AIM-listed Myanmar Strategic Holdings reports increased revenue in first public results

*$The London-listed hospitality and education group Myanmar Strategic Holdings Limited (“MSH”) has reported an increase in revenue for the first half of its financial year, despite having to contend with operational challenges arising from civil unrest in Rakhine State. Read more…

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European Union to provide funding for ‘Irrigated Agriculture Inclusive Development Project’ in Myanmar’s central dry zone

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The European Union is to provide €20 million in grant funding to Myanmar’s Ministry of Agriculture Livestock and Irrigation to assist it with the improvement of water resource management and the productivity of the agricultural sector in Myanmar’s central dry zone as part of the ‘Irrigated Agriculture Inclusive Development Project’ (“IAIDP”). Read more…

Golden Myanmar Business Exchange plans US$5 million data center

Fisherman fishes on the sea. Silhouette at sunriseGolden Myanmar Business Exchange (“GMBX”), a provider of data center services, has announced it intends to establish a new facility in Myanmar at a cost of approximately US$5 million. GMBX is a joint venture between Yangon-based Golden TMH Telecom Co. Limited (“GTMH”) and Golden 11 Investment International Limited. Read more…

TTCL Public Co. to construct US$2.5 bil­lion coal-fired power plant in Karen State

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TTCL-Public-Co- to-construct-US-2.5-bil­lion-coal-fired-power-plant-in-Karen-StateThe Thailand-based TTCL Public Company Limited (“TTCL”) will invest US$2.5 bil­lion to develop a new coal-fired power plant in Karen State. Construction on the plant is expected to be completed by 2023 and be fully operational by 2024 and have a capacity of 1,280 megawatts (“MW”). The project is a joint-venture with the Myanmar Government with TTCL taking a majority 95% share and the Myanmar Government 5%. Read more…

New Myan­mar Investment Commis­sion approved projects create 18,923 job opportunities

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Investment projects approved by the Myan­mar Investment Commis­sion (“MIC”) in August and September 2017 are expected to create 18,923 new job opportunities. According to U Maung Maung Win, Deputy Minister of the Ministry of Planning and Finance ‘‘foreign direct in­vestment is still at the crucial part in uplifting technology, capacity and job opportunities for the country. Read more…

Myanmar’s Department of Civil Aviation cooperating with the Interna­tional Civil Aviation Or­ganization to ensure the sustainable development of the Myan­mar aviation sector

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myanmar-to-benefit-from-asean-hong-kong-free-trade-agreement-1Myanmar’s Department of Civil Aviation has announced it will cooperate with the Interna­tional Civil Aviation Or­ganization (“ICAO”) in relation to the sustainable development of the Myan­mar’s aviation sector. The ICAO is a specialized agency of the United Nations which codifies the principles and techniques of international air navigation and fosters the planning and development of international air transport to ensure safe and orderly growth. Read more…

Myanmar Investment Commission approves construction of new China-backed industrial zone

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Myanmar countrysideThe Myanmar Investment Commission (“MIC”) has approved the construction of a new industrial zone in Maubin Township, in the Ayeyarwady region. The Maubin Industrial Zone (“MIZ”) will be developed on 250 acres of land. Preliminary construction work commenced at the MIZ site in May 2017 although MIC permission was not officially granted until November. Read more…

Myanmar Government introduces new fiscal year from 1 October 2018

myanmar-government-introduces-new-fiscal-year-from-1-october-2018-The Myanmar Government has made changes to Myanmar’s financial year which currently runs from 1 April to 31 March. The first new financial year will commence on 1 October 2018 and end on 30 September 2019. Accordingly, the new deadline for the filing of annual tax returns in the new financial year i.e. the 2018–2019 financial year will be 30 December 2019. The financial year of 2017–2018 will end on 30 March 2018. Read more…