From the Thilawa Special Economic Zone (SEZ) to a large-scale mixed development project just opposite Shwedagon Pagoda in the heart of Yangon City, Japan’s presence in Myanmar is growing fast. Since 2012, its combined investments in Thilawa and that approved by the Myanmar Investment Commission (MIC) have risen by 6.3 times, to US$341 million in […]
Read MoreAction will be taken against those who do not adhere to a new kyat payment rule when dealing in domestic transactions. This includes trade at the border areas, Vice Governor of the Central Bank of Myanmar (CBM) U Bo Bo Nge said on August 28. “To reduce the use of Thai baht in local payments […]
Read MoreMajor structural overhauls have to be carried out so the country can maximise its potential for growth. Myanmar’s economy is projected by the World Bank to grow by an average of 7 percent between 2017 and 2019. Last year, GDP rose by 6.5pc. That’s among the fastest growing economies in Asia, alongside the likes of […]
Read MoreThe Myanmar Investment Commission will retain the power to approve or reject applications for tax incentives. Regional and state investment commissions are given 15 working days to review an application once they have accepted a submission from an investor, according to Notification No 25/2017 released by the Myanmar Investment Commission. The Myanmar Investment Commission (MIC) has […]
Read MoreGrab, Southeast Asia’s biggest ride-hailing app, plans to invest US$100 million in Myanmar as it extends its battle with Uber Technologies Inc to capture exploding use of smartphones. Grab will invest the money over the next three years and work with local governments to expand ride-hailing to more cities and roll out services such as […]
Read MoreA rise in illegal onion imports from China is crowding out local onion producers and could eventually lead to an oversupply and lower prices. Onions from China first entered the country on a large scale in 2015, when the Ministry of Commerce authorised the import of 800 tonnes of onions from China and Thailand to […]
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