Climate, Food, Economy
February 2, 2025
After hosting the World Economic Forum on East Asia and the Southeast Asian Games last year, Myanmar is confident that it can meet the challenge of chairing the Association of Southeast Nations.
The region of 600 million people isset to establish a common market and manufacturing base by 2015, to better compete with China and India. Average income growth per capita across ASEAN, from US$2267 to $3759, in 2012, five years after 2007’s ASEAN Economic Blueprint.
ADB forecasts Myanmar’s GDP growth to accelerate from 6.3% in FY2013 to 6.5% in FY2014.
Myanmar’s trade with the rest of the world is low; the total value of trade is less than 60.0% of GDP.
Maintaining macroeconomic stability—relatively low inflation and a stable exchange rate—has been a major challenge for Myanmar. Myanmar has experienced rapid inflation in the past 2 years in terms of housing, wages and utilities.
The corporate tax rate (25%) and personal income tax rates are at 20% for incomes over MK20 million a year (about $28,000 at the current market exchange rate).
How can a parallel set of institutional infrastructure designed to fill the gaps be implemented in rural locations and what improvements in livelihood will it provide upon completion, not only for local regions and farming communities but the Union of Myanmar as a whole?
Farmers’ organizations are very important institutional instruments that will drive rural development and create productivity along with income contribution in both rural and national development. OilSeedCrops Editor's Personal Article.
Myanmar Population and Urbanization Growth Rates were presented at the 2014 Myanmar Infrastructure Summit; noting that even with rural ecomomic strategies to boost rural residents incomes, urbanization will continue. Mechanization in farming communities will also send more people in search of work in the countrys major cities.
Myanmar Population Growth Rate 1.1%
Myanmar Urbanization Rate 3.3%
In an effort to keep up with the latest business and travel news coming out of Yangon in print form, I have scanned and uploaded publications that I pick up during my travels to Myanmar.
I found Today Magazine to be a quality resource for social trends and information in countrywide. This publication is the one you want if you traveling or coming for business in Myanmar.
Mangrove Rhizophora trees grow in Myanmar’s coastal regions and are known as (“byuchidauk”). Mangrove wood is not used as timber, but it is used for walling and flooring in Myanmar.
Studies show that 30-40% of total Primary mangrove forest areas may be allowed for aquaculture purposes and dedicated for forestry purposes or as game sanctuaries or source of timber.
The term of lease is usually 30 years for foreign investors and can be passed through in accordance with the pre-agreed terms and conditions.
A glance at the new 2014 Revenue, Income Tax and Commercial Tax Law percentage increases and 2013 foreign investment laws which have not changed after 12 months. Personal Income Tax (PIT), income bands and rates have been adjusted with the top rate increasing from 20 percent to 25 percent.
Corporate Income Tax (CIT), the same rate of 25 percent applies however, newly setup small and medium enterprises (SMEs) will have three year tax breaks, or until revenues reach in excess of MMK 5 million (US$ 5,000).
Commercial Tax (CT) applies to all services unless those that are specifically exempted, for example life insurance services, banking services and education services which is a reverse of the previous rule, where CT was not applied unless specifically stated.
A-1 and A-3 offshore gas fields Rakhine State; Yadana offshore gas project M-5 and M-6 offshore blocks Mottama Gulf; Yetagun offshore gas project M-12, M-13, M-14 offshore blocks, Mottama Gulf; Nyaungdon onshore gas field (54.4km) northwest of Yangon; Apyauk onshore gas field Taikgyi and Zalun townships in Yangon division.
Shwepyitha & Myanaung oil and gas fields Myanaung township, Ayeyarwady Division; Pyitaung Tan oilfield Shwetaung township Bago Division; Kanni & Htaukshabin oilfields Minbu SaKu township, Magwe Division; Letpando & Thargyitaung oilfields Pauk township, Magwe Division; Yenangyaung oilfield Magwe Division.
Oil and Gas Fields in Myanmar by Production Level, Location and Operator
Overview of the Dry Lake Solar Energy Zone, Gold Butte Area, Clark County, Nevada funded by China's ENN Group. Proposed Mitigation Actions and Locations findings: Gold Butte ACEC is preliminarily recommended as the best recipient location for regional mitigation from the Dry Lake SEZ.
Rory Reid, the eldest son of Senate Majority Leader Harry Reid (D-Nev.), is chief consul representing Lionel Sawyer & Collins for Chinese firm ENN Energy Group which will invest up to $5-billion to build a solar plant on public land in Laughlin, Nevada.
Due to the fact that China exerts so much power over so many trading partners there are no embassies in Taipei, but rather trade offices of various nations that act as de-facto embassies. This list is a comprehensive listing of current April 2014 contact numbers.
Additionally, if you wish to find business contacts and import/export leads for the individual countries listed, this is a good place to start. One stop biz shop if you will for trade leads and government connections.
Trade Offices, Institutes & Contact Telephone Numbers Taipei, Taiwan
A list of 56 INGO’s operating in Myanmar along with contact telephone numbers, emails and addresses of head Myanmar offices.
Also supplied is Background Information on the organization, vision/mission, and target objective.
A section of each INGO page details Main Program/Activities within Myanmar.
Directory of International Non-Governmental Organizations in Myanmar
A development prospects for the economy, balancing economic growth with environmental sustainability, proposed by internal Myanmar ministries and the Asian Development Bank (ADB).
External Trade, Economic Growth Trajectory, Human Resources Development
Gross Domestic Investment, GMS Social Indicators, Regional Connectivity, Institutional Connectivity
Economic Growth and Development in Myanmar, Strategies and Plans 2011-2020
Description about ecosystems, habitats and species in Myanmar including the indication on species status as being endemic, threatened or invasive.
Myanmar Agenda 21 was developed in 1997 and was a collaborative effort made by various government agencies including the National Commission for Environmental Affairs in order to form the National Land Commission to steer a process of sustainable land use management.
National Biodiversity Strategy and Action Plan: Myanmar Agenda 21
Report includes: Strategic connectivity to key regional markets, Current economic structure, Recent Political and Economic, Developments, Political reforms, Economic reforms
Singapore-Myanmar Bilateral Ties, Growing trade volumes, Singapore companies in Myanmar, Singapore companies pursuing megaprojects in Myanmar
Opportunities in Myanmar: Manufacturing and industrial development, Ports and logistics, Urban development, Hospitality, Oil and gas, Power, Consumerism.
In an effort to keep up with the latest business and travel news coming out of Yangon in print form, I have scanned and uploaded publications that I pick up during my travels to Myanmar.
I found Today Magazine to be a quality resource for social trends and information in countrywide. This publication is the one you want if you traveling or coming for business in Myanmar.
– Air Transport: Myanmar is presently using 33 airports out of its 69 airports.
– Maritime Transport: Yangon Port handles about 90% of seaborne trade of the country.
– Road Transport: Paved Roads 33014km, Express Ways 666.36km
– Rail Transport: Total Route Length – 5844.03 Km. (Single Truck – 5143.21 Km, Double Truck – 700.82 Km)
Also an overview of Myanmar’s Future Development Plans and an Organizational Chart of the Ministry of Transport.
Petrol Prices March 2014 in Yangon, Myanmar
** Premium Diesel 990K
** Diesel 950K
** 95 Octane 930K
All prices in Kyat and Liters.
Exchange Rate ($1= 980K) March 2014
Segments covered include: Economic prospects, Major investors in Myanmar, Conducting business in Myanmar, Forms of business Foreign investment restrictions, Accounting and audit regulations in Myanmar, Statutory requirements, Taxation in Myanmar, Corporate income tax, Personal income tax, Commercial tax.
Labor laws in Myanmar, Commercial registration and licensing requirements, Foreign ownership of land and property, Arbitration law, Foreign exchange rates, Interest rates, Demographics, Political system and governance structure.
In late 2013, Myanmar’s Cooperatives Minister announced a dramatic expansion of the country’s portfolio of village-based financial institutions otherwise known as the cooperative credit system.
Funded partially by a $100 million loan from the Export-Import Bank of China, the declared intention is to extend cooperative credit institutions into each of Myanmar’s 60,000 villages.
Cooperatives in Myanmar have had troubles in the past. Established initially by the British colonial authorities to dilute the dominance of the Chettiar moneylenders, as well as to curry favor with the local populace, the first collapse occurred in the 1920s.
After reading that there would be an offering by Myanmar Thilawa SEZ Holdings Public Ltd offering $21 million worth of shares for sale through several banks in Yangon at $10 per share I asked my assistant to accompany me to see if we could buy any. We stopped by the Ayeyarwady Bank, Yoma Bank and Kanbawza Bank.
The news release published in local media stated there would be 2.1 million shares available which generated excitement the country. That news story placement was for the "appearance" of a tender system. What we were told was that the sales were wrapped up before they started within certain networks.
Zero shares ever circulated in any bank to the public, all sales were in-house among those with the proper connections. When we asked at the three mentioned banks we were met with blank stares and finally told by a reliable person that none of the banks received or will receive their supposed allotment.
Myanmar Business Today April 27, 2014 Edition with Thilawa Share Story