With US$456 million invested in Myanmar last year alone, Singapore plays a substantial role in funding the junta’s abuses, be it by producing oil or paying it hard cash.
This allows OCBC Bank to offer a full range of banking products and services to foreign companies and joint ventures, as well as domestic banks in Myanmar. OCBC Bank now has up to 12 months to prepare for the planned opening of its new branch in Yangon. Said Mr Linus Goh, OCBC Bank’...
Foreign insurance companies setting up business in special economic zones in Myanmar must show at least US$1 billion in capital funding, the Insurance Business Supervisory Board (IBSB) has announced.
CDATA[Foreign companies to bid for Myanmar licence.Foreign company will be a minority shareholder in a joint venture with a consortium of 11 local companiesStubbsAgnesGlobal Telecoms Business
The foreign bank branches are also allowed to lend money to local companies through local banks or to lend a syndicated loan to local companies in cooperation with local banks. There are also 25 local private banks and four state- owned banks in the country at present. Meanwhile, Myanmar has...
The Myanmar government is planning to open the country’s fledgling insurance industry to foreign companies next year as well as loosen restrictions for local players. Work has already begun on a “liberalisation roadmap” that needs to be presented to the government in December, ...
“internal residents” from abroad into Myanmar kyats within one working day, subject to exclusions. “Internal residents” includes locally registered companies, organisations, and offices, as well as Myanmar branches of foreign companies, and individuals residing or established in Myanmar for at least...
Over the last decade, Myanmar's economy has grown at an average of 7 percent a year. But in light of the military take over as well as the pandemic, most analysts have slashed its growth forecast to 2 percent for 2021. The real economic impact, however, will only be clear once the ...
"The planned offshore supply base would reduce the travelling time for oil and gas companies withMyanmaroperations, which would otherwise have to travel toSingaporeorThailand," said Mr.Leonard Oh, Executive Chairman of MOSB. MOSB is committed to the growth ofMyanmara...
The new Myanmar Companies Law, which was enforced on Aug. 1, 2018, provides tax exemption and relief to investors depending on the development of the regions and states, allowing investors in far-flung areas to enjoy tax breaks of up to seven years....