doing business in myanmar – what you need to know as a singaporean
THE Yangon Region Investment Committee (YRIC) has not received any proposals for casino businesses, and it does not plan to green light such businesses, said U Phyo Min Thein, the Yangon Region Chief Minister.
He made the remarks at a press conference held on Wednesday at the YRIC office.
“There is no proposal for setting up a casino business in Yangon Region. Also, the investment committee does not plan to endorse such businesses,” said U Phyo Min Thein.
“The casino legislation is still being drafted. After the rules and regulations are drawn up, the MIC would be able to grant permission for casino businesses,” said U Myo Khaing Oo, the secretary of the YRIC.
The Myanmar Investment Commission (MIC) had received enquiries for establishing casino businesses, especially from Macau.
On 9 February, 2018, U Aung Hlaing Win, a representative of the Mingaladon constituency, had raised a question at the Pyithu Hluttaw, asking whether casino businesses would be permitted in islands where most tourists flock to, as such businesses can earn revenue and help improve the hotel and tourism business.
Union Minister for Hotels and Tourism U Ohn Maung had responded that the Ministry of Home Affairs had agreed to allow casinos only after the amendment of the Gambling Law 1986. “Under the existing law, casino businesses at islands that tourists usually visit cannot be approved. We will work for this as we have already obtained approval from the concerned ministry,” he had said.
On 22 August, 2018, the Public Affairs Management Committee submitted the 2018 gambling bill, including six chapters and 23 sections, before the Pyithu Hluttaw.
However, the two Hluttaws were divided over the 2018 gambling legislation. Later, the Bill Committee presented parts of each section of the bill and held a debate on the tenth day of the Second Pyidaungsu Hluttaw’s 11th regular session on 26 February, 2019. Thereafter, the members submitted their suggestions to the committee.
Source: Global New Light of Myanmar
