Businesses in Myanmar face a myriad of challenges, one of which is the lack of skilled employees. That, in turn, is due to limited training and human resource (HR) functions in most firms. But while employers lament the shortage of talent, many are also reluctant to invest in staff development, saying too many employees end […]
International partnerships drive transparency among Myanmar companies
March 30, 2018 by
Good corporate governance is what attracts investors, such as International Financial Corporation (IFC), for companies, according to the findings revealed by the latest transparency report. The report also points to the very poor disclosure record and absence of corporate governance by companies which are registered at Directorate of Investment and Company Administration (DICA) as “public” […]
A New Harbinger of Good Governance – Myanmar’s Institute of Directors
March 28, 2018 by
This week marks the launch of an important market institution – the Myanmar Institute of Directors (MIoD), the first independent, private sector-led organization promoting best corporate governance standards and practices in the country. This is a significant step in Myanmar’s ongoing market reforms and sends a strong signal to the global business community the country’s […]
IFC to Help Myanmar Develop a Secured-Transactions Framework
November 24, 2016 by
IFC, a member of the World Bank Group, is helping Myanmar’s government to develop a secured-transactions framework that will allow businesses, especially micro, small, and medium enterprises (MSMEs), to access finance by offering movable assets as collateral, IFC said in a statement on 5 November. This will unlock significant financing for MSMEs, for whom lack […]
Post-Sanctions Myanmar the New Frontier for Global Business
October 14, 2016 by
YANGON/TOKYO — The end of long-standing U.S. sanctions on Myanmar companies linked to the former military government is cause for celebration in both countries, opening up a slew of previously off-limits business and investment opportunities. The U.S. Treasury Department lifted all financial sanctions on the Southeast Asian nation Friday after months of dogged appeals by […]
Companies face hefty fines for failing to file taxes: IRD’s Aung Myo Oo
May 9, 2014 by
The Internal Revenue Department (IRD) on Tuesday gave a stern warning that companies in Myanmar must file their taxes by June 30, otherwise they stand to face a heavy fine that could be up to 150 times the size of their actual tax bill. “Trying to dodge tax could be a risky task. If they […]
Philippines’ Microtel Corporation prepares to invest in Myanmar
October 23, 2013 by
Philippine-based Microtel Corporation is preparing to invest in hotels, real estate and educational services in Myanmar, according to Myanmar Investment Commission (MIC). Jose Mari del Rosario, Chairman of Microtel Development Corporation, visited the Directorate of Investment and Companies Administration (DICA) in Nay Pyi Taw to discuss the rules and regulations regarding their investment. The Microtel […]
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