Investments in low-cost housing projects are a bit huge: Yangon Chief Minister

Local entrepreneurs are not in a position to invest in the low-cost housing projects to be developed for around 150,000 squatters in Yangon as the capital investment is a bit huge, Yangon Region Chief Minister Phyo Min Thein said at Yangon Investment Forum 2018 held at the Union of Myanmar Federation of Chambers of Commerce […]

More Japanese companies to invest in Myanmar: Thilawa Special Economic Zone

More Japanese companies to invest in Myanmar: Thilawa Special Economic Zone Sawako Utsumi and Lee Jay Walker Modern Tokyo Times Increasing numbers of Japanese companies are investing in the Thilawa Special Economic Zone (SEZ) in Myanmar. Of course, this SEZ is especially important for Japan because it highlights the importance of Myanmar to political elites […]

Yangon government plans to buy, store fuel in attempt to control prices

As domestic fuel prices are expected to rise faster than global prices, the government will hedge against price volatility by buying and storing petrol onshore as demand rises during the coming fiscal year, said Yangon Chief Minister U Phyo Min Thein. Fuel, gasoline and diesel are vital for facilitating the flow of trade in Myanmar. […]

Company registration fees to halve from April 1, more SMEs expected

Company registration fees for small and medium enterprises (SMEs) will be halved from K500,000 to K250,000 from April 1 onwards, according to a statement issued by the Directorate of Investment and Company Administration (DICA) Tuesday. The latest move comes after DICA, together with the Ministry of Planning and Finance halved company registrations fees for private […]

Myanmar considers direct imports, new infrastructure to lower domestic fuel costs

The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and Myanmar Petroleum Trade Association (MPTA) have suggested that Myanmar directly import fuel oil from oil exporting countries in Asia. The move took place during a meeting with U Win Khine, Minister of the Ministry of Electricity and Energy (MOEE) at the UMFCCI […]

Govt to remove withholding taxes from April 1 to support businesses

The Inland Revenue Department (IRD) is planning to stop levying withholding tax starting April 1 onwards in a bid to boost the economy, it revealed during a weekend discussion. The discussions, which took place with the Yangon Regional Government, Union of Myanmar Federation of Chambers of Commerce and Industry and other business associations, were held […]

Myanmar Received $5 Bn in Foreign Investment in Current Fiscal Year

YANGON — Myanmar has received more than US$5.1 billion in foreign investment in the current 2017-18 fiscal year from April to the first week of February, according to the Directorate of Investment and Company Administration (DICA). “We have received more than $4.4 billion in foreign investment as of the first week of February, while existing […]

Draft foreigner laws reincarnated as DICA announcement

ELEMENTS of the draft foreigner laws are back, in another form, to haunt businesses and investors. The government’s newly expanded requirements on hiring foreign employees have been criticised as “burdensome and disruptive” and “another incarnation” of the draft foreigner laws which were submitted to the legislature in February. A leading legal expert has described the […]

Industry, govt hit back at garment factory report

DURING a news conference held by garment businesses on October 4, the Yangon regional government asked ActionAid Myanmar to revise its report about safety standards for women working in garment factories, calling the report inaccurate. In response to ActionAid’s report, an inspection tour of the factories mentioned in the report was made by Yangon Region […]

Shan businesses press for Mandalay-Muse route revamp

THE business community in northern Shan State urged the government to take measures concerning trade promotion and economic development, which includes upgrading the Mandalay-Muse highway, at a meeting with Vice President U Myint Swe. The Mandalay-Muse highway is the main route for the country’s border trade, according to the Hong Kong Trade Development Council. A […]