Report says Yangon among best places to do business in Myanmar

Yangon, Sagaing, Bago and Nay Pyi Taw have emerged as the best environments in which to do business in Myanmar, according to the Myanmar Business Environment Index 2020 (MBEI). The Asia Foundation released the MBEI 2020 on December 11. This year’s report is the second after it was first launched in 2019. The MBEI is […]

Myanmar President Orders Mining Firms to Publish Contracts, Boosting Transparency

<a href=”https://youtu.be/pCvYiQYDHcE” target=”_blank”><img src=”https://consult-myanmar.com/wp-content/uploads/2013/10/doingbusinessinmyanmar-thumbnail2.jpg” width=”600″ height=”250″ /> </a> YANGON — Myanmar’s president has instructed the government, state-owned enterprises and private companies involved in the country’s extractive sector to publicly disclose any contracts from Jan. 1. The President’s Office stated that all parties must follow “contract transparency”, starting on New Year’s Day, in collaboration with Myanmar […]

Chinese companies investing in Myanmar have ‘a lot of work to do’ to convince public

Transparency must be improved and deep concerns addressed, says former presidential adviser Aung Tun Thet. A raft of infrastructure deals have just been signed, including for a strategically important deep-sea port project. Chinese companies need to improve transparency when they invest in Myanmar, a former presidential adviser in the Southeast Asian nation said, after the […]

Myanmar University Rector Forced to Retire Over Dodgy Contract

Mandalay – The Ministry of Education says it will force the rector of Mandalay University to retire amid allegations over a food court construction on the campus. The rector failed to follow the President’s Office’s orders to be transparent in the tender process, the ministry said. Mandalay University Students Union protests led to a probe […]

More transparency needed for China deals, Myanmar officials say

With Chinese investments in Myanmar expected to rise, more should be done to ensure transparent and responsible business practices between Chinese companies and the Myanmar government, industry watchers said. Chinese investments historically dominated Myanmar’s foreign direct investment landscape. Some projects are government-to-government initiatives while others were won through tenders. Observers say Myanmar should diversify its […]

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, […]