Author: cmadmin

Central Bank of Myanmar issues four banking licences to foreign banks

Central Bank of Myanmar issues four banking licences to foreign banks

  • Kanbawza Bank and Yangon Stock Exchange agree on settlement and clearing operations
  • CB Securities to use Thomson Reuters trading platform for YSX
  • The Ministry of Electric Power enters into MoU with China Three Gorges International Corporation
  • Ooredoo launches “Site Pyo” app for farmers
  • UKEF launches $300-m Myanmar credit facility

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Australian PanAust Group granted exploration licences under Myanmar's new Mining Law

Australian PanAust Group granted exploration licences under Myanmar’s new Mining Law

  • Seven telecom companies submit expressions of interest in becoming Myanmar’s fourth mobile operator
  • Central Bank of Myanmar names international banks shortlisted in second foreign-bank licence bidding round
  • Edotco Group to invest US$200 million to construct 5,000 new telecom towers in Myanmar
  • Government and JGC Corp. led consortium reach agreement to develop Hanthawaddy International Airport
  • Asian Development Bank and International Finance Corporation to provide US$300 million loan to Ooredoo Myanmar

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2015 Mines Law – a step in the right direction for Myanmar’s mining industry

2015 Mines Law – a step in the right direction for Myanmar’s mining industry

On 24 December 2015 Myanmar’s parliament (the Pyidaungsu Hluttaw) passed Law No. 72 ‘An Act Amending the Myanmar Mining Law’ (2015 Mines Law). The 2015 Mines Law amends Myanmar’s outdated 1994 Mines Law. The Government first announced its intention to amend the 1994 Mines Law in 2012. The protracted delay in introducing amending legislation has contributed to a stall in foreign direct investment (FDI) in mining in Myanmar. Mining FDI was just US$6.26 million in the year ended 31 March 2015. By comparison US$3.22 billion was invested in Myanmar’s oil and gas industry over the same period.

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