Private insurance entered the market three years ago and has slowly been generating more business, according to deputy finance minister Dr Maung Maung Thein.
Veterans of other Southeast Asian cities quickly notice the differences when visiting Yangon. The treed streets and heritage buildings mark the city as unique, and Shwedagon Pagoda, the city’s landmark, is a ready symbol of Yangon.
A major issue surrounding project implementation in Myanmar is the way environmental and social impact assessment (EIA/SIA) reports are conducted. Without clear legislation, many investment projects struggle to complete this critical step.
The enactment of the Banks and Financial Institutions Law of Myanmar has been delayed in parliament due to its complexity, sources said.