Myanmar’s union government has increased the country’s daily minimum wage for an eight-hour work day from Kyat 3,600 (US$2.65) to Kyat 4,800 (US$3.54). The wage increase is the first since Myanmar introduced a minimum wage as part of the government’s labor market reforms in 2015.
Myanmar recently permitted export-financing services by seven of 13 foreign banks operating in the country. In this article, we provide insight into Myanmar’s banking reforms and investment opportunities in the sector.
Myanmar is among the fastest growing economies in Southeast Asia with significant market potential for the growth and expansion of foreign companies. Read more about Myanmar’s latest FDI trends and outlook for 2018 in our latest article.
On December 6, 2017, Myanmar’s President U Htin Kyaw approved the new Myanmar Companies Act, 2017, replacing the country’s century-old Companies Act of 1914. The new law seeks to modernize corporate governance in Myanmar in line with international best practices. Read more in our latest article.
India’s Prime Minister Narendra Modi paid an official visit to Myanmar between September 5 and 6. Relations between the two countries are multifaceted, with both sides sharing key concerns over maritime security and other transnational issues.
In this week’s ASEAN Regulatory Brief, we highlight Myanmar’s Special Commodity Tax exemptions for emeralds and diamonds, discuss Thailand’s reduced VAT rate extension, and focus on Indonesia’s proposed luxury tax cuts for sedans.
In this week’s ASEAN Regulatory Brief, we highlight Laos’ incentives for tourism sector investors, discuss Brunei’s latest Halal regulations, and focus on the lifting of the livestock export ban in Myanmar.
In this week’s ASEAN Regulatory Brief, we analyze Malaysia’s latest GST waiver for certain goods and services, discuss Thailand’s new decree to regulate foreign workers, and highlight the ten priority FDI sectors identified by Myanmar for preferential treatment.
In this week’s ASEAN Regulatory Brief, we focus on Myanmar’s recent decision to open several new sectors to trading by foreign companies, discuss Thailand’s new excise tax rates for electric vehicles, and highlight Cambodia’s new regulations for its fintech sector.
In this week’s ASEAN Market Watch, we discuss Malaysia’s positive growth outlook for 2017, analyze Japanese investors’ interest in Thailand’s Eastern Economic Corridor, and highlight Singapore’s bid to boost its economic ties with Myanmar.