The innovative tech scene in South-east Asia is quickly garnering international attention. For instance, a jolt occurred in the international tech industry in early 2018 when the Singapore-based ride-hailing app Grab announced that it would take control of the South-east Asian operations of its US-based competitor – and global first-mover – Uber. The purchase, which gave Uber a 27.5% stake…
Myanmar is now one of the fastest-growing economies in Asia Pacific, with a key geostrategic location, abundant natural resources and a youthful population underpinning its progress. It is also a country that has achieved much in a relatively short period of time, after only setting out on the path of liberalisation and democratisation in 2011-12. Since then GDP, personal incomes, international trade…
This chapter contains a list of some of the country’s top hotels; contact details for embassies, ministries and organisations; and helpful tips for business and leisure travellers ahead of a trip to Myanmar. This chapter contains an interview with Peter Crowhurst, CEO, British Chamber of Commerce Myanmar.…
This chapter examines the legal system of Myanmar, focusing on changes arising from the Myanmar Company Law and efforts to open up to foreign investment. Crucially, the banking sector has reduced restrictions on foreign participation and introduced the Mobile Financial Services Regulations in an effort to increase banking penetration. The chapter also outlines the measures introduced to enhance transparency…
This chapter offers an overview of Myanmar’s tax regime, including the provisions of Myanmar Income Tax Law and the conditions for Commercial Tax and Specific Goods Tax, alongside individuals’ tax obligations – and the penalties for failure to comply. It also outlines the differences in tax requirements for foreign bodies and Myanmar nationals, and summarises Myanmar’s tax assessment systems.…
Myanmar’s education sector has undergone a significant transformation following the transition to democracy. Budget allocation for the sector has risen steadily and liberalisation has resulted in the emergence of a rapidly expanding private school segment. Nevertheless, further work is required to reform the curriculum, raise teaching standards and adopt education technology if the country’s…
Sharing borders with India, Bangladesh, Thailand, Laos and China, Myanmar is one of the last frontiers of Asian tourism. Offering pristine beaches, abundant cultural and natural attractions, and a warm, hospitable population, the country has significant potential – especially considering the thriving travel markets in neighbouring states. Following its opening as a travel destination, the sector…
Endowed with rich deposits of jade, ruby, copper, lead, zinc, tin, tungsten, silver, gold, antimony, nickel and barite, as well as a long history of mining that dates back to the 15th century, Myanmar’s mining sector has significant potential. While these rich and varied reserves indicate a bright future for the industry, there are numerous regulatory, infrastructural and societal challenges that…
Myanmar boasts diverse ecological conditions, fertile soil, and promising fisheries and aquaculture. The current administration has centred its vision for future economic prosperity and its drive to alleviate poverty around agriculture. Demonstrating the sector’s significance, agriculture accounted for 38% of GDP and 70% of the workforce in 2018. While Myanmar was once the world’s largest exporter…
