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 […]

All of Chin and Rakhine, Most of Kachin to Offer 7-Year Tax Breaks Under New Investment Rules

​​ The Myanmar In­vestment Commis­sion has released a list of townships that will be able to offer in­vestors special income tax exemptions under the new investment law, due to come into effect next month. The commission has di­vided the country’s town­ships into three categories from Zone 1, least devel­oped, to Zone 3, most de­veloped. Investors […]

KBZ Strengthens Remittance Services with US Banks

​​ After kicking off the US-Myanmar direct money transfer service, Kanbawza Bank (KBZ) has tried to establish a direct channel with US banks, KBZ managing director U Win Lwin told the media. Right now, KBZ has opened a USD settlement account in New York’s branch of Sumitomo Mitsui Banking Corporation (SMBC). Hence, direct money transfer […]

SEZ to Import Japanese Agriculture Machineries

​​ Agricultural machinery manufacturer Yanmar Myanmar Co Ltd in Thilawa Special Economic Zone (SEZ) will not establish production lines in Myanmar but will import and distribute those machineries, Takesi Terada, the firm’s managing director, told the Myanmar Times. Yanmar Myanmar, a joint venture between Yanmar and the Japanese corporation Mitsui, has established import and distribution […]

Myanmar Set to ‘Easily’ Reach $7bn in Foreign Investment This Fiscal Year

​​ Foreign investment has reached $5.78 billion for this fiscal year so far, meaning the country is all but guar­anteed to hit its target of attracting $6 billion of in­flows, and is very likely to exceed it. U Aung Naing Oo, Di­rector General of the Di­rectorate of Investment and Company Admin­istration, indicated last week that […]

Consultation on Investment Rules Highlights Land Issues

​​ A public consultation on the regulations that will accompany Myanmar’s new investment law threw the spotlight onto the country’s complicated land legislation once again. But although they acknowledge the barriers that land rules present to potential investors, officials in charge of the investment law regulations say there is little they can do. The Myanmar […]

The Magic Number Is 100 As Officials Release New Thresholds For Investment Projects

​​ Officials have re­leased the first tranche of rules and regulations for Myan­mar’s new investment law as they race have to have the finer details of the long-awaited legislation ready for the start of the next financial year. Under the rules released earlier this month, major projects including those worth more than $100 million will […]

Amendments to Myanmar Companies Act up for Parliamentary Discussion

​​ RANGOON — Suggested amendments to the Myanmar Companies Act have been written and submitted by the Ministry of National Planning and Finance to the government for discussion in upcoming Union Parliament sessions. The Myanmar Companies Act was established in 1914, when Burma was under British rule. The National Planning and Finance Ministry has, in […]

Myanmar Companies Act sent to parliament

The Myanmar Companies Act – a pivotal piece of legislation that will reform how companies are regulated and allow foreign investors onto the Yangon Stock Exchange – was submitted to the Pyithu Hluttaw at the start this month, according to Directorate of Investment and Company Administration Director General U Aung Naing Oo. The new act […]

Myanmar Will Hit This Year’s Foreign Investment Target After All, Says DICA Official

Myanmar can reach its target amount of investment for this fiscal year despite a slow start that raised doubts the country would bring in the $6 billion projected by officials, the Directorate of Investment and Company Administration (DICA) has said. U Aung Naing Oo, DICA’s Director General, said that although approved proposals are down more […]