Interview:Fred Hess How have changes to the legal framework affected levels of foreign direct investment (FDI)? FRED HESS: While it is difficult to draw any linkages between the recent changes to legislation and FDI in general, recent changes to the legal framework are encouraging as are the efforts of the Ministry of Natural Resources and Environmental Conservation (MNREC) to effectively implement…
Interview: U Ohn Maung To what extent does the new Tourism Law address the concerns of both local and foreign tour operators, and ecotourism players? U OHN MAUNG: The Tourism Law was enacted on September 17, 2018 with the objective of developing responsible businesses. Its focus is on the international marketing of Myanmar as a tourist destination, and it also protects the rights of travellers, including…
Interview:U Aung Myo Min Din What are your expectations for the homestay and ecotourism segments, and how is this likely to impact the market for hotels and lodging houses? U AUNG MYO MIN DIN: I, personally, do not anticipate the inclusion of these two new accommodation categories outlined in the new Tourism Law to dramatically impact the market for hotels and lodging houses. Rather, it is…
Interview:Dr Watson Aphiwatanakoon Do you think the establishment of private health care institutions in Myanmar will help stem the current outflow of patients to Thailand? DR WATSON APHIWATANAKOON: Private hospitals have started to appear in Myanmar for this reason, since people prefer to stay and receive quality health care rather than seek it abroad. The waiting time here for a simple consultation…
Interview:U Win Thin, Chairman How do you think that tax efficiency and competitiveness could be improved? U WIN THIN: There are 21 taxes and duties, with the Internal Revenue Department (IRD) collecting five of these: income tax; commercial tax; specific goods and services tax; stamp duties; and lottery tax. The total amount collected by the IRD through these channels constitutes over 80%…
Interview: U Aung Nyi Nyi Maw What additional improvements could be made to the public transport system in Yangon? U AUNG NYI NYI MAW: Yangon’s public transport system currently comprises the Yangon Bus Service (YBS), the water bus network and taxis. The YBS fleet has 5100 buses, 4500 of which operate on a daily basis, run by 23 different private companies under a scheme of 100 routes coordinated…
Our country is still in poverty and should develop every sector of the economy, which is why we must persevere with our efforts in all sectors. We are currently witnessing the transformation of an era and a system, in accordance with democratic principles. This is just the beginning of the transition. To make the process smooth and successful, it is very important for our people, government employees…
During the last three-quarters of a century Myanmar has undergone three major transitions: from colonial rule to independence in 1948, from parliamentary democracy to military dictatorship in 1962, and – in progress since 1988 – the transition from dictatorship to democracy. The first transition was the culmination of a hard and costly struggle; a clean-cut change from the status of a colonial…
Viewpoint:Cheah Swee Gim After taking office in 2016, the National League for Democracy continues to work to improve the legal framework for facilitating business development in Myanmar. Now that the dust has settled from a series of changes, Myanmar has begun to try to effectively execute the reforms promulgated in past years. However, that is not to say that there were not significant changes…
Officials have clarified the timeline for foreign insurers to enter the Myanmar market – a move that will boost competition and penetration. In August 2018 the Insurance Business Regulatory Board (IBRB) announced that overseas insurers would be allowed to formally enter the market at some point during FY 2018/19, which began October 1. “We are planning to allow foreigners to participate in the…
