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Ngwe Saung Luxury Project Eyes Dec. 2017 Start
A luxury resort project which includes villas and a five-star hotel along Ngwe Saung beach in Ayeyarwaddy region has begun. The project is located on 160 acres of land in Bu Kwey Gyi village in Ngwe...
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Real estate income tax to rise five-fold from April 1
Imposition of income taxes on real estate is set to rise five-fold starting from April 2016, according to the Tachileik Internal Revenue Department. “The Imposition of land tax on real estate and...
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Tax documents no barrier to business visas
Foreign nationals will not have to provide tax documents to receive either a business or an employment visa, according to immigration officials, although new regulations had indicated this would be...
View ArticleNational Water Resources Committee invites EOI for Ayeyarwady Integrated...
REQUEST FOR EXPRESSIONS OF INTEREST (CONSULTING SERVICES— FIRMS SELECTION) Country : MYANMAR Project: Ayeyarwady Integrated River Basin Management (AIRBM) Project Credit No.: IDA 55590 Project ID:...
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Ambitious flyover dreams held back
As the opening date for the first of three new flyovers in Yangon nears, government officials admit they will not be a panacea to the city’s traffic woes, but say the government lacks the budget to...
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Carlsberg Establishes Greenfield Brewery in Myanmar with ALECTIA
In 2013 Carlsberg Group announced that it had signed a strategic partnership agreement with a local privately-owned leading beverage company, Myanmar Golden Star (MGS) Breweries, to brew and market...
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Don’t wait too long to invest in Myanmar’s growth
Western investors have been patiently observing Myanmar’s growth story – but wait too long and you’ll miss out, say KBZ’s Nyo Myint and Zaw Lin Aung. After 50 years of isolation under military rule,...
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Few firms ready for March IPO, says SEC
Only two or three companies will be ready to list on the Yangon Stock Exchange by March, when trading is expected to start, according to an official at the Myanmar Securities and Exchange Commission...
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Japanese bank tests kyat currency hedge
Sumitomo Mitsubishi Banking Corporation is testing the use of forward exchange rate contracts in Myanmar, in response to clients eager for a way to hedge against kyat volatility. The Japanese lender...
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Sales slow but ministers optimistic on Mandalay jade market
Mandalay jade sellers are still resisting moving to a new market due to open in August. Only a small percentage of apartments at the market have been sold, although the regional mining minister says...
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SMART Myanmar launches 2nd phase of European Union funded project
SMART Myanmar held a kick-off launch event on 19 January at the UMFCCI with approximately 200 guests from factories, embassies and other stakeholders, according to a press release on the 20 January....
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Tuborg turnaround for Carlsberg
Carlsberg has caved to complaints from the family of a famous Mandalay singer, who say the Danish brewer used the title of one of his hits as the name for Tuborg Beer in Myanmar. “In light of the...
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Condo law could help reverse investment drop, says DICA
Foreign investors would look to the incoming government to create a reliable and welcoming environment, experts say. The speedy adoption of the long-delayed condo law, which would allow foreigners to...
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Few firms ready for March IPO, says SEC
Only two or three companies will be ready to list on the Yangon Stock Exchange by March, when trading is expected to start, according to an official at the Myanmar Securities and Exchange Commission...
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Malaysia visa scheme negotiations hit snag
Taking a page out of the workers’ union book, overseas recruiters have found their boycott paid off. A moratorium on sending workers to Malaysia was launched after revisions to the scheme jumped the...
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Myanmar garment sector gets €2.8 mn EU boost
Small and medium enterprises in Myanmar’s garment sector are set to get a 2.8 million euros boost from the European Union. The cash infusion will support the second phase of a development initiative...
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Rice sector faces long struggle
Whatever steps the incoming government may be contemplating to spur investment, agricultural experts see little improvement in the short term for rice cultivation. Even long-term development will be a...
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Shifting to Chinese cars
Hoping to wean drivers off second-hand Japanese cars, LS Auto signed a deal on January 18 to import vehicles from China’s Guangzhou Automobile Group, GAC Motor, starting in March. The deal could open...
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Tougher checks for Myanmar’s development projects
Myanmar has announced new requirements for assessing the environmental and social impacts of development projects, which have been worked up with assistance from the Asian Development Bank. The...
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Foreign firms eye new Myanmar telecoms licence despite inexperienced partners
Jan 25 Seven foreign firms are interested in bidding for Myanmar’s fourth telecoms license, a government official said on Monday, as the prospects of one of the region’s least connected nations...
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