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Taking a Quantum Leap to Revamp Myanmar’s Economy

YANGON—Since last year, Myanmar officials responsible for drumming up foreign investment have been shuttling between Naypyitaw and Asian countries to pitch the government’s latest legal, procedural, and institutional reforms to potential investors as part of efforts to revitalize the country’s economy. State Counselor Daw Aung San Suu Kyi often highlights foreign direct investment (FDI) as […]

Myanmar child rights law needs further reform, effective enforcement, says HRW

After years of discussion and debate, Myanmar has finally enacted a law to protect the rights of children. Consistent with the United Nations Convention on the Rights of the Child, which Myanmar has ratified, the law defines a child as anyone younger than 18 and provides all children born in Myanmar have the right to […]

‘US keen to invest, strengthen ties with Myanmar, but faster reform needed’

The lack of infrastructure, clearer rules on business and domestic politics continue to be issues weighing on investor sentiment towards Myanmar. US Ambassador to Myanmar Scot Marciel, who spoke at the American Chamber of Commerce Myanmar’s “Improving Ease of Doing Business Forum” yesterday, acknowledged that while the government has been implementing reforms and building infrastructure, […]

Reform of extractive state businesses delayed

The reform of Myanmar’s opaque and powerful state-owned enterprises (SOE) has been delayed for over a year due to sensitivity surrounding the industries. A public debate in Mandalay to reform Myanmar’s state-owned enterprises engaged in the extractive sectors was held under the work programme of Myanmar Extraction Industries Transparency Initiative (EITI), according to Department of […]

Fish farms face reform

The techniques used by fish farms will be modified to make them more market competitive, said Dr Toe Nandar Tin, treasurer of the Myanmar Fishery Products Processor and Exporters Association. “We used to breed fish with long life spans. But now we consider farming those with shorter lives. Sea bass and tilapia have rising market […]

Myanmar unveils plans to overhaul court system

YANGON: Myanmar on Wednesday (Dec 17) announced plans to reform its judicial system, a move met with scepticism by lawyers and activists long used to red tape and poor access to justice during the junta era. Courts across the country are to be modernised and committed to “integrity”, independence and the rule of law, according […]

Myanmar Can Double Rice Exports Through Policy Reforms: WB

Myanmar has the potential to more than double its rice exports by implementing policy reforms, a new World Bank report said. In a bid to increase rice exports, Myanmar has to diversify and increase its rice production, open its rice milling sector to direct foreign investments and reduce export procedure costs, thereby alleviating rural poverty, […]

Myanmar brushes off limited US sanctions renewal

YANGON: Myanmar on Friday shrugged off US President Barack Obama’s decision to renew some sanctions against the country in order to spur continued reform, in a move that highlighted fears over continued rights abuses. Obama said sanctions restricting certain investments should be renewed because the former military-run nation still poses “an unusual and extraordinary threat […]

Foreign and domestic investors play by same rules: DICA

Burma’s Directorate of Investment and Company Administration (DICA) plans to reform the country’s current investment laws to conform to regional norms, according to DICA director Aung Naing Oo. In light of the passage of a new Foreign Investment Law in 2012, Burma now has two separate laws to govern foreign and domestic enterprises, which is […]

Industry Awaits Myanmar’s Offshore Exploration Block Awards

Industry players are watching with interest an impending tender award by Myanmar’s Ministry of Energy for 30 offshore oil and gas exploration blocks, which has attracted bidding by several major international oil companies (IOC) that were absent in previous tenders. The outcome of the tender will highlight the progress, or lack of one, as the […]