During the period of strict economic sanctions and export bans that Western countries levied against Myanmar through the 1990s and 2000s, the military government had little choice but to turn to China. China, with its deep pockets and a strategic focus on the periphery, was more than happy to invest in the isolated state, increasing Myanmar’s dependence and furthering Beijing’s own military and economic interests by tapping into the poorer state’s promising energy reserves and vying for...
Myanmar's parliamentary speaker Friday said the government will be instrumental in any amendment to the nation's military-drafted constitution, which currently bars opposition leader Aung San Suu Kyi from the presidency.
Opposition members of parliament and democracy activists have raised fears military lawmakers, who have 25 percent of seats guaranteed under the current constitution, may prove an obstacle to amending the document regardless of whether the government presses for...
When he visited Myanmar earlier this month, United States Deputy National Security Advisor for Strategic Communications and Speechwriting Ben Rhodes laid out the US vision for Myanmar in one sentence: “We see the story as just beginning.”
But Mr Rhodes and his colleagues in Washington are more than aware that Myanmar’s story is not beginning now, in 2013. Nor did it begin in November 2012, when President Barack Obama swept into Yangon to plant a kiss on the cheek of Daw Aung San Suu...
Last week’s article (“Still too early for private equity firms”), analysed one of the most controversial aspects of the Myanmar legal system: Foreigners cannot acquire shares in local companies and as a result locals are not allowed to transfer shares to foreigners in a 100 percent locally owned entity.
We also suggested that it would be very important for the national economy to remove this restriction and allow foreign investors to inject capital in existing small and medium...
Myanmar President's Office has named three more new advisers to the president, in a move to strengthen handling of economic and legal affairs in the process of the government's reform.
Thursday's official media quoted an announcement by the President's Office as reporting that Dr. Aung Tun Thet and Dr. Zaw Oo were appointed as economic advisers to the president, while U Nyan Naing Win was named legal adviser.
One of the three former political advisers U Ye Tint resigned from...
The Myanmar government, led by President U Thein Sein, has vowed to fulfill two common desires of the people, namely stability and rule of law, and socio-economic development of the country.
Addressing a ceremony of the swearing-in of some newly- appointed deputy ministers in Nay Pyi Taw Wednesday, U Thein Sein called for ensuring political stability to enforce the rule of law and stability, while striving to end six-decade-long conflicts with ethnic armed groups.
He stressed the need to...
Myanmar government has formed a separate national reform leading committee, led by President U Thein Sein, to direct efforts on reform program for the remaining 30 months of the present five-year term of office, replacing project commission set up in the past, official media reported Saturday.
Summoning Cabinet Ministers, Deputy Ministers and Chief Ministers of region and state governments, U Thein Sein urged to form delivery units or task forces and working groups to implement the policies...
Myanmar’s Company Act 1914 will be redrawn with assistance from the Asia Development Bank (ADB), said the deputy minister for National Planning and Economic Development.
The law is outdated and does not reflect the current situations, Deputy Minister Sett Aung noted during a parliamentary meeting on July 23.
The topic was first raised at the parliament by MP Kyi Myint from Latha Constituency, Yangon.
“This law is inconsistent with the Foreign Investment Law 2012. It also hurts the...
In the first article of a two-part series, Yangon-based economist Andrea Smurra explains why a small- and medium-sized enterprise law is vital for development
The draft Small and Medium Enterprise Law, which will be debated during the current session of parliament, has the potential to transform almost 90 percent of Myanmar’s businesses by encouraging competitiveness and investment.
If it is effective, the legislation could ensure that Myanmar SMEs can meet the challenges posed by the...
RANGOON — Although Burma is moving forward with economic reforms and opening up to the international community, businesspeople say the country is not yet ready to join a planned integrated network of Southeast Asian economies in 2015.
A lack of infrastructure, human resources and technology, along with an unfinished legal framework for businesses, are a concern for Burma as the Association of Southeast Asian Nations (Asean) attempts to form a single market within the next two...
As of 19 July, Myanmar/Burma is set to benefit once again from a special, advantageous trade arrangement with the EU after the country's recent efforts to improve the political, social and labour environments there. The EU will bring the country back under the so-called 'Everything But Arms' preferential trade regime which will grant duty-free and quota-free access to the European market for all products except for arms and ammunitions.
The trade preferences for Myanmar/Burma will be...
Myanmar President U Thein Sein has assured China that his country will continue to pursue a friendly policy towards Beijing and advance ties between the two countries.
Talking to visiting Fan Changlong, vice chairman of China's central military commission, in the capital, the president said Myanmar would continue to pursue a friendly policy toward Beijing and make unremitting efforts to push forward the Myanmar-China comprehensive strategic cooperation partnership, Xinhua reported.
U...
The governments of Myanmar and Hong Kong have agreed to negotiate a bilateral investment promotion and protection agreement and another on double taxation will follow, the financial secretary of the special administrative region of China said.
John Tsang said the deal “will provide certainty and clarity” to businesses in both jurisdictions and that negotiations “should be fairly straight -forward”.
He made the comments following a luncheon in Yangon for a delegation of officials...
RANGOON — Work on a replacement for Burma’s controversial and draconian Electronic Transactions Law has begun, according to information technology sector insiders in the former military-ruled country.
“We are preparing a new Electronic Transactions Law, which will be different from the old one,” said Myint Myint Than, director of the Myanmar Computer Federation (MCF), a government-linked industry organization.
The current law, one of the more garish relics of Burma’s five...
Did You Know?
The Burmese or Myanmar script developed from the Mon script, which was adapted from a southern Indian script during the 8th century. The earliest known inscriptions in the Burmese script date from the 11th... ... More
