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ASEAN Exchanges: Myanmar Integrates Further

Myanmar’s Deputy Finance Minister, Maung Thein, has announced that the over-the-counter Myanmar Securities Exchange Centre (MSEC) will be replaced with the Yangon Stock Exchange in October 2015. So far, ten companies are expected to meet the criteria for initial listing on the exchange.

OECD and ASEAN Release Investment Policy Review of Myanmar

On December 9th, the Second ASEAN-OECD Investment Policy Conference was held in Jakarta, Indonesia, to discuss the continued facilitation and promotion of ASEAN investment for regional integration. The event brought together ASEAN investment policy makers, Organization for Economic Cooperation and Development (OECD) members, and industry leaders, to showcase ASEAN’s regional investment integration achievements since the first conference in 2010. Included at the conference was the release of the OECD’s Investment Policy Review of Myanmar, which marked the country as one to watch heading into 2015.

Myanmar Hosts 25th ASEAN Summit

On November 12th, the 25th Association of Southeast Asian Nations (ASEAN) Summit held its opening ceremony in Myanmar’s capital Naypyidaw. The Summit is ASEAN’s highest policy-making body. This gathering is of particular importance since there is now less than one year to go before the implementation of the ASEAN Economic Community (AEC).

Myanmar Expands List of Mandatory JVs, Cuts Import Tax Benefits, Seeks Investors for SEZ

In a number of new pieces of legislation and other actions, the Myanmar government has expanded the list of business activities that require the formation of a joint venture (JV), cut import tax benefits for a variety of businesses, and has announced that it is seeking investors for a new Special Economic Zone (SEZ).

Myanmar Establishes New Special Economic Zone

Plans are currently underway to develop a new special economic zone in Myeik. Located in Myanmar’s southeastern Tanintharyi region, Myeik is home to one of Myanmar’s growing number of industrial zones.

Vietnam and Myanmar Sign MoU to Strengthen Mutual Cooperation in the Banking Sector

Vietnam and Myanmar are building economic ties, primarily in the banking sector, after signing a memorandum of understanding on cooperation between a state-owned Vietnamese bank and a Myanmar industrial-related bank in Yangon earlier this month.

Myanmar Steps onto the World Stage

Myanmar, also known as Burma, has been closed to the world for much of its recent history. However, the country is now going through a process of opening up and liberalization.

Since President Thein Sein was elected in 2011, Myanmar has implemented a plethora of political and economic reforms. This new political outlook has resulted in the lifting of the long-existing international sanctions regime that had been imposed upon the country.

Myanmar and the Philippines Sign Several Trade and Investment Agreements

Dec. 9 – Myanmar and the Philippines strengthened business and trade relations this month with the signing of several memorandums of understanding (MoUs) designed to foster greater economic cooperation between the two nations. In total, six agreements were reached during President Thein Sein’s visit to the Philippines last week, ranging from renewable energy initiatives to […]

Vietnam, Myanmar Ease Visa Restrictions

Oct. 9 – In a move to strengthen relations between the two ASEAN countries of Myanmar and Vietnam, starting October 26, 2013, Vietnamese passport holders will no longer have to obtain a visa in order to visit Myanmar for short term stays of up to 14 days. The visa exemption agreement, which was enacted to […]

Myanmar Approves Plans for New International Airport

Aug. 14 – This week Myanmar approved the Incheon International Airport Corporation’s bid for the construction of a US$1.1 billion airfield to be located within the country’s commercial center of Yangon. The airport, to be called the Hanthawaddy International Airport, will begin construction next year under the management of Incheon, a Korean company with experience […]