Companies and state-owned enterprises (SOEs) involved in Myanmar’s oil and gas production and transportation, mineral and gemstone industries are required from January 1 onwards to publicly disclose information on beneficial ownership and politically exposed persons. This is in accordance with Notification No.104/2019 dated October 2019 and in line with Requirement 2.5 of the Extractive Industries […]
CityMart replaces FMI to rank first in Pwint Thit Sa corporate disclosure report
May 7, 2019 by
Familiar names featured among the top ranked companies in the latest Pwint Thit Sa report on corporate governance and transparency, which for the first time assessed the performance of leading state-owned economic enterprises. The fifth Pwint Thit Sa report by the Myanmar Centre for Responsible Business, completed in partnership with business consultancy, Yever, assessed information […]
National Planning Law Expects Highest Growth in Telecom, Industrial, Financial Sectors
September 25, 2018 by
Amid a slowing economy and complaints from the business community, Myanmar’s parliament has approved a National Planning Law for the 2018-2019 fiscal year which expects to see the highest growth rate in the country’s telecommunications, industrial and financial sectors. On Wednesday, President U Win Myint signed the bill with the approval of the Union Parliament […]
Representatives call for review of SOE law
September 13, 2018 by
Representatives of Parliament have urged lawmakers to review an existing law under which the government must bail out loss-making State-owned enterprises (SOEs) with public funds. A total of 17 out of the 26 Myanmar SOEs under the Union budget are expected to turn a profit in 2018-19, commencing October 1, according to the Ministry of […]
Myanmar’s state-owned enterprises show how much reform is still needed
August 6, 2018 by
NOTHING has been made in the engine factory in Thagaya, in the south of Myanmar, since April last year. Yet around 350 employees still turn up each day. In 2016 government-owned factories like this one made a loss of more than $200m. When Myanmar moved from military dictatorship to a form of democracy, its new […]
Government approves seven new express delivery providers
July 3, 2018 by
The government has officially granted permission to a total of seven new registered express delivery providers to carry out operations in the country. The registered service providers will provide postal and parcel express delivery services both domestically and internationally and will be managed by the Ministry of Transportation and Communication, according to a government notification. […]
Myanmar Timber Enterprise targets higher sales, commercial restructuring
May 3, 2018 by
State-owned Myanmar Timber Enterprise (MTE) is targeting sales of 5,000 tonnes of teak and 100,000 tonnes of hard wood during the six-month period between April and October this year. The sales are expected to generate K63 billion in revenues, MTE deputy general manager U Khin Maung Kyi told The Myanmar Times. Sales will be conducted […]
Myanmar’s First Private Pharmaceutical Factory Opens in Dagon Seikkan Township
August 8, 2017 by
Myanmar’s first privately owned pharmaceutical factory opened its doors in Dagon Seikkan Township, Yangon on the third week of July. Located in Industrial Zone 1, Pacific Medical Industries Limited’s (PMI) facility is a two-story building that includes offices, a quality control area, and a massive 16,630 square meter manufacturing floor. In an effort to relieve […]
Crop insurance to soon be offered
June 29, 2017 by
Crop insurance, which is of vital importance in agro-centric Myanmar, will soon be available to farmers who must regularly risk floods and other natural disasters that could potentially wipe out their harvest and their income for the season. A supervision committee on private insurance enterprises announced that private insurance companies established after 2013 will be […]
