Myanmar Highlights

Myanmar Highlights October 2019 Download PDF |...

According to the Ministry of Commerce, in July 2019, Myanmar exported over 29,000 tons of rice to China through Myanmar-China border trade camps, an increase of over 3,000 tons from June 2019.

Myanmar Highlights September 2019 Download PDF |...

Foreign casino operators from Hong Kong, Taiwan and Macau have been actively pursuing opportunities in Myanmar. The 2018 Gambling Law, which was passed in May 2019, legalises casino gambling in Myanmar

Government-approved foreign direct investment (“FDI”) into Myanmar increased by 77% to US$2.3 in the first-half of 2019 compared to US$1.3 billion in the same period in 2018. Singapore was largest investor

Wholesale Myanmar Limited (“Metro Wholesale Myanmar”) a Myanmar joint-venture company owned by Frankfurt-listed Metro AG (85%) and Singapore-listed Yoma Strategic Holdings Limited (15%)…

Myanmar Highlights January 2019 Download PDF |...

Myanmar Highlights January 2019 Download PDF |...

Myanmar’s Apex Bank Limited (“MAB”) has announced it will provide uncollateralized loans to Myanmar’s small and medium sized businesses (“SMEs”). The lending programme is being implemented in cooperation with German state-owned development bank KfW (formerly KfW Bankengruppe). Loan amounts will be based solely on companies’ income and expenditure and have an interest rate of 8.5%.

The Myanmar Government-owned New Yangon Development Co. Limited (“NYDC”) and the HKEX-listed China Communications Construction Company (“CCCC”) are in advanced negotiations in respect to the New Yangon City Development Project (“Project”). NYDC and CCCC are currently in the process of preparing pre-project documentation (“PPD”). The Project will cover an area twice the size of Singapore. Phase 1 of the Project’s development is expected to cost approximately US$1.5 billion (Kyats 2.83 trillion) and will include the development of five township villages, two bridges giving access to the new city, …

The Central Bank of Myanmar (“CBM”) has approved the establishment of the Mineral Development Bank (“MDB”) to provide banking services to small and medium size enterprises (“SMEs”) in the gems and mineral sector. Speaking at the opening ceremony U Ohn Win, Minister for Natural Resources and Environmental Conservation said “The MDB was established to provide loans for developing technologies in the extraction of gems and minerals and production of finished products”.

Pursuant to Central Bank of Myanmar (“CBM”) Notification No. 6/2018, foreign banks in Myanmar will be permitted to provide commercial services, putting them on a more equal footing with the countries local banks. According to CBM Vice-Governor.