Official ADAPT 2030 Website (Keeping Your Families Reset Prepared)

Recent reform processes in Myanmar’s financial sector have created steps to develop a stock market somewhere around 2015. The insurance market has been liberalized, however, capital and insurance markets still play a minor role and the financial sector continues to be dominated by banks.

A look into Myanmar’s Insurance Sector, Microfinance Laws, Pawn Shops, Informal Financial Sector (otherwise known as loan sharks and shadow banking), State-owned Banks, Semi-governmental, Private Banks, Represented Foreign Banks, IBSB license and operating companies.

Myanmar’s Financial Sector, The Banking Environment 2014

Although Myanmar received the second lowest share of arrivals in ASEAN during 2012 (1.2%), annual growth was the highest in the region at 29.7%.

Myanmar’s international tourism receipts grew from US$165 million in 2008 to an estimated US$771 million in 2013. International visitor arrivals to Myanmar annual y-o-y increase is 6.6%, with arrivals nearing 2 million in 2013, it is forecast to climb to 7.5 million by 2020.

The Myanmar Tourism Vision states that “We intend to use tourism to provide more employment and greater business opportunities for all our people and to contribute to the conservation of our natural and cultural heritage.”

Myanmar Tourism Master Plan 2013-2020

Production : Approx. 780 MMSCFD (2012 ) with 586 MMSCFD exported to Thailand and 186 MMSCFD supplied to Myanmar.

Jointly Operated by: Total E&P Myanmar (France) 31.2%, Chevron (US) 28.3%, PTT-EP (Thailand) 25.5%, MOGE (Myanmar) 15%.

Project Revenue 1998-2009: PTT-EP ($826 million), Chevron ($910 million), Total ($1.2 billion)

Yadana Gas Pipeline Project: Maps, Revenue and Production Numbers

Export Gas Sales Agreement Yadana Gas Field (PDF)

Export Gas Transport Agreement Yadana Gas Field (PDF)

Production Sharing Contract Yadana Gas Field (PDF)

A list of 6 neighboring Yangon Townships: Thanlyin, Kyauktan, Hmawbi, Hlegu, Htantabin, Twantay and Related Laws & Regulations to consider if venturing into the construction business in Myanmar.

This list includes: The Transfer of Immoveable Property Restriction Act (1987), The Transfer of Property Act (1882), Farmland Law (2012), Myanmar Contract Act (1872) and the Urban Rent Control Act (1960).

A Snapshot of the Greater Yangon Development Project (2014-2040)

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 Myanmar Business Today as one of the best sources for business news, social events and information in countrywide. This publication is the one you want if you are doing business in Myanmar. 

Myanmar Business Today Feb 27- March 5, 2014 Edition

Myanmar Business Today March 6-12, 2014 Edition

BANKING SECTOR: Associated Laws, Associations, Domestic Banks, State-Owned Banks, Banking Products, International Banking Products, Deposits and Loans Share of Top 10 Banks in 2012-2013, Interest Rate for Loan and Deposit in Percentage.

FOREIGN EXCHANGE: Types of Foreign Exchange Licenses, Exchange Rate Average.

MICROFINANCE SECTOR: Associated Laws, Regulators, Microcredit Volume, Financial Products Suppliers, Relevant Licensing Rates,  Microfinance NGO Institutions.

INSURANCE SECTOR: Regulatory Body, Approved Local Insurance Providers, Types of Insurance Provided by Myanma Insurance, Types of Insurance Provided by Private Firms.

Banking & Financial Services Sector in Myanmar, November 2013

Trade Organization and Agreement, Preferential Tariff Schemes, Register as exporter/importer, License Fees, Restrictions on Export including Prohibited items, Restrictions on Import including Prohibited items.

Method of Payment, foreign currency account in state owned banks such as Myanmar Foreign Trade Bank or private banks with license for international banking Services

Restrictions for Foreign Companies operating in Myanmar, which by default require your firm to JV with a local entity. 

Understanding the Import & Export Payment System in Myanmar

The average time to enforce contracts and start a business in Myanmar is still very high. Myanmar has the highest minimum capital requirement in the East Asia and Pacific region. The cost of dealing with construction permits in Myanmar is the highest in the East Asia and Pacific Region. The cost of getting electricity in Myanmar is the highest in the East Asia and Pacific Region.

Old laws and regulations still apply in Myanmar, including the Companies Act of 1914, the Code of Civil Procedure of 1908 and the Evidence Act, 1872.

Doing Business: Regulations for SME’s in Myanmar 2014

6.7 percent of Myanmar’s population has landline and wireless Internet capable subscriptions.  Only 5.1 percent of the country's 60 million inhabitants, or 3.06 million, have mobile service and some subscriptions are shared.

Internet penetration is less than 1 percent subscription is approximately 2 percent, or 1.24 million subscriptions.

The average income in Myanmar is $80-90 per month. The cost of acquiring and activating an average smartphone is $563.11

Internet Access and Openness: Myanmar Facts and Figures

Directory has a complete list of UMTA members by their respective website addresses, from where information on detailed tour programs, highlights of tour sites and tour services could be found. Includes a comprehensive list of Active Members, Allied Members & Guides and Allied Members & Associate Members.

Publication  includes sections about Myanmar’s Traditions, Festival Calendar, Festivals in Myanmar, Naga New Year Festival, Ananda Pagoda Festival and maps of each region within the country.

Union of Myanmar Travel Association – Myanmar Travel Directory

Union of Myanmar Travel Association Home Page

Compared with other member countries of the Association of Southeast Asian Nations (ASEAN), Myanmar’s transport sector is considerably underdeveloped. For example, road density for ASEAN overall is about 11 km per 1,000 people, while Myanmar’s is about 2 km.

Since the late 1980s, Myanmar’s rail network has almost doubled from 1,976 km to 3,516 km; the number of bridges has doubled (to more than 11,000) and the number of tunnels has increased from zero to 12.

Myanmar Transport Sector Assessment (ADB)

A fully comprehensive Myanmar Regulatory Overview from DFDL.

Topics covered are Setting-Up a Business in Myanmar, Accounting/Financial Reporting for Companies, Myanmar Foreign Investment Law, Special Economic Zones, Compliance Requirements, Taxation and a range of other services offered by DFDL Myanmar’s Yangon office.  

Myanmar company set up requirements are complex and lengthy and requires a firm that knows the nuiances of government paperwork. From my own experience DFDL is such a firm.

The Tax Pocket Guide to Investing in Myanmar DFDL

On my last trip to Yangon on business I noticed a meteoric jump in the number of LED Advertising boards around town. Since Myanmar’s opening the country has leapfrogged to the world’s most energy efficient lighting systems and advertising medium.  

I have put together this powerpoint purely of LED Advertising lightboard images around Yangon. If you are going to do business in the country you should know which products are being advertised and if your firm can offer hardware/software that will move the advertising industry forward.

LED Advertising Boards in Yangon 2014 (15 Image PowerPoint)

Even though the publication is three years old there is an incredible amount of valid and timely information. Conditions have not changed greatly over the last 36 months except the cities, plus the images are worth a look themselves. 

Issue Features: Monywa and the Northwest Trade Route Sagaing Region, Steps Toward Rural Electrification and a Local Business Snapshot.

Union of Myanmar Federation of Chambers of Commerce and Industry Magazine Oct 2011

This article discusses the plan and construction of the Sino-Myanmar transport corridor and analyzes its implication from four dimensions: history, regional cooperation, China’s overall strategy and Yunnan’s perspective.

The corridor is one part of an ambitious scheme that will put the provincial capital of Kunming at the center of a regional free trade zone. It will not only further integrate two countries’ economy but combine both political and strategic interests. Thus, it contains India’s influence in Myanmar, and finally expands its strategic influence into Southeast Asia and the Indian Ocean.

China’s “Look South”: China-Myanmar Transport Corridor

Myanmar Population Density Map 2013

In an effort to keep up with the latest business and travel news coming out of Yangon in print form, I will begin to scan and upload publications that I pick up during my travels to Myanmar.

I found Yangon Travel Information Magazine as one of the best sources for dining, travel and events information in Yangon.

I picked up my copy in Monsoon Restaurant.

Yangon Travel Information Magazine September 2013