Myanmar’s Sea Trade hits over US$20.5 bn

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As of 10 July 2020, Myanmar’s trade with foreign countries through sea routes totalled over US$20.5 billion in the current fiscal year of 2019-2020, an increase of over US$1.5 billion as compared to the same period in the last fiscal year. Myanmar currently has nine ports engaged in maritime trade, with the Yangon Port being the main gateway.  Read More…

MOPFI Shortlist Five Companies for Public-Private Steel Plant Joint Venture

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The Ministry of Planning, Finance and Industry (MoPFI) shortlisted five companies to apply to form a joint venture with state-owned No.1 Steel Plant (Myingyan). The steel mill, located in the Mandalay Region, temporarily suspended operations owing to mounting losses and an estimated K225 billion is needed to restart the plant. Read More…

Important Legal Developments amid Covid-19: New Insolvency Law and Industrial Zone Law

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Recording of the talk is available here.

On 9 July 2020, Julia Charlton spoke at a webinar organised by the Myanmar-Hong Kong Chamber of Commerce and Industry on important legal developments in Myanmar amid COVID-19. Julia provided an update on how labour-intensive industries are coping, focusing on factory reopenings and implications for employees, in addition to the extent of government relief measures and the general position in terms of investment in Myanmar, cross border and regional trade, e-commerce and external financial support and the business environment. Julia then went on to discuss two major regulatory reforms aimed at enhancing the investment environment: the implementation of Myanmar’s new Insolvency law and the new Industrial Zone Law.

This followed on from the Chamber’s recent webinar at which Julia spoke on the impact of COVID-19 on labour-intensive industries in Myanmar. Read More

Myanmar’s New Industrial Zone Law

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On 26 May 2020, the Industrial Zone Law was enacted by the Pyidaungsu Hluttaw, Myanmar’s highest legislature, aiming to promote industrialisation, create job opportunities through the establishment of industrial zones, attract foreign investment and increase the value of products based on domestic raw materials. Read More

COVID-19 and Labour-intensive Industry in Myanmar

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On 8 May 2020, Julia Charlton spoke at a webinar on COVID-19 and the impact on labour-intensive industry in Myanmar, organised by the India Myanmar Chamber of Commerce and Myanmar Hong Kong Chamber of Commerce and Industry. Please find the speech below and a link to watch the webinar here. Read More

Sweeping Changes to Myanmar’s Insolvency Law Regime

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On 14 February 2020, Myanmar passed the Insolvency Law 2020, which came into effect on 25 March 2020. The new Insolvency Law replaces the Yangon Insolvency Act 1909 and the Myanmar Insolvency Act 1920, addressing both corporate and personal insolvency and modernises the insolvency regime. Read More