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Analysis

Investments and improvements to Myanmar's energy infrastructure facilitate liquefied natural gas uptake
OBG
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In May 2018 local energy firm Elite Petrochemical inaugurated the first stage of a $128m LPG import and distribution facility in the Thilawa Special Economic Zone, located 25 km south of Yangon. The terminal and hub, developed under a build-operate-transfer model, includes a jetty for cargo handling and a 3000-tonne storage tank farm. The second stage, currently under construction, will expand…

Analysis

Liquefied natural gas supports security and diversity of Myanmar energy sources
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In January 2018 the Ministry of Electricity and Energy (MoEE) authorised four major power projects using its new “notice to proceed” approval process. If brought to fruition, these projects will collectively add more than 3000 MW of generation capacity to the national grid. Three projects will make use of imported LNG and are located at Ahlone in Yangon Region, Kanbauk in Tanintharyi Region,…

Analysis

Fiscal reform could support Myanmar's upcoming energy tenders
OBG
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The previous administration, led by U Thein Sein, awarded oil and gas blocks that offered companies the chance to earn handsome margins. However, since the fall of oil prices in 2014, production-sharing contracts (PSCs) have become less attractive. As such, private investors have called for fiscal reform to spur exploration activity. According to the state-owned Myanma Oil and Gas Enterprise…

Analysis

New Yangon city construction caters to Myanmar's growing urban population
OBG
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In an effort to alleviate problems associated with rapid urban growth, the Yangon regional government announced the formation of the New Yangon Development Company (NYDC) in March 2018. The NYDC is tasked with overseeing the development of a new city on the western outskirts of the commercial capital. The development of New Yangon City is planned in two stages. Phase one will be carried out…

Analysis

New condominium law and credit bureau to raise growth in Myanmar real estate mortgages
OBG
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A major factor constraining the development of the real estate sector is the lack of a mature mortgage market. Ambiguities on regulations related to immovable property rights, and incomplete or incorrect ownership records, are two of the main reasons why a mortgage culture has not yet developed in Myanmar. After promising growth in the first few years after political and economic reforms began…

Analysis

Myanmar seeks private investment in rail infrastructure
OBG
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With more than 6100 km of railway lines nationwide, Myanmar has the largest rail network in South-east Asia. While much of the infrastructure was built during British colonial rule – including major routes between Yangon and Mandalay and onwards to Myitkyina, Kachin State – more than half of the network was built under the State Law and Order Restoration Council after the military junta…

Analysis

Minimum wage debate must be resolved to continue Myanmar's manufacturing growth
OBG
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Myanmar instituted sweeping increases to the national minimum wage in 2018, boosting the rate to MMK4800 ($3.40) per eight-hour day, up from the MMK3600 ($2.55) rate set in September 2015. The changes come as Myanmar’s fast-paced growth draws an increasing number of rural workers into the larger cities for employment in the surging garment and light manufacturing sectors. Faced with high…

Analysis

Foreign investment liberalisation to benefit Myanmar's untapped retail market
OBG
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Myanmar’s growing retail sector received a boost in 2018 with regulations aimed at encouraging foreign investment in the sector and the economy as a whole, with more foreign brands now entering the market. Foreign investment laws and regulations governing the retail sector were reformed in recent years, paving the way for more foreign players in the local market. In August 2018 the Myanmar…

Analysis

Crop insurance scheme could protect Myanmar farmers against losses
OBG
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As part of the government’s broader approach to risk management, the Ministry of Planning and Finance approved the country’s first-ever crop insurance programme for local farmers in early 2018. While crop insurance is available in neighbouring Thailand, India and China, it was a luxury Myanmar farmers had not previously been widely exposed to. Myanmar’s agricultural output has suffered…

Analysis

New Mining Rules revive investor interest in Myanmar mining
OBG
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With the adoption of well-structured and pertinent legislation, Myanmar’s mining sector is taking the necessary steps to encourage much-needed foreign investment. Following the passing of amended mining legislation in 2015 and the publication of new Mining Rules in February 2018, policymakers have strengthened the sector’s legal structure, addressed investor concerns and eliminated inconsistencies…