Myanmar MEITI reports Myanmar’s oil and gas sector accounts for almost half of the country’s national debt

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myanmar-meiti-reports-myanmars-oil-and-gas-sector-accounts-for-almost-half-of-the-countrys-national-debt.jpgAccording to the annual progress report of The Extractive Industries Transparency Initiative in Myanmar (“Myanmar MEITI”), Myanmar’s oil and gas sector, while being the largest source of revenue for the Government, is also responsible for almost half of Government debt. Read more…

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The Myanmar Investment Commission approves development of new US$9 million auto manufacturing facility

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the-myanmar-investment-commission-approves-development-of-new-us9-million-auto-manufacturing-facility.jpgThe Myanmar Investment Commission (“MIC”) has approved an investment proposal received from the Singapore-based Shwe Daehan Motors Company Limited (“Shwe Daehan Motors”) in respect to the development of an auto manufacturing facility in the Thardukan Industrial Zone in Shwepyithar Township, Mandalay. According to the MIC Shwe Daehan Motors will invest US$9 million to develop the facility which will manufacture cars and motor bikes on behalf of an undisclosed Korean motor brand.  Read more…

Myanmar’s Ministry of Mines issues regulations implementing the 2015 Mines Law and commences consultation on draft mining EIA Guidelines

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myanmars-ministry-of-mines-issues-regulationsThe Myanmar Government has belatedly issued rules implementing the 2015 Myanmar Mines Law (“2015 Mines Law”). The 2015 Mines Law introduced a number of progressive legislative amendments intended to encourage international participation in Myanmar’s mining sector. Read more…

Myanmar Investment Commission permits foreign investors to wholly-own private schools in Myanmar

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Sunset old Temple wat Praputtachai at Saraburi, ThailandPursuant to Myanmar Investment Commission (“MIC”) Notification 7/2018 (“MIC Notification”) issued on 20 April 2018 foreign companies will be permitted to wholly-own private schools in Myanmar.  Foreign-owned private schools will be permitted to provide either a curriculum prescribed by the Ministry of Education (“MOE”) or an internationally recognised curriculum approved by the MIC and MOE. Read more…

Coffee Concepts Myanmar obtains MIC approval to establish Myanmar’s first Starbucks

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coffee-concepts-myanmar-obtains-mic-approval-to-establish-myanmars-first-starbucksThe Seattle-headquartered Starbucks Corporation (“Starbucks”) is to establish operations in Myanmar. On 12 May 2018, the Myanmar Investment Commission (“MIC”) approved the foreign investment proposal of Coffee Concepts Myanmar Ltd (“CCM”), a wholly foreign-owned food and beverage services provider, and Starbucks’ Myanmar franchisee.  Read more…