Homebuyers Must be Transparent When Buying Property, Say Lawyers

Real estate lawyers have urged buyers and sell­ers to stop the practice of lowering the price of their properties on paper agreements to avoid pay­ing tax, saying it could damage the image of the industry. “Lowering prices on payment agreements to avoid tax could have far reaching consequences,” said U San Win Aung, Managing Director […]

Fiscal Year 2017-18: a New Dawn for Economic Policies

​​ The new fiscal year will start on April 1, which also marks the start of new laws and economic policies for Myanmar. The new Myanmar Investment Law, which was recently passed, will come into effect on April 1 and its implementation and enactment will spell changes for the country’s businesses and investors. A developing […]

Myanmar surpasses FDI target of $6 bn in fiscal year 2016-17

“We have approved 135 foreign businesses according to the Foreign Investment Law during this fiscal year,” he said this week. “Meanwhile, we have approved FDI inflows of $262.59 million in the Thilawa Special Economic Zone, according to our SEZ Law. In total, we could approve $6.87 billion [Bt240 billion] this year.” Aung Naing Oo is […]

Affordable Housing Still Unattainable for Many

​​ RANGOON — In an effort to build low cost and affordable housing across Burma, the Myanmar Construction Entrepreneurs Association (MCEA) and Singapore-based consultancy Surbana Jurong signed a memorandum of understanding (MOU) at Sule Shangri-La Hotel on Friday morning. Government-owned Surbana Jurong has played a role in urban development and public housing in Singapore. The […]

Myanmar’s reformist business tycoon leading economic evolution

Zaw Zaw, the chief of Max Myanmar group, a major conglomerate in Myanmar, has become the poster boy for the country’s uphill battle to outgrow its past and build a democratic society and a fully modernized economy. About half a year since the U.S. lifted economic sanctions against the Southeast Asian nation, which was under […]

Myanmar-Japan venture to farm eels for export

Myanmar is set to increase its exports of farmed eels to Japan, the world’s biggest consumer of the fish, under a joint venture between companies from the two countries. Under an agreement between Myanmar’s Anawa Devi Fishing & General Trading Co-op Ltd and Daiichi Koutsu Sangyo Co, a major Japanese taxi operator which has diversified […]

First Myanmar Investment First-Half Profit Jumps 52% on Year

​​ YANGON — First Myanmar Investment said Tuesday its net profit surged by 51.9%, year on year, to 6.2 billion kyat ($29.1 million) in the first fiscal half ended Sept. 30. Revenue at one of Myanmar’s largest public company jumped 49.4% on the year to 74.6 billion kyat. By sector, financial services contributed 67.4 billion kyat to […]

Singapore and China top in FDI

Singapore and China invested the most in Myanmar as of 31 October this fiscal year, according to the Directorate of Investment and Company Administration (DICA). Singapore stands at the top of the list with a foreign direct investment (FDI) of US$2,529.803million from April to the end of October this fiscal year, followed by China with […]

Finance Education in Myanmar: Demand Grows as Capital Market Develops

A student takes notes during a Bloomberg Terminal course at the Myanmar Institute of Business, August 2016/ Courtesy of the Myanmar Institute of Business) Traditionally, the small number of domestic investors in Myanmar have constructed investment portfolios primarily centered around cash, real-estate, commodities or currencies via position-trading. That’s beginning to change as Myanmar’s first stock […]

Yoma revs up property development drive in Myanmar

YANGON — Singapore-listed Yoma Strategic Holdings is accelerating its real estate development drive in Myanmar to meet growing local demand for residential units, offices and commercial facilities. Yoma’s move comes as Myanmar has emerged from decades of international isolation and now enjoys high economic growth, making the Southeast Asian country an increasingly promising property market. Yoma […]