Beneficial-owner database lauded despite some weaknesses

Owners of major businesses or their close relatives who hold prominent public positions have so far not declared themselves as such, according to a Myanmar Times review of a new government database on beneficial ownership. The Directorate of Investment and Company Administration (DICA) recently published on its website the beneficial-ownership database for the Extractive Industries […]

Myanmar risks return to money-laundering watchlist

Myanmar has a high chance of falling back into the category of “high-risk” country on an international money-laundering watchlist because of its failure so far to impose and enforce adequate safeguards, according to officials and experts. They warn that Myanmar’s likely return next year to the “grey list” of states compiled by the Financial Action […]

Investment laws may be combined, says official

The Foreign Investment Department is considering combining the foreign and Myanmar citizens’ investment laws, its director in chief, U Aung Naing Oo, told Mizzima on December 4. U Aung Naing Oo stressed that no consideration was being given to amending the Foreign Investment Law, which was promulgated on November 3, 2012. “We are just thinking […]