Myanmar Department of Civil Aviation supports public-private agreements to develop airports.
11 Nov

Myanmar Department of Civil Aviation supports public-private agreements to develop airports.

The Department of Civil Aviation Myanmar (DCA), the government agency operating under The Ministry of Transport, is planning to obtain approval for public-private invested upgrades for airports across Myanmar. This will be for operations management, renovation and development of the facilities. This is important news as :-

1) Redevelopment of airports’ operations demands a huge range of skills and technologies.
2) Projects would be under public-private partnership agreements, (PPP).
3) The Myanmar Government is now encouraging PPP agreements.

In the past, when compared to other ASEAN countries, Myanmar was seen as being rather restrictive in terms of PPP policies. There had been some developments under the National Comprehensive Development Plan. But there were no definable PPP laws or a government agency. No guidelines existed for PPP projects that could cover ports and airports, toll roads, inter-city and urban rail transport, water resources, telecommunications and communications. This has now changed. There are now clear government policies and guidelines for PPP agreements. The projects are usually long term and high value.

You may have seen our previous blogs reporting on growth in the Myanmar construction sector, following the on-going reforms in Myanmar. Now airports across Myanmar are in the spotlight with opportunities for funding by private capital sources. Myanmar has 25 operating airports with commercial flights. Following development it is envisaged that some regional airports will also be upgraded to receive international flights.

In the years prior to Myanmar’s independence the task to provide civil aviation for Myanmar was granted to the British Overseas Airways Corporation (BOAC). Then, following independence on 4 January 1948, changes started allowing for the development of Myanmar’s own civil aviation services. The authorisation of PPP agreements for all the airports across Myanmar will provide enormous opportunities.

One example of a PPP agreement in operation is the new Hanthawaddy International Airport, which will be operational by Autumn 2019. The total project will be completed in 2022 making Hanthawaddy International the premier gateway for entry into Myanmar. The consortium won the tender in October 2014. This privately operated airport is designed for a handling capacity of initially 12 million passengers, growing to 30 million and has a budget of US $ 1.5 billion.

FocusCore opened in 2014 and is working in this rapidly growing economy. We help companies become established here. The potential budgets in PPP agreement are very substantial*. We are here so you can focus on your business and rapidly open your company in Myanmar.

*Reports indicate that infrastructure spend required to support Myanmar forecast growth of 8% per year up to 2030 is estimated to be US $ 320 billion, including 60% of the investment required for residential and commercial real estate; Power generation US $ 66.6 billion; Transport infrastructure US $ 40 billion.

Record levels of foreign investment in Myanmar – why is this now important for your company?
08 Nov

Record levels of foreign investment in Myanmar – why is this now important for your company?

Foreign Direct Investment has a catalytic effect on a country, which can trigger a sooner than expected demand for products and services. We have listed here many of the changes, results and reforms that are transforming Myanmar with links to many of our blogs on these subjects. This is the time you should call us to discuss where, when and how you enter Myanmar.

The order by President Obama to lift the economic and financial sanctions has driven up the pace of development in Myanmar with levels of foreign investment that have surpassed all previous figures.

The widely publicised political and economic reforms in Myanmar have steadily encouraged more foreign direct investment, FDI.

The economic growth forecasts for Myanmar show levels that lead the world with 8.4 percent GDP for this year. Now, with the news regarding US sanctions being lifted, even higher levels of foreign investment are forecast, with estimates of over US $ 9 billion. In 2003 the figure was US $ 3 billion. (See our blog on US Sanctions removed).

Why is FDI potentially important for your company, even if you are not yet in Myanmar?

FDI is key for Myanmar and indeed for any developing economy. It reduces the economic gaps between countries. It allows growth that is faster than normal due to investment from international companies. This acts as a catalyst. For example, the huge growth in mobile Internet access has led to demand for technical products much quicker than expected, with rapid positioning for market share. This followed the rapid construction of a new larger telecommunications infrastructure. (See our blog on Telecommunications).

There have also been announcements supporting public private joint venture partnerships, PPP, for all airports across Myanmar. The list of projects and developments is extensive. They provide demands for a very wide range of skills, products and services. Your company could now be vital!

A key role for FocusCore is to help companies start in Myanmar. The trend for overseas investment is now exceeding all expectations. The trend is gaining even more momentum as the Government of Myanmar continues to make more constitutional, legal and tax reforms. Whether for public-private partnerships (PPP) or new companies that via The new Foreign Investment Law can soon be 100 percent owned by the foreign investors. This is in addition to the planned New Company Act, that will update governance regulations and encourage investment via The Yangon Stock Exchange. (See our blog on the new Foreign Investment Law).

There are incentives for Special Economic Zones, policies to encourage exports, and tax benefits for a wide range of activities including manufacturing and real estate. Investors who have not hesitated have seen good returns. Already, some investors have realised spectacular profits for land purchase and construction projects.

The geographic position of Myanmar is becoming increasingly important as transport and logistics improve. Our recent blog reported on the huge markets that adjoin Myanmar. These countries also have an expanding consumer base, albeit not in an economy with 8.4 percent growth, but they all offer huge markets for product and services from Myanmar.

The growth in Myanmar was steadily increasing even before the removal of sanctions. This has been clearly visible with the increasing number of companies arriving in Myanmar from overseas, adding to those from the APAC region. China has been the main investor region, with investment figures of over US $ 3 billion. Now this lead position has changed and is surpassed by funds arriving via Singapore totalling over US $ 4 billion. (See our blog on Singapore being the N°1 investor in Myanmar).

Major global brand names from the USA and other countries already have manufacturing plants in Myanmar. Their operations will now be much easier, post sanctions. Why? The lifting of sanctions is more than just a filter on some trading. It means much more. Restrictions on banking have been removed allowing US Banks to be actively involved with groups of companies from many countries.

Japan has already been very active with major projects in Myanmar. (See our blog on The Japan International Agency). There is also activity from European companies – all these investing companies are seeing an economic environment in Myanmar that presents enormous long term potential.

Bookmark our blog pages here so you can keep ahead of the curve.

Contact us now to discuss how you can start your company operations in Myanmar.

Singapore is now the largest investor in Myanmar.
17 Oct

Singapore is now the largest investor in Myanmar.

Recent figures released show that Singapore has overtaken China as the top investor in Myanmar. The figures include indirect investment from America and European Union Countries. Now Singapore has 55% of the total foreign direct investment and over $519 million. Why?

One has to look back and recognise the ASEAN Agreement. Under Article 1 of the Agreement the objectives are to create a free and open investment regime in the ASEAN Member States*. An integrated investment area, maintaining preferential treatment among Member States, creating a transparent investment environment in ASEAN. In other words, scrutiny on investments from non ASEAN sources.

Then there is the matter of controls on investment into Myanmar introduced by the USA. Many of these controls are being released but all these matters together demanded solutions, in order to get investment funds into Myanmar. Singapore provides the route, as an ASEAN country, authorised to invest in accordance with the ASEAN Agreement.

There are plenty of incentives. For 2016, financial forecasts from the IMF see Myanmar as the fastest growing economy, with growth of 8.6 percent. Still in a phase of development, with rapid change and huge opportunities, Myanmar is clearly attracting growing foreign direct investment (FDI) within ASEAN and further afield. The ongoing economic reforms are continually encouraging this growth.

You may have seen our previous blog on The New Investment law, so expect investment levels to continue to rise further. It has never been easier nor more lucrative to invest in Myanmar.

FocusCore opened in Myanmar to facilitate exactly this process – to help you launch your company in Myanmar. We can help you through the processes for your company establishment, Visa and Work Permits applications, to office facilities and to provide legal and bookkeeping services.

Contact us now for more details on the sectors benefiting from this growth in investments and the special economic zones.

*The Governments of Brunei Darussalam, the Kingdom of Cambodia, the Republic of Indonesia, the Lao People’s Democratic Republic, Malaysia, the Union of Myanmar, the Republic of the Philippines, the Republic of Singapore, the Kingdom of Thailand and the Socialist Republic of Viet Nam, Member States of the Association of Southeast Asian Nations (“ASEAN”).

USA investment sanctions on Myanmar removed
17 Oct

USA investment sanctions on Myanmar removed

On September 14, President Obama met with State Counsellor Daw Aung San Suu Kyi and announced plans to lift U.S. sanctions on Myanmar. The announcement is a major and historic step forwards for Myanmar.

The three page Executive Order was issued by The White House. American sanctions had been authorised under what was known as the National Emergencies Act – note that this was introduced in May 1997. This is a major change and huge plus for Myanmar.

“By the authority vested in me as President by the Constitution and the laws of the United States of America…….I hereby determine and certify that it is in the national interest of the United States to waive, and hereby waive, the sanctions…….. This order is effective at 1:00 p.m. eastern daylight time on October 7, 2016.
“It is the right thing to do in order to ensure that the people of Burma see rewards from a new way of doing business and a new government” President Obama.

“We think that the time has now come to remove all the sanctions that hurt us economically, because our country is in a position to open up to those who are interested in taking part in our economic enterprises. We would like to invite all of you to come to see our country, to see why you should invest there, and see how you can invest there in such a way that you will benefit from it as much as we can.” Daw Aung San Suu Kyi. She added that economic development was essential to bring peace to the country. “Unity also needs prosperity, because people, when they have to fight over limited resources, forget that standing together is important…We want to make sure that our people are better off materially in order to strengthen our political initiative.”

Clearly The Government in Myanmar seeks and will now benefit from investments from the USA. The sanctions had been designed to block individuals and companies. The speed and scope of the changes have surprised some observers. Some sanctions had been lifted in 2012 and US firm GE quickly established a presence in Myanmar (see below, GE’s view on Myanmar). Now there is a level playing field for investors and this will be especially helpful for small and medium sized companies in Myanmar. American companies also benefit as they now have a wider choice of business partners in Myanmar.

You may have seen our recent blog that reports on Singapore as now the premier investor over the historic funding source leader, China. The removal of these sanctions will further bolster investments from countries in addition to China and also broaden the range of companies to whom funding will be available. There was a pattern of Government projects being funded by China. Now with a much broader range of funding sources more projects will emerge for funding within commercial sectors.

The 2016 IMF financial forecast for Myanmar growth of 8.6%, the fastest growing economy, has already been attracting investors. Now, it is hard to think of any other one change that could do more to ramp up further the speed of economic growth in Myanmar.

This really is a huge step and improvement for Myanmar and must surely remove any vestiges of hesitation for any firm viewing Myanmar’s lucrative economic future.

This is exactly the forecast we had planned and hoped for when FocusCore opened in Myanmar in February 2014. Legal and tax reforms have continued to enhance growth, forecasts and results. Our objectives, to help companies start their business operations in Myanmar and offer our full range of specialist and corporate support services will now also be able to assist more direct investments from the USA.

*In the words of GE (General Electric) “Myanmar is the new sweet spot for growth in ASEAN…” (Association of Southeast Asian Nations).

Contact us now to fast track your planning and benefit from our knowledge base of laws, regulations and procedures in Myanmar.

Myanmar Business Visa’s explained
02 Sep

Myanmar Business Visa’s explained

Any Foreign National who wishes to enter Myanmar, must obtain a visa unless he or she is a citizen of one of the eligible visa exempt countries (see below). All visitors must hold a passport valid for at least 6 months.

Registration for Foreign Nationals & Long Term Stay Permits

Myanmar law decrees that a foreigner wishing to live in Myanmar long term, must apply for a Foreigner’s Registration Certificate and Long Term Stay Permit. Long term is defined as over 90 days.

Without these documents a foreign national must leave Myanmar after a period of 70 days. This is also detailed in the rules applicable to holders of a business visa.

There are exceptions. For example, if the foreign national is from one of the following countries, they do not need to hold a visa: Brunei, Cambodia, Indonesia, Laos, Vietnam, Thailand and the Philippines. A visa free agreement on 30 days has been signed with Singapore and will come into force on 1st December 2016. There are also some eligible exceptions for some diplomatic and official service passport holders.

There are eVisas for tourists applicable when the visitors are from certain countries. An eVisa allows a visit of up to 28 days. The eVisa is valid for a period of 3 months.

For our business clients we cover the application process for non tourist ‘reason for stay’ purposes. For business eVisa applications you must be a citizen of eligible countries which include:-

All ASEAN citizens.
All European Union citizens – this currently includes all classes of British nationality.
Australia, Canada, China, India, Israel, Japan, North Korea, South Korea, Nepal, New Zealand, Norway, Switzerland, Taiwan, United States.

For standard visas, foreign nationals have benefited from changes of the regulations that came into force during January 2016. These apply to all forms of visa.

An entry visa is available for applicants from government agencies planning official visits, requiring a letter of invitation from the Ministry concerned of the Myanmar Republic of the Union of Myanmar.

Social visits, Meditation visits, are not our domain but these require invitations from the monastery hosting the visitor.

Business Visa

For business organisations that have establishments in Myanmar or for an applicant proposing to create a business (a prime support role of FocusCore) the business visa is required.

Multiple Journey Entry Visa

For official visits and also for commercial, business purposes for entry into Myanmar.

Diplomatic Visa

Applicable to government officials. Issued by the Ministry of Foreign Affairs.

FocusCore reminds applicants that applications via post are not accepted. Please contact us to facilitate your application.

There are three types of re-entry visas.

1.) Multiple journey special re-entry visa for up to one year

2.) Special re-entry visa or single re-entry visa

3.) Re-entry visa for foreigners entitled to reside in Myanmar.

Applications must be sent to the Foreign Affairs section of the Ministry of Immigration and Population. Naturally we follow this course for our clients.

An application for the Foreigner’s Registration Certificate and the Long Term Stay Permit can be submitted at the same time. The Long Term Stay Permit can be issued for three or six months prior to a one-year permit being authorised.

The following documents are required:-

(Your dedicated contact in FocusCore will require these documents, to forward on your behalf).

Myanmar employer details
Incorporation Certificate
Trade Permit (Form I)
Form VI and Form XXVI (applicable only to Private Limited Companies)
Form XVIII (applicable only to Branches)
Bank account statement
Form E (may not be required, depending on specific case details)
MIC Permit (if applicable), with details of the number of proposed staff and a list of foreign employees currently in the company.

The following may be required according to your details:-

Import/Export certificate
UMFCCI member certificate
Endorsement letter of the Industrial Zone License
Memorandum of Understanding or licence issued by a Ministry with copies of the applicant’s details as follows: –

Passport ID page
Myanmar visa and arrival stamp
Nine identical passport photographs taken within the last six months
A signed CV /professional resumé
Employment contract
Endorsement letter from the applicant’s embassy in Myanmar. We can also facilitate this for you.
Two of your business cards clearly stating your job title
Your Marriage and/or birth certificates and for your dependents
Residence letter, landlord’s National Registration Card (copy), landlord’s family list and lease contract
Endorsement letter from the area Ward Administration Office

Upon receipt FocusCore will complete the necessary steps, and produce the required forms duly completed together with accompanying letters as required.

These include:-

An authorisation letter
Letter in English and Myanmar for the appropriate Ministry
Letter in English and Myanmar for the Immigration and National Registration Department
Letter in English and Myanmar for corresponding township immigration officer
A Foreigner’s Registration Certificate application form
Immigration and National Registration Department form

Action when you arrive in Myanmar

It is important you remember as soon as you arrive in Myanmar, to apply without delay for the Foreigner’s Registration Certificate and Long Term Stay Permit. If we are acting for you please advise us of any change in your travel details and dates. Forms requiring your signature and of your employer will be prepared for you.

The document sets will be prepared with appropriate accompanying letters for each government ministry as required. The process will also cover the request for your Foreigner’s Registration Certificate. Once these are issued we will collect them for you and arrange a further meeting with you again.

Time needed for your application

You should allow four or five weeks for the process to complete. Upon receipt of the Long Term Stay Permit you do not need to depart from Myanmar by each calendar 70th day and can remain for a duration as stated by your permit.

Usually this is three months. Later and before the Long Term Stay Permit expiration date we can request an extension to the time period for you.

Further renewals normally attract validity for 6 months and thereafter for the third application 12 months.

Once the certificate and permit have been issued the Township Immigration Department relating to your location, they will have copies on file.

Change of your details – action required

Please note you should contact us or the appropriate Immigration Department within 72 hours and provide them with the duly filled form, an original and copy of your passport, FRC a copy and original, your arrival date, and letter of recommendation from the state or regional offices.

You can also register your children, this is to say minors, as under 18 they do not need to apply for a
Foreigner’s Registration Certificate in their own names but their names must be added to their parents Foreigner’s Registration Certificate. Children under 18 years and over 12 must apply with a Form AA.

This is added to the application form signed by the parents, Passport page with details, Myanmar visa and arrival stamp, four identical passport pictures taken within the last 6 months and the original receipt of your application fee.

Charges

Initial Application – Applicant
US$ 800 plus US$ 45 fees

Initial Application – Dependant
US$ 425 plus US$ 45 fees

Guest Resident Report
US$ 500 plus fees which can vary

Renewal (Applicant)
US$ 800 plus US$ 45 fees

Renewal (Dependant)
US$ 425 plus US$ 45 fees

FocusCore at your side in Myanmar

We look forward to working for you and obtaining the permits and visas that are required. This is part of our wide range of corporate support, recruitment, advisory and company start up services.

Focus Core established in Myanmar

We opened our Myanmar offices in February 2014. We have the benefit of both local nationals and international members of staff, to provide world class services with local knowledge. We are processing applications every day for companies.

We are experts

This process may probably be the first endeavour into Myanmar for you. We recognise your competences to run and steer your company. By using our services you have the time to focus on what you do best, in the knowledge that we can provide you with the tried and tested route forward, and readily comply with national laws and compliance guidelines.

Vital First Steps into Myanmar

We recognise that these initial steps are vital for you, not only to maintain your corporate start in line with the law but also to save time and costs. It is a complex process and if not completed correctly, is liable to adds real costs and invisible costs of delays to your opening date, damaging your business launch and revenues.

International Offices of FocusCore

FocusCore operates across many countries with offices in Japan, Hong Kong, Singapore. Not only do we provide administration services but also legal, bookkeeping, fully serviced office space, so providing a one stop shop covering virtually all you need to start and operate in Myanmar.

Multiple services from FocusCore – not only visa applications

Due to our efficient inter-team networks the sum of all the services is greater than their total. By being in the same group, our focus is to provide you with the best services. You do not need to meet, arrange, review, update multiple service suppliers in order to receive these various services.

Dedicated Account Director – International branch network

You are also allocated an account Director whose role is also to supervise progress and service levels across all fields of service delivery to you.

Don’t forget that by having offices overseas we may be able to facilitate leveraged benefits, for example financial services in Singapore.

Myanmar – new products to be exempt of import licences
01 Sep

Myanmar – new products to be exempt of import licences

The Ministry of Commerce has announced an updated list of products, which will no longer require an import licence from 1 September. This is good news for importers and Myanmar and a further sign of the more open approach, which is boosting trade across the country. Commentators are confident further products will be added to the exempt list in the near future.

Reuters confirm, “Myanmar imported more than $16 billion of goods in fiscal 2014/15…..The semi-civilian government in office since then has implemented sweeping political and economic reforms and, in recognition, the European Union, Australia, the United States and other countries have lifted or eased sanctions, opening the door to the global economy”.

They also quote a Ministry official saying “It’s impossible to cut down exports with the speedily growing market economy and speedily rising living standards….Capital goods such as construction materials for infrastructure projects accounted for about 40 percent of imports, while fuel made up 30 percent and consumer goods 20 percent”.

We make no apology in repeating the words we have published before – the economy is thriving and more companies should enter Myanmar and benefit from the growth as soon as possible. This is the reason FocusCore opened in Myanmar, to help you get established here.

Contact us for more details. Clearly, these changes relate to products that are deemed necessary to fuel the growth of the economy in Myanmar and not harm local producers and manufacturers. There is a strong demand and your company could be supplying Myanmar.

Retail giant ÆON Co., Ltd. announces a joint venture company in Myanmar.
20 Aug

Retail giant ÆON Co., Ltd. announces a joint venture company in Myanmar.

Earlier this year in April, ÆON Co. Ltd., the largest retailer in Asia and Creation Myanmar Group of Companies Limited (CMGC) formed Aeon Orange Co., Ltd.

Aeon Orange acquired assets including 14 supermarkets operated by Hypermart Asia Co., Ltd. which is one of the affiliate companies of CMGC.

This is a huge vote of confidence in Myanmar and even more positive inertia arriving in Myanmar via this joint venture because……

ÆON was founded in 1758, 258 years ago. Globally in 2012 their total net income was ¥74,697 million, with total assets of ¥5,725,862 million and 360,000+ employees (2013).

FocusCore has in all our blogs since early 2014, repeatedly reported on the growth and economic potential in Myanmar. ÆON, in their press release stated:-

“Followed by the economic liberalization after transition to the civilian government, the modernization of retail industry has proceeded, while the middle-class population has been on the increase in Myanmar. With the population of 53 million people, the real economic growth rate in the country (Myanmar) is 8.3%* which is the dramatic growth, exceeding the average growth rate among five developed nations in ASEAN countries in which further economic growth is expected accompanied by the integration within the region. Myanmar continues to grow in a speedy manner.

CMGC is a Group company which operates 14 supermarkets, mainly in Yangon, and has over 20 overseas brand sales licenses including Adidas and MANGO operating approximately 130 stores under Specialty Store Business, and also a real estate business.

In 2012 ÆON established Aeon Microfinance (Myanmar) Co., Ltd., and since 2013 has been operating a consumer finance business. In 2014, Aeon established a representative office, and started research on the potential for developing retail businesses in Myanmar. The results are now appearing. ÆON, Japan’s single-largest shopping mall developer and operator, will via Aeon Orange open its first supermarket later this year in Myanmar.

If you still have any doubts about Myanmar we really do need to speak to you and clarify some details. The forecasts look better and better. FocusCore is here to help companies start in Myanmar. Call us now!

Medical sector sees changes to import tax laws, favouring further import opportunities.
09 Aug

Medical sector sees changes to import tax laws, favouring further import opportunities.

Changes have been announced that relate to the tax applied on medical products entering Myanmar. This was part of the role completed by The Myanmar Pharmaceutical & Medical Equipment Entrepreneurs Association, MPMEEA .

The MPMEEA was established in April 1999, with a number of aims, including to “support and assist the State for success in its health-care works and to work for the improvement of the manufacturers, importers and exporters of medicine & medical equipment in accordance with the medical rules and regulations of the State”.

Up to now a letter of recommendation was required for firms wishing to import medical products. A tax was applied that was calculated on the volume imported with input on the price applicable for tax purposes supplied by the MPMEEA. Over time it was seen that there were variances in prices reported by suppliers. This being, it would seem, to alter the tax liability.

The change now introduced will now mean import tax will be levied following observation of product market prices following market and online research. An approval certificate will still be required from the Food and Drug Administration, (FDA).

This indicates a revised focus for the MPMEEA onto training initiatives in Myanmar for this sector. Anyone visiting a Doctor in Myanmar and receiving prescribed medication will almost certainly see on product labelling that it is imported. This is a huge business creating valuable revenue also for exporters in India and also China, Thailand and elsewhere. Growth is shown to be 12 percent per year and totalled US$450M, according to reported figures for 2015.

These changes will create new rules and opportunities for companies working in the medical sectors and most importantly huge opportunities for further imports of medical supplies.

If you are an international exporter in this field contact us now for further details and learn how you can create your base in Myanmar and create not only brand awareness for your range of products but also new revenue streams and further growth.

New Investment law in Myanmar will benefit foreign investors and authorise IPOs for joint ventures
05 Aug

New Investment law in Myanmar will benefit foreign investors and authorise IPOs for joint ventures

It has been confirmed that when the new Myanmar Investment Law is passed, one of the key changes will mean a stop to the benefits currently available for a five-year tax break, but only in terms of how these are allocated – this is really good news for foreign investors. The new law, which will incorporate the Foreign Investment Law and the Myanmar Citizen’s Investment Law, will remove inequality as to the way foreign or local investors are regarded for tax purposes and place both on an equal footing.

Tax exemption will still indeed be available but will be allocated according to the type of business and where it proposes to operate within Myanmar.

These details were recently confirmed by the secretary of the Myanmar Investment Commission, (MIC), Mr U Aung Naing Oo.

This is of course good news for foreign investors and it clearly shows the Government’s wish to raise even further the investment volumes from overseas, entering Myanmar. Not surprisingly, the MIC works hard to promote the interests of the Myanmar population and gain more growth in investment for Myanmar. This has, already, shown a very healthy and impressive recent track record. If you review Bloomberg you will find, amongst others, this headline,

“Foreign Investors Are Starting to Flock to Myanmar Deals”

“Already, approved foreign investment increased 18.4 percent to $9.48 billion in the year ending March 31, 2016, compared to 2015, according to the country’s Directorate of Investment and Company Administration. Myanmar may attract as much as $100 billion in foreign direct investment by 2030 if it spends enough to achieve its economic growth potential, the McKinsey Global Institute reported.” Source Bloomberg.

What further endorsement can we add to encourage you to contact us with all speed to learn how you can launch your company in Myanmar, now.

There are concerns that the new Myanmar Investment Law is taking time to obtain Government approval. All parties concerned are aware of the importance, not least because it currently blocks access for joint venture companies to be listed on the stock exchange. No Initial Public Offerings, IPOs, are available at this time.

We see this as a vehicle already in motion with inertia and these changes will in effect take off any remaining hand brake.

You should see it as a signal showing, without doubt, that now is the time to jump onboard this rapidly growing and prosperous economy. Call us now for a discussion in total confidence.

Apollo Towers Myanmar receives a $250 million loan from USA – Overseas Private Investment Corporation (OPIC).
01 Jul

Apollo Towers Myanmar receives a $250 million loan from USA – Overseas Private Investment Corporation (OPIC).

Apollo Towers Myanmar has been rapidly improving the communications infrastructure in Myanmar. They are part of the Tillman Global Holdings Group USA. For Myanmar they are working with TPG Growth (USA) a private equity and venture capital firm and Myanmar Investments International Limited.

You may have seen our blog about communications in Myanmar. We detailed the rapid growth of clients “getting connected”, with better line quality and wider coverage across more areas. Network operators such as Telenor, Ooredoo and Myanmar Posts and Telecommunications are all growing fast, spurred on by the new and easier regulations for operators. They have supplied a growing customer base and offered lower SIM card costs and connection tariffs. It is not surprising that growth in user numbers has been huge.

Apollo Towers have been actively involved. Now the pace accelerates still faster. Reports indicate the group have already installed 1,800 communications antennae towers in Myanmar with press statements now stating 2000 more are scheduled.

There are a number of significant messages here, for example:

1) The Overseas Private Investment Corporation (OPIC), is the U.S. Government’s development finance institution, and “mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy”

2) Tillman Global Holdings (“TGH”) is a global leader in infrastructure development in developed and developing markets. Founded by Sanjiv Ahuja in 2013, TGH serves as a holding company for building leading businesses in several markets. TGH, its subsidiaries and its associated entities operate in 5 continents and across over two dozen countries.

These are significant levers giving still more signs of even faster growth for the economy in Myanmar.

We urge you to contact us now for a confidential discussion as to how your company can start in Myanmar, become established, obtain the necessary visas and permits, find permanent or interim contract staff, obtain incorporation conforming to Myanmar regulations and follow compliance guidelines. We also provide a wide range of corporate services, to work with you in Myanmar and advising you on policy and strategy.