What’s on – Hong Kong Macau and Myanmar Chamber of Commerce & Industry

Myanmar is keen on Belt and Road Initiative (BRI)

Myanmar has been part of the Belt and Road Initiative (BRI) development strategy since its adoption by the Chinese government and it is willing to continue participating in beneficial projects, State Counsellor Daw Aung San Suu Kyi said on 24 April 2019. The state counsellor made the remark in a meeting with China’s President Xi Jinping, according to Voice of America’s Myanmar service. President Xi said he desired the strengthening of mutually beneficial cooperation with Myanmar within the BRI framework. According to a statement from the Office of the State Counsellor, the heads of state also discussed the acceleration of…

Five Overseas Life Insurance Businesses Granted Myanmar National Operating Licences

Five overseas-owned life insurance businesses have been granted provisional licences to provide insurance services in Myanmar. The five insurers – Prudential plc of the UK, Dai-ichi Life Holdings of Japan, Manulife of Canada, AIA of Hong Kong, and Chubb of the US – are expected to begin operating by the end of 2019. Under the terms specified by the Ministry of Planning and Finance, the five companies will be required to submit an irrevocable and unconditional proposal bond of US$400,000 by 26 April in line with the conditions agreed in their initial applications. In addition, any insurance companies that failed…

Yangon’s One-Stop Service Centre is now opened for Overseas Investors

A One Stop Service (OSS) centre, designed to meet the needs of overseas investors, has been launched in Yangon. The Centre is operated under the auspices of the Directorate of Investment and Company Administration (DICA), the centre will facilitate the submission of applications for various investment-related services, including requests for import or export licences, tax registration, visas and work permits. In addition, potential investors in the Yangon region will be able to apply for a number of investment clearances and government permits via the OSS’ single-window service. These include administrative permissions that fall within the remit of the Yangon Electricity…