Bryan Cave Leighton Paisner (JD Supra Myanmar/Burma)

Further relief for Myanmar hotels - exemption on licence fees and deferment of land lease payments - The hotel and tourism sector in Myanmar and across the globe has been severely affected by the COVID-19 pandemic. Since 19 March 2020, Myanmar has closed all land borders with its neighbouring countries and from 31 March 2020 to 15 May 2020, all international commercial passenger flights are...

Myanmar Government introduced its economic relief plan which sets out the proposed actions to be undertaken and actions already effected by the Myanmar Government and the ministries. The economic relief plan is intended to be a living document and further details and revisions are expected over the coming weeks.

Further liberalisation of the Myanmar banking and financial services sector The Central Bank of Myanmar (“CBM”) is making significant strides towards opening up Myanmar’s banking and finance sector.  In the past few months, it has taken steps towards expanding the range of financing services that foreign banks could potentially offer and allowed foreign equity investment in local private banks.

Welcome to the latest edition of our Myanmar update for 2019. We have distilled the top news items into this summary 'speed read'. Further liberalisation of the Myanmar banking and financial services sector - The Central Bank of Myanmar (“CBM”) is making significant strides towards opening up Myanmar’s banking and finance sector.

The Myanmar Corporate Governance Scorecard 2018 was recently published as an assessment of the corporate governance practices of 24 Myanmar companies. It is published by the International Finance Corporation (IFC), in partnership with the Securities and Exchange Commission of Myanmar (SECM), Directorate of Investment and Company Administration (DICA) and the Yangon Stock Exchange (YSX).