Draft Companies Law designed to remove obstacles for foreign investment

A new Myanmar Companies Law currently being drafted by legislators will remove cumbersome restrictions and make foreign investment easier, said Dr Myat Nyana Soe, the secretary of Amyotha Hluttaw Bill Committee. “The draft law was approved by Amyotha Hluttaw and the amendments made by Aymotha Hluttaw and Bill Committee are already submitted to Pyithu Hluttaw. […]

Mechanism for Foreigners to Trade in YSX Under Way

A mechanism for foreign investors and organisations to take part in the Yangon Stock Exchange is under development, according to Myanmar Securities Exchange Centre (MSEC). Daily stock trading in Myanmar has declined significantly and the market is sluggish. In order to revive the trading activities, a system to include non-Myanmar investors from various sectors must […]

Trade on the rise, more FDI needed: U Ye Min Aung UMFCCI VP

U Ye Min Aung, vice president of the Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry, told the Global New Light of Myanmar his views on Myanmar’s economy in an exclusive interview. Q: Please tell us about the current economic situation in Myanmar? A: At the present period, global economy […]

NLD’s One-Year Anniversary: Government’s Economic Focus a Little Thin on Substance (I)

While a year has passed since the new government proclaimed “It’s time for change”, there’s no evidence of substantive changes for the private sector. Bureaucracy, lack of policy clarity and political uncertainty have dampened the mood of businesses. One year has almost passed since the new government took office with the slogan that shouts “It’s […]

Ayeyarwaddy Should Be ‘Secondary Hub’ to Foster Economic Growth Beyond Cities – Industrial Zone Chairman

​​ The Ayeyarwaddy Region has the po­tential to become a “secondary growth hub” for Myanmar thanks to its proximity to Yangon, its ability to host a deep sea port, and its relatively low land and labour costs, a meeting of investors or­ganized by the the Thai Business Association of Myanmar heard. U Ye Min Aung, […]

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 […]

MAPCO courts investment for agri-industry park

​​ Myanmar Agribusiness Public Corporation (MAPCO) is building the first of several planned agricultural industrial parks in Ayeyarwady Region aimed at attracting foreign and local investment into agriculture and agri-business. U Ye Min Aung, MAPCO’s managing director said the Myaungmya township-based project is small-scale but innovative. Basic infrastructure including roads, a jetty and an electricity […]

Dollar Exchange Rate Climbs, Shakes Up Burma’s Business Community

RANGOON — The US dollar exchange rate—at its highest since the new government came to power in April—has Burma’s business community looking for better trade policy. “In the black market, the exchange rate is currently 1306 kyats [US$1] per dollar; it’s too high for importers. If the import demand increases, it could impact the prices […]

Foreign investment into lagging agriculture and fisheries sectors urgently needed: exporters

The next government should urgently seek investment in the country’s lagging and underfunded agricultural and fisheries sector, to help halt and reverse the decline in exports, traders said. Of the US$38.18 billion received in foreign investment over the past five years, a bare $208 million has been ploughed into agriculture, according to the Directorate of […]

Companies begin to feel the heat as import costs climb

Myanmar’s plummeting currency has prompted a vicious circle of rising prices in the import-dependent economy, in which even export-driven companies face rising costs, say businesspeople. New laws and regulations are urgently needed to control the kyat, they said, which has fallen by more than 25 percent to the US dollar this year to K1300 yesterday, […]