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Government announces new MIC appointments, U Thaung Tun as new chair

The Union government on Saturday officially announced changes in the ranks of the Myanmar Investment Commission (MIC). According to notification (61/2018), U Thaung Tun, union minster of Ministry of the Office of the Union Government, formerly a member of the MIC, will now be the commission’s chair. Meanwhile, Dr Than Myint, Union Minister of Commerce, […]

IFC, Regulators Assess Corporate Governance of Myanmar Firms

IFC, a member of the World Bank Group, is working with Myanmar regulators to benchmark the corporate governance practices of Myanmar companies against international standards to help them improve performance, according to a statement. Numerous studies show that stronger governance helps companies operate more efficiently and manage risks better. In cooperation with the Securities and […]

Delayed Permitted Businesses to Receive Govt Assistance

Almost 600 firms have experienced delays getting their businesses off the ground since 1988 despite having received permits from the Myanmar Investment Commission (MIC). Of the 2,723 local and foreign businesses permitted to operate in Myanmar between 1988 and 2017, a total of 581 have yet to start. As such, inspections will be conducted and […]

Ministry Reduces Taxes For YSX Companies, Markets to Gain

The Ministry of Plan­ning and Finance reduced income-tax for companies listed on the Yangon Stock Ex­change by 5 percent to incentivize companies to list on the nascent capital market, U Htay Chun, a member of the Securities and Exchange Commis­sion of Myanmar (SECM), told Myanmar Business Today. In a bid to bolster the developing market […]

Shares of 55 companies can soon be traded locally

55 public companies which were given the green light to sell shares in the local over-the-counter (OTC) market must receive official permission from the Securities and Exchange Commission of Myanmar (SECM) first, U Htay Chun, member of the commission, told The Myanmar Times. The announcement comes a day after the Directorate of Investment and Company […]

SECM Clamps Down on Financial Scams and Illegal Trading

THE Securities Exchange Commission of Myanmar (SECM) is clamping down on financial scams and illegal trading by unlisted companies in the country. On July 3, it appealed to the public for more information on I Smart Co, a company with operations in Mawlamine. I Smart Co is reported to be engaged in suspicious trading activities […]

FDI companies can trade on YSX

When the new Myanmar Companies Act emerges, a system to allow companies with foreign investment to list on the Yangon Stock Exchange, will be established, said U Htay Chun, a member of Myanmar Securities Exchange Supervisory Commission to Myawady Daily newspaper, yesterday. “Foreigners are unauthorized to participate in stock trading on YSX under existing Myanmar […]

The members of the new Myanmar Investment Commission has been announced

THE Myanmar Investment Commission (MIC) was reshuffled on Tuesday with the appointment of U Kyaw Win, Union Minister for National Planning and Finance as chairman and U Than Myint, Union Minister for Commerce as vice chairman. The reformed commission includes 11 new members, while U Aung Naing Oo, former Secretary of the MIC, has been […]