Myanmar Monitor

Photo credit: MM Biz Today

Economy, Investment and Trade

Myanmar to reduce registration fees for SMEs
(21 January 2018) The Deputy Director-General of the Directorate of Investment and Company Administration(DICA) Aung Than Kyaw said that there are plans underway to reduce the registration fee for small-and medium-sized enterprises (SMEs). He said that the plan is to enable easier registration for all SMEs and the smooth operation of loan schemes for the export sector. The current company registration fee is around K500,000 (US$375) but general expenses take the total to K1 million (US$700).
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Myanmar to draft plan for digital economy
(19 January 2018) A member of the Digital Economy Development Committee (DEDC) said the committee is in the midst of drafting Myanmar’s Digital Economy Development Master Plan. The plan will include a short-term (2-3 years) and a medium-term (3-5 years) working programme. Implementation will begin when the master plan and these accompanying working programmes are completed. Myanmar has an estimated 46.4 million internet users and 89 percent of the population has access to the internet.
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Myanmar needs labour law reform for sustainable development
(18 January 2018) Myanmar hosted a forum on labour titled, ‘Initiative to Promote Fundamental Labour Rights and Practices’ funded by the European Union. While all speakers and attendees commended Myanmar on progress made in the labour sector, a representative from the Union of Myanmar Federation of Chambers of Commerce and Industry said that, “Both workers and employers deserve a labour market that is fair and predictable. A well-developed labour law is a key element in creating this environment. However, laws alone are not enough. Implementation of the legal framework is also essential, and in this area the private sector believes there is significant room for improvement”.
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Myanmar prepares for fifth firm to list on stock exchange
(18 January 2018) The Yangon Stock Exchange (YSX) will welcome its fifth listing, TMH Telecom Co, on 26 January 2018. According to the YSX, the company sold 540,000 shares priced at around K3,000 (US$0.23) during its Initial Public Offering, raising some K1.6 billion (US$750,000) in proceeds. TMH Telecom, which provides telecommunications, internet and top-up services, will use around 70 percent of the funds raised for equipment and labour costs associated with its 126 telecommunications towers in Mandalay and Shan regions.
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Foreign Affairs

Myanmar to sign ceasefire with two more rebel groups
(24 January 2018) Two rebel groups, New Mon State Party and the Lahu Democratic Union, have agreed to sign the National Ceasefire Agreement (NCA) after a meeting with Suu Kyi and the military’s commander-in-chief, Senior General Min Aung Hlaing. While these two groups have not engaged in active fighting for years, many see this as a positive step in the delayed and stuttering peace process in Myanmar. Aung San Suu Kyi expressed her gratitude to the groups for “for helping in the enduring existence of the union, peace in the union and development based on peace”.
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