Weekly Business News from Myanmar

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  Used cars make up 92% of the automobile market

  Used cars make up 92 percent of the automobile market in Myanmar while 89 percent of used car imports come from Japan, according to an online survey by an automotive website.
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  US companies have invested more than USD 2 million in Myanmar as of January 2015

  In January 2015, US companies invested over US$2 million in Myanmar, according to the Directorate of Investment and Company Administration (DICA).
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  UK show to highlight Myanmar investment opportunities

  UK Trade and Investment Burma and the British Chamber of Commerce are set to host the “Myanmar Investment Summit” in London on February 19 to showcase investment opportunities in Myanmar to British companies and investors.
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  Myanmar's GDP growth is expected to slow down to 7.8 percent in fiscal year 2014-2015 ending March 31, from 8.3 percent in 2013-14 fiscal year

  Myanmar's GDP growth is expected to slow down to 7.8 percent in fiscal year 2014-2015 ending March 31, from 8.3 percent in 2013-14 fiscal year
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  According to the new amendments in the Union Taxation Bill; Alcohol, cigarette and tobacco products, which are in a list of 16 products, will see a rise in tax in 2015-22016 fiscal year which starts in April

  According to the new amendments in the Union Taxation Bill; Alcohol, cigarette and tobacco products, which are in a list of 16 products, will see a rise in tax in 2015-22016 fiscal year which starts in April
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  Thai hospitality and hotel conglomerate Dusit International has signed a hotel management agreement (HMA) to open its contemporary D2 brand in Myanmar

  Thai hospitality and hotel conglomerate Dusit International has signed a hotel management agreement (HMA) to open its contemporary D2 brand in Myanmar
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  Japan has offered Myanmar USD 250 million for development projects

  Japan has offered Myanmar ¥25.8 billion ($258 million) in loans to help the country carry out its development projects.
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  More internet service providers (ISP) may enter Myanmar market as the telecommunication bylaws have been passed

  More internet service providers (ISP) may enter the Myanmar market as the telecommunications bylaws have been passed, U Thaung Tin, deputy minister for telecommunication and information technology, said.
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  Yangon high-end residential supply to quadruple by 2017

  More than 10,000 new high-end residential apartments in luxury condominium towers will be added to the Yangon market before the end of 2017, according to a new report.
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  BMW Motorcar Company has opened the first showroom/service center in Yangon

  World-famous Germany-based BMW Motorcar Company’s the first showroom, service center and S3 center that include spare parts was opened in Yangon on November 15 at the corner of Narnattaw Road and Pyay Road, Kamayut Township, according to Prestige Automobiles Co., Ltd.