deliberated in the Lower House of Parliament after the approval of the Upper House. “The Bill has been approved by Upper House and now submitted to Lower […]

Big tobacco eyes Myanmar market

A smoky haze greets customers walking into any of Yangon’s tea shops as patrons light up hand-rolled cigarettes known locally as cheroots. Elsewhere in Myanmar’s main city, vendors sell cheap cigarettes smuggled from China to drivers stopped at traffic lights. The pavement is painted red with the spit of people chewing tobacco wrapped in betel […]