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Second law firm exits Myanmar, calls Companies Law delay a mistake

The govt has a mentality that, if something has to be done, “all you need to do is to pass a new law and that’s going to solve the problem.” It’s time to focus on communications with the private sector and actual implementation. Following New York-based Herzfeld & Rubin PC (H&R), another major law firm, […]

Delay in Companies Law Negative, but not Surprising

Implementation of the long-awaited Companies Law will be postponed until August 2018, Reuters reported Monday, citing top officials from Myanmar’s Directorate of Investment and Company Administration (DICA). Myanmar will delay implementing a new law that would have allowed foreign companies to take up to a 35 percent stake in local companies, bringing about badly needed reforms for […]

New Companies Law a game changer for bourse

The enactment of the new Myanmar Companies Law will bring about change for local companies listed or planning to list on the Yangon Stock Exchange (YSX), leading to further development in the economy. Under the new Companies Law, which was officially signed into legislation by President U Htin Kyaw on Wednesday, foreigner investors will now […]

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 […]

What do Local and International Businesses Make of The Belt and Road?

Businesses in Myanmar generally welcome the Belt and Road Initiative’s (BRI) investment boost for the country’s infrastructure development. Some urged Myanmar to be more proactive in navigating its involvement in the scheme. Many emphasised the importance of transparency, public engagement and adhering to international practices. But some have also expressed reservation and scepticism against China’s ambitious […]

Burmese Tycoon Tay Za Under Scrutiny

By Jared Ferrie Myanmar tycoon Tay Za leans back and fulminates against the U.S. government as a playful pet bear cub scrambles up his alligator-skin chair. “They are world police,” he says, complaining that U.S. sanctions are stifling his businesses and officials are scrutinizing his every transaction. As Tay Za speaks, attentive staff intervene occasionally […]

Channel NewsAsia launches Yangon bureau

YANGON: Channel NewsAsia held its Business Insights Seminar in Yangon on Thursday as part of the official launch of its Yangon bureau. Participants agreed that laws in Myanmar are still vague and uncertain, despite progress made in the legal environment. But many are still optimistic about the business opportunities the country has to offer. Launching […]

Internet providers mull a more competitive future

Internet Service Providers (ISPs) say they are preparing for competition as the sector liberalises to allow entrants in the future, though insiders say Telenor and Ooredoo’s emphasis on their mobile rollout may buy fixed-line ISPs some breathing room. With only state-run Myanmar Posts and Telecommunications (MPT) and Yatanarpon Teleport Company (YPT) currently licensed to provide […]