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Myanmar plans alternative market to jump-start stock exchange

Myanmar’s securities regulator and the Yangon Stock Exchange are planning to establish an alternative market where investors can trade shares of unlisted companies, the Nikkei Asian Review has learned. Dubbed the Myanmar Public Companies Board, the new market will be a steppingstone for companies to list on the fledgling Yangon Stock Exchange, according to a […]

Yangon trials digital construction permit system

Yangon City is introducing a new digitalised construction permit scheme in an effort to improve the ease of doing business. With the support of the International Finance Corporation, the Building Control Authority of the Yangon City Development Committee (YCDC) launched the Yangon Building Permit System on July 1 and it will be piloted until the […]

Bagan makes UNESCO list, but challenges remain

MANDALAY—After years of effort, Bagan, the archaeological zone and major tourist attraction in central Myanmar, was finally inscribed on UNESCO’s World Heritage List at the World Heritage Committee’s 43th session Saturday. Bagan, a major tourist attraction in central Myanmar, houses more than 3,000 pagodas and temples dating from the 9th to the 13th centuries. Despite […]

Mandalay, Nay Pyi Taw courts implement case management plan

Fifteen courts in Mandalay and Nay Pyi Taw are implementing a case management plan to try to restore the public’s faith in the judicial system. Part of the Union Supreme Court’s Judicial Strategic Plan for 2018-22, the three-part programme will carry out five action plans. A pilot project will be carried out in six townships […]

Cooperation, Lack of Accountability Biggest Challenges for Anti-Graft Body, Says Chairman

YANGON— Anti-Corruption Commission Chairman U Aung Kyi told the Union Parliament on Monday that an unwillingness to cooperate, as well as a lack of accountability and transparency, are the commission’s biggest challenges. “To effectively prevent internal corruption, it depends on the efforts of 200 heads of governmental departments and enterprises across the country,” he said, […]

Large Corporations Dominate ‘TiME’ Transparency Ranking

The private sector is leading the way in terms of corporate transparency and disclosure, according to the latest Transparency in Myanmar Enterprises (TiME) report by the Myanmar Center for Responsible Business (MCRB). In the 2019 report, known in Burmese as “Pwint Thit Sa”, seven of the country’s leading companies, including its largest retailer City Mart […]

Myanmar public companies trail behind private firms in corporate disclosure

Public companies in Myanmar – companies whose shares can be bought by the public – lag behind privately-owned firms in corporate disclosure and governance, according to the latest transparency report released on Tuesday. This is the fifth Pwint Thit Sa report (Transparency in Myanmar Enterprises) undertaken by Yangon-based Myanmar Centre for Responsible Business (MCRB) in […]

Myanmar works to improve corruption image

Myanmar has fallen further in a global corruption ranking but could improve its image following some high-profile arrests this year and as the government moves to strengthen the anti-graft agency. The Corruption Perceptions Index released by Transparency International ranked Myanmar 132 out of 180 territories in 2018, down two places from 2017. The Berlin-based global […]

‘Tone from the top’ crucial in anti-corruption: DICA

There is a lack of awareness about the transparency and corporate governance aspects of the new Companies Law, according to a senior government official, who argued for the importance of tone from the top in combating corruption. The Myanmar Centre for Responsible Business (MCRB) and the Union of Myanmar Federation of the Chamber of Commerce […]

Companies should clean up their acts to fend off corruption risks

Transparency International’s 2017 Corruption Perception Index ranks Myanmar at 130 out of 180 countries, showing that we have a long way to go in both corporate governance and uprooting graft. Nevertheless, over the last two years, Myanmar has advanced from a low base. The new Companies Laws (2017) and Rules (2018) revised the legislative framework, […]