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

Myanmar to allow 13 Foreign Banks to Offer Import Financing Services

Only trade financing was previously allowed for foreign lenders. Myanmar is steadily making headway in opening up its financial services sector after the central bank gave clearance to 13 foreign banks seeking to provide import financing services, reports The Myanmar Times. “We will give priority to 13 existing permitted banks by allowing them to expand their services to include import financing,” Central Bank of Myanmar ("CBM") director general U Win Thaw told TMT, adding that foreign lenders can now provide the full suite of trade financing services. Import financing will also facilitate trade and maintain the price of imported products…

Launching Ceremony of the Myanmar Companies Law (2017) and electronic registry (MyCO) was held

The first day of August 2018, the effective date of the Myanmar Companies Law, will be a remarkable day that will bring landmark reform and a game changer for the Myanmar's business environment. The Myanmar Companies Law, a regulatory foundation for companies and private sector economic enterprises, and Electronic Registry system (MyCO) were launched simultaneously on 31 July 2018 at Melia hotel in Yangon for the smooth running of companies. Around 200 people attended the ceremony including officials from Directorate of Investment and Company Administration, representatives from government departments, development partners, local and foreign investors from private sectors, legal consultants…

Myanmar to Allow Foreign Investors to Trade on YSX

In early July, the government issued a statement allowing Myanmar's Yangon Stock Exchange (YSX), to be open up to foreign investors who are living in Myanmar. These investors who will be able to take up to 35 percent shares in local companies, as well as to trade at the YSX will be able to do so starting from the 1st of August. This change will lift all previous barriers between Myanmar and other foreign investors. The online trading system, on YSX has been recently introduced to attract more investors in the country's stock market, as well as to promote stock…