Monday, 19 February 2018
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myanmar - Corporate & Commercial

Delayed permitted Businesses to receive Government Assistance

Almost 600 firms have experienced delays getting their businesses off the ground since 1988 despite having received permits from the Myanmar Investment Commission (MIC).
Date: 04 January 2018; Type: Legal News; Source: Myanmar Times

YSX flat despite New Law, ASEAN Bourses up

Stock investors were unexcited last week even after the Myanmar Companies Law was signed into legislation by President U Htin Kyaw and the announcement of a fifth listing - TMH Telecom Public Company - on the exchange.
Date: 11 December 2017; Type: Legal News; Source: Myanmar Times

Myanmar Companies Act approved

President U Htin Kyaw signed the Myanmar Companies Act at the Pyidaungsu Hluttaw Wednesday, approving the most anticipated piece of legislation in the country this year. Under the new Myanmar Companies Act, foreigners will be permitted to take up to a 35 percent stake in local companies. It also stipulates that businesses with foreign stakes o ...
Date: 07 December 2017; Type: Legal News; Source: Myanmar Times

Groups shaping Stronger Consumer Protection Bill

Consumer organisations were preparing to present a report aimed at enhancing a draft bill for the protection of consumers against unscrupulous traders selling substandard goods and services.
Date: 07 November 2017; Type: Legal News; Source: Myanmar Times

Draft Foreigner Laws reincarnated as DICA Announcement

ELEMENTS of the draft foreigner laws are back, in another form, to haunt businesses and investors. The government’s newly expanded requirements on hiring foreign employees have been criticised as “burdensome and disruptive” and “another incarnation” of the draft foreigner laws which were submitted to the legislature in ...
Date: 31 October 2017; Type: Legal News; Source: Myanmar Times

Government eyes Tougher Consumer Protection Law

The government is set to amend the Consumer Protection Law 2014 to make it more comprehensive in protecting the public, a senior official said.
Date: 21 September 2017; Type: Legal News; Source: Myanmar Times

Gemstones Bill needs More Changes: Panel

The Gemstones Bill, which had been passed by the Amyotha Hluttaw in August, still needs more amendments as it does not reflect the true sentiments of the people, according to a member of an advisory committee.
Date: 19 September 2017; Type: Legal News; Source: Myanmar Times

Consumers urged to complain about Faulty Goods and Services

The government has urged the people to be aware of their consumer rights and file complaints against defective products and poor services.
Date: 19 September 2017; Type: Legal News; Source: Myanmar Times

Examining the Companies Act

THE draft Companies Act, which is currently discussed by Amyotha Hluttaw, will introduce significant changes in the legal definition of foreign companies, the registration process and capital structures. Notably, foreign firms no longer need to obtain a permit to trade from the authorities and foreigners will be allowed to buy shares on the Yangon ...
Date: 05 September 2017; Type: Legal News; Source: Myanmar Times

Mogok Residents seek Amendments to Gemstones Law

Mogok residents were seeking amendments to Myanmar Gemstones Law to allow them to be accorded the same priority as companies and businessmen in applying to operate small and medium mining blocks in their area.
Date: 17 August 2017; Type: Legal News; Source: Myanmar Times

New Investment Law authorizes First Project led by Japanese Hotel Chain

The Japan-based Hotel Okura will open its first hotel in Myanmar with the help of Japan’s government-private fund in 2020, according to the company’s press release dated July 28.
Date: 04 August 2017; Type: Legal News; Source: Myanmar Times

Ministry to lift Ban on Livestock Export

The government has signalled its latest measure to boost the country’s agriculture and husbandry industries by offering loans to farms and lifting the ban on livestock export, according to the Ministry of Planning and Finance.
Date: 24 July 2017; Type: Legal News; Source: Myanmar Times

Lack of Accountability and Clarity in SEZ Law highlighted in Dawei

An inadequate legal framework, poor implementation process, absence of accountabilities and the lack of transparency lead to violations of human rights and environmental disruption in Myanmar’s Special Economic Zones, speakers at the Myanmar Special Economic Zones Forum highlighted.
Date: 13 July 2017; Type: Legal News; Source: Myanmar Times

Restrictive Hotel Licensing can drive Conflict

The restrictive licensing requirements for hospitality accommodation in Myanmar can drive conflict in communities which are having more international visitors, according to a publication by Business Innovation Facility.
Date: 12 June 2017; Type: Legal News; Source: Myanmar Times

Merchants urge Myanmar to increase and legalise Sugar Trade

Myanmar Sugar and Sugar Related Products Merchants and Manufacturer’s Association chairman U Soe Lin said on May 6 that the government needs to create markets to export sugar legally.
Date: 12 May 2017; Type: Legal News; Source: Myanmar Times

Legal Action to be taken for Oil Fund Embezzlement Case

Following an investigation into alleged oil funds embezzlement, the presidential office has instructed the Magwe regional government to proceed with legal action against guilty parties.
Date: 24 April 2017; Type: Legal News; Source: Myanmar Times

Breweries shut down for flouting Guidelines

Two breweries in the Mandalay industrial zone were temporarily shut down after they were found to have exceeded the specified wastewater disposal rate, said U Thant Zin Tun, assistant director of the Mandalay regional environmental conservation department.
Date: 23 February 2017; Type: Legal News; Source: Myanmar Times

MoUs inked to step up Thailand-Myanmar Cross-Border Trade

Business communities and the governments of Thailand and Myanmar have agreed on bolstering cross-border trade by improving existing channels and developing new routes, and with an emphasis on the exchange of data and a new cross-border SEZ. KOTA TINGGI, Feb 9 (Bernama) -- Minister in the Prime Minister's Department Datuk Seri Azalina Othman Sa ...
Date: 09 February 2017; Type: Legal News; Source: Myanmar Times

Parliament votes to dissolve MICA

Amyotha Hluttaw approved a proposal to dissolve the Myanmar International Cooperation Agency (MICA) – a food security agency formed under the U Thein Sein government – during the Hluttaw session held on February 7. Dr Arkar Moe from Kayin State constituency had earlier submitted a proposal stating that while MICA was formed with th ...
Date: 09 February 2017; Type: Legal News; Source: Myanmar Times

Hefty Fines for flouting Building Regulations

Building owners in Mandalay will soon face hefty fines that may exceed the value of the buildings if the structures are built without permits or if they flout regulations, warned the Mandalay City Development Committee (MCDC).
Date: 07 February 2017; Type: Legal News; Source: Myanmar Times

Industry Updates

Thailand, Cambodia discuss Nationality Verification for Migrant Workers

PHNOM PENH, Feb 14 (NNT) - Thailand's Labor Minister Adul Sangsingkeo and his Cambodian counterpart Ith Samheng discussed the nationality verification for undocumented migrant workers.

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Departing Lawyer urged NLD Government to get their Acts together

ERIC Rose from Herzfeld Rubin Meyer & Rose Law Firm Limited (HRMR), the Myanmar affiliate of New York-based Herzfeld & Rubin PC (H&R), attributed his exit to the combination of government inaction, the Rakhine crisis, remaining US financial sanctions and the suspension of the EU-Myanmar Investment Protection Agreement (IPA), which he alluded to as a “three-legged stool”.

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ASEAN: Terrorism most serious Security Threat to Region

SINGAPORE, Feb 6 (Bernama) - The ASEAN Defence Ministers today unanimously identified terrorism as the most serious security threat to the region.

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ASEAN unanimously agreed on KSCIP Initiative

SINGAPORE, Feb 6 (Bernama) - All 10 ASEAN countries have agreed with the King Salman Center for International Peace (KSCIP) initiative, said Malaysian Defence Minister Datuk Seri Hishammuddin Tun Hussein.

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Court Staff involved in Corruption: Committee

Low-rankING court officers have been accused of misusing judges’ names to solicit bribes, which is damaging the integrity of the courts, said U Myint Lwin, chair of the Examination Committee at the Yangon regional Hluttaw.

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Lawyers mark One Year since U Ko Ni’s Death

Lawyer groups marked the first anniversary of U Ko Ni’s assassination on Sunday with a call for the swift punishment of his accused murderers.

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Myanmar, Denmark launch New SME Fund

The Embassy of Denmark in Yangon and Department of SME Development under the Ministry of Industry on Thursday launched a Responsible Business Fund aimed at improving the productivity and competitiveness of Myanmar Small and Medium Enterprises (SMEs).

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Connectivity determinant to promote ASEAN-Indian Economic Cooperation

New Delhi, India, Jan 27 (ANTARA News) - Combined population of nearly 2 billion of the Association of Southeast Asian nations (ASEAN) and India could make southern Asian region a potential economic grouping.

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Chile, Thailand, ASEAN step up Cooperation on Anti-Money Laundering Campaign

BANGKOK, Jan 24 (NNT) - Thailand and Chile are organizing an international workshop on a joint anti-money laundering campaign.

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ASEAN-India Leaders vow to broaden Cooperation

Asean and Indian leaders agreed yesterday to enhance their strategic partnership and broaden cooperation in various fields to drive economic development in the two regions, the Lao Ministry of Foreign Affairs has said.

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Laos, Myanmar vow to cement Ties, sign Three Cooperation Deals

The governments of Laos and Myanmar agreed yesterday to enhance bilateral ties and cooperation during Prime Minister Thongloun Sisoulith’s official visit to the country.

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Myanmar takes Small Steps towards providing Greater Liquidity for SMEs

A rising number of start-ups as well as small and medium enterprises (SMEs) are emerging in Myanmar as business opportunities rise. However, many companies fail to achieve their full potential and contribute substantially to the economy because capital assistance is lacking in the country.

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