A draft of the long-awaited Myanmar Investment Law has been submitted to parliament and will be passed soon, bringing a more strategic and nuanced approach to tax exemption in addition to simplifying investment, according to a DICA official.
Myanmar’s struggling bamboo sector requires a big boost in both technical support and government promotion if the fledgling industry is to one day formalise and get off the ground, industry experts say.
A select few Myanmar firms display a higher level of transparency than most of their ASEAN peers, but many large companies continue to show little interest in disclosure – even when legally required - according to a recent report from the Myanmar Centre for Responsible Business (MCRB).
The head of the Myanmar Industries Association, U Zaw Min Win, is the new president of the Union of Myanmar Federation of Chambers of Commerce and Industry, following a long-drawn-out election on September 17.
Things are looking up for Yangon’s rice bowl. Residents of Kyauktan township, Yangon Region, have begun to look forward to a future in which agriculture alone is not the centre of their lives. Part of the reason is funding from the World Bank.
Air Asia says it’s eying a restart of flights to Nay Pyi Taw from Bangkok and has plans to soon fly to Bagan from the Thai capital as Myanmar becomes a more attractive destination for tourists, a senior official at the budget airline said last week.
Myanmar’s business sector has welcomed US plans to lift almost all remaining sanctions against the country and reinstitute special trade preferences, but some industries could find it hard to take advantage of the new environment.
A Yangon City Development Committee proposal to establish a business district in Yankin township has been met with mixed responses from local developers, with one firm suggesting the area is already too densely populated and would be better suited to residential development.