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Locals call for more regulation in retail sector

As foreign retailers enter the domestic market, the government should work to ensure a level playing field, said local retailers. During the Private Sector Development Committee meeting with President U Myint Swe on April 27, Daw Su Hlaing , Secretry of Myanmar Retailers Association, voiced concern for the survival of local retailers in the face […]

Private firm launches sport initiative in Myanmar amid surging demand

In respond to the surging demand for sports events in major cities, a group of young entrepreneurs have come together to establish a company named LA Sports and Entertainment Co to encourage the new blood in Myanmar’s sports scenario, according to Aung Ye Maung Maung, the firm’s managing director. He said in an exclusive interview […]

Myanmar’s second largest city to hold int’l trade fair, business forum

Myanmar’s second largest city of Mandalay in the central part will hold an international trade fair and business forum on March 23 to attract foreign entrepreneurs to invest and do business in the city, according to organizers Thursday. Scheduled to be held at the Mandalay City Hall, the three-day event is jointly organized by the […]

New ministry, ‘single-window’ system to help investors do business

Myanmar is tuning up efforts to draw investments into the country. In Parliament Monday, the establishment of the new Ministry of Investment and Foreign Economic Relations was approved, paving the way for better coordination between related ministries and organisations on local and foreign investments and development projects implemented with foreign aid or loans. The newly […]

Myanmar welcomes more investment from Hong Kong

A Myanmar Investment Promotion seminar was held on October 16 at Island Shangri-La, Hong Kong. The seminar was attended by Mr. Edward Yau, Secretary for Commerce and Economic Development and Officials of Hong Kong SAR Government, Members of legislative council, Members of Hong Kong Development Council and Hong Kong Productivity council and representatives of over […]

Laws to protect intellectual property, encourage business in the works

Businesses in Myanmar still rely on outdated colonial-era laws enacted by the British more than one hundred years ago to protect intellectual property (IP) rights. The encourage growth, draft laws are being formulated in the Hluttaw to update the country’s regulations covering IP rights, copy right law, industrial law, patents and trademarks for enactment. To […]

At a glance: Taxes in Myanmar

Attracting investments into its recently opened-up economy is a clear priority of Myanmar’s tax regime, with a slew of tax incentives for foreign investors. But that is tempered by a need to collect more tax revenues – less for the government to spend on developing public infrastructure creates roadblocks to Myanmar’s economic development too. Despite […]

Myanmar permits full foreign capital investments in education sector

The Myanmar Investment Commission (MIC) has permitted foreigners to make full capital investments in private schools in Myanmar, according to Notification 7/2018 issued by the MIC on April 20. This means foreigners will now be able to fully own and operate private schools teaching a curriculum prescribed by the Ministry of Education (MOE) or an […]

Mixed development project near Shwedagon Pagoda makes progress

Y Complex Company, a Japan-led consortium, yesterday held preliminary discussions to conduct the necessary environmental and social assessments required to commence development of a large-scale mixed-development project at the intersection of Shwedagon Pagoda Road and U Wisara Road in Yangon. The Y Complex Company is led by Japan’s Fujita Corporation, Tokyo Tatemono Co and Japan […]

Myingyan: Plugging Myanmar’s Power Gap

Sponsors of the $300 million 225MW gas-fired Myingyan IPP project in Myanmar have signed on a $250 million non-recourse DFI-backed loan. The deal is the unrated country’s debut in the internationally banked long-term project finance market and its first non-recourse financing in the power sector. The project was awarded under a 22-year BOT concession to […]