A crackdown is coming to foreign investment circumventing rules by registering under the names of Myanmar citizens, according to Myanmar Investment Commission (MIC) secretary U Aung Naing Oo. The commission first announced in early 2012 there would be a grace period for foreign investment to re-register properly and promised future action against offenders which did […]
Smaller foreign companies face restrictions on leases
November 5, 2014 by
Smaller-scale foreign businesspeople are having difficulty securing long-term leases, which is hampering foreign investment, businesspeople say. Foreign businesspeople investing large amounts in sectors like manufacturing usually apply for permits through the Myanmar Investment Commission and can receive leases lasting up to 50 years, with the possibility of extensions. Investment that does not require MIC approval […]
New auto restrictions may have little impact on quality of imports
November 12, 2013 by
With traffic congestion in Yangon bad and road accidents even worse, experts and customs officials are worried that new rules aimed at deterring importers from bringing in old and potentially unsafe vehicles will do little to resolve the situation. Ministry of Commerce spokesman U Min Min told The Myanmar Times that beginning next year, the […]
Foreign ownership scheduled in Condo Law
November 12, 2013 by
Foreigners will be eligible to own apartments on the 6th floor or above of condominiums, according to an official draft of the Condominium Law published on November 10 in The New Light of Myanmar. The full text of the draft law also specifies foreigners will be able to buy up a maximum of 40 percent […]
My Business: Running a newspaper in Myanmar
September 5, 2013 by
What makes an entrepreneur? The BBC’s Ko Ko Aung spoke to Thaung Su Nyein about his experience running a media business in an environment where access to information has historically been restricted. When Thaung Su Nyein started media company Information Matrix in 2002, he only had initial capital of $5,000 (£3,200; 3,800 euros) pulled together […]
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