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Myanmar Companies Act approved

President U Htin Kyaw signed the Myanmar Companies Act at the Pyidaungsu Hluttaw Wednesday, approving the most anticipated piece of legislation in the country this year. Under the new Myanmar Companies Act, foreigners will be permitted to take up to a 35 percent stake in local companies. It also stipulates that businesses with foreign stakes […]

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Myanmar’s largest oil refinery project cancelled

Construction of a multi-billion-dollar oil refinery in the south of Dawei has been cancelled after an investor in the project ran into financial constraints, sources confirmed. If completed, the oil refinery would have been the largest in Myanmar. The project, which is backed by the Chinese, had received approval under the former government led by […]

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Myanmar to approve five specialised banks for targeted lending

The Central Bank of Myanmar (CBM) will approve the forming of five sector-specific banks, according to a directive from the President’s Office to the central bank. Under the directive, the President’s Office has instructed CBM to approve the opening of Myanmar Tourism Bank, Mineral Development Bank, Glory Farmer Development Bank, Mandalay Farmer Development Bank and […]

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Myanmar Companies Yearbook out

The Myanmar Companies Yearbook, a groundbreaking publication that contains key information about the leading companies in Myanmar, was launched by the FWP Research Co. Ltd in November. The FWP Research, a Tokyo-based research and survey firm, said it published The Myanmar Companies Yearbook (English version) Vol.1,toimprove the transparency of companies in the country. The yearbook […]

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