Thursday, 21 September 2017
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myanmar - Corporate & Commercial - News

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

Big Business Groups say Proposed Laws on Foreigners will deter Investors

Foreign business associations in Myanmar say requirements and penalties in the newly proposed laws governing foreigners in the country would discourage overseas companies from setting up business in the state.
Date: 07 February 2017; Type: Legal News; Source: Myanmar Times

Nickel Factory Workers demand Enforcement of Investment Law

Nearly 1500 workers from a strike-plagued nickel factory in Sagaing Region launched a protest this week over a perceived loss of job opportunities and alleged discrepancies between how the foreign and local staffers are treated.
Date: 20 January 2017; Type: Legal News; Source: Myanmar Times

Myanmar Companies Act sent to Parliament

The Myanmar Companies Act – a pivotal piece of legislation that will reform how companies are regulated and allow foreign investors onto the Yangon Stock Exchange – was submitted to the Pyithu Hluttaw at the start this month, according to Directorate of Investment and Company Administration Director General U Aung Naing Oo.
Date: 12 January 2017; Type: Legal News; Source: Myanmar Times

Industry Updates

Malaysia-Thailand to ink MoU on Security Cooperation

BANGKOK, Sept 20 (Bernama) - There will be closer security cooperation between Malaysia and Thailand with the establishment of a Joint Committee on Security Cooperation, according to a cabinet resolution document released by the Thai government.

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High Taxes, Competition choke Cheroot-Makers

Myanmar's traditional mini cigar, the cheroot, is near extinction as manufacturers struggle with high taxes, high production costs and stiff competition from imported and local cigarettes.

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ASEAN enhances Coordination to tackle Cyber Threats

SINGAPORE, Sept 18 (Bernama) - ASEAN member states have agreed on the importance of enhancing coordination to ensure that its cybersecurity efforts across various platforms in countering increasingly sophisticated cyber threats are focused, effective and in synergy with one another.

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ASEAN to promote Trade with Russia and EAEU

Jakarta (ANTARA News) - ASEAN Economic Ministers agreed to expand trade with Russia and those grouped in the Eurasian Economic Union (EAEU).

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Conclusion of the ASEAN-Hong Kong, China Free Trade Agreement (AHKFTA) and the ASEAN-Hong Kong, China Investment Agreement (AHKIA)

The Economic Ministers of ASEAN and Hong Kong, China (HKC) announced the conclusion of the ASEAN-HKC Free Trade Agreement (AHKFTA) and the ASEANHKC Investment Agreement (AHKIA) at the Second ASEAN Economic Ministers (AEM)-HKC Consultations held on 9 September 2017 in Pasay City, the Philippines.

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ASEAN Meet explores Issues related to Tariff Commitments, Rules under ATIGA

KUALA LUMPUR, Sept 12 (Bernama) - The discussions on Association of South-East Asian Nations' (ASEAN) internal economic-related affairs, which were held in the Philippines at the 31th ASEAN Free Trade Agreement Council, explored issues related to tariff commitments and applicable rules under the ASEAN Trade in Goods Agreement (ATIGA).

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ASEAN-Korea Free Trade Area increases Bilateral Trade by 92.3 per cent

KUALA LUMPUR, Sept 10 (Bernama) - Bilateral trade between ASEAN and South Korea has increased by 92.3 per cent to US$118.84 billion in 2016 from US$61.81 billion in 2006 since the ASEAN-KOREA Free Trade Area (AKFTA) took effect in 2007.

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ASEAN MSMEs need More Financial, Technical Support: Study

MANILA - While the Association of Southeast Asian Nations (ASEAN) has available programs and pushing for policies that will boost micro, small, and medium enterprises (MSMEs), the region needs to introduce more financial and technical support to MSMEs, an ASEAN study said.

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ASEAN urged to widen Development through Inclusive Business

MANILA - The 10-member states of the Association of Southeast Asian Nations (ASEAN) are enjoined to promote inclusive business model in the region in order to achieve greater impact of development and reach the bottom of the pyramid.

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MIC issues 13 New Business Permits in August, including One for Beer

The Myanmar Investment Commission (MIC) has approved the issuance of 13 permits, including one for a beer joint venture in Mandalay.

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Court Action on Journalists, Activists delayed 2 Weeks

The court procedures related to the recently released journalists and activists will be completed on September 15, according to Hsipaw township court.

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Students

Union Government urged to recognize Student Unions

The government should recognise student unions at the union level to ensure their survival, urged U Thant Zin, a student of the 88-89 Generation and former chairman of the All Burma Federation of Student Unions of Upper Myanmar.

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