Myanmar has built a new companies law to secure more investment. (Photo: AFP/VNA) Hanoi (VNA) - Myanmar has built a new companies law after amendment of its outdated Companies Act-1914 to adapt to the current age, registering an important milestone with its efforts to promote foreign investment. The new Myanmar Companies Law 2017 came into effect on August 1, 2018, enabling a company's registration process to be done electronically now. All companies are set to re-register within six months from August and the re-registration process is to be completed through the Myanmar Companies Online (MyCO) system. Under the previous Myanmar Companies Act 1914, restrictions were imposed on foreign companies, leading to hesitation of investors and obstacles to foreign capital flows, thus hindering economic development. According to the new Myanmar Companies Act 2017, foreigners are permitted to own up to 35 percent of stake in local companies, which facilitates business undertakings and … [Read more...] about Myanmar launches new corporate law to attract foreign investment
Hanoi attractions map
Vietnam to map out new-generation FDI attraction strategy
Vietnam to map out new-generation FDI attraction strategyBy Thuy Dung The workshop on FDI attraction in 2020-2030 is organized in Hanoi on July 9 - PHOTO: THUY DUNG HANOI - The Ministry of Planning and Investment is mapping out a new strategy for foreign direct investment (FDI) attraction amid global changes prompted by the fourth industrial revolution and new-generation trade agreements. At the workshop on recommendations on Vietnam’s FDI strategy and vision in 2020-2030 in Hanoi today, July 9, Deputy Minister of Planning and Investment Vu Dai Thang said that this year marks Vietnam’s 30 years of FDI attraction. Though FDI capital has in the past time made significant contributions to the country’s socio-economic development, Thang admitted that the capital use efficiency is low in terms of quality. The goal of attracting FDI capital to high-tech sectors has not met expectations, while the coordination between FDI firms and domestic projects to create higher … [Read more...] about Vietnam to map out new-generation FDI attraction strategy
Startups should map out plans to go global: experts
Startups should map out plans to go global: expertsBy Chi Thinh Consulting experts listen to presentations on the projects of startups - PHOTO: CHI THINH HCMC - Domestic startups should promptly draw up detailed action plans to expand to international markets, consulting experts advised at a forum titled, “Connecting Vietnamese startups at home and abroad,” in HCMC. During the project presentation of startups within the framework of the forum held on June 27, experts said Vietnamese startups should make careful preparations to seek capital and attract investors. Local startups are currently mainly developing products and seeking local customers. Meanwhile, the connection of startups with finance and intellectual property experts across the world remains modest. Only startups that have received foreign investments have opportunities to access finance and corporate administration consulting experts and companies. Startups should prepare information on their rivals, … [Read more...] about Startups should map out plans to go global: experts
Hanoi in search of infrastructure funds
Hanoi has created favourable conditions for luring investment in infrastructure under the build-transfer (BT) mode, but municipal authorities require that BT investments be transparent and comply with the law. The capital city of Hanoi has created favourable conditions for luring investment in infrastructure under the build-transfer (BT) mode, but municipal authorities require that BT investments be transparent and comply with the law. - Photo kinhtedothi.vn Deputy Director of Hanoi Planning and Investment Department Vu Duy Tuan, told Kinh Te & Do Thi (Economy and Urban Affairs) newspaper that “the city’s limited budget cannot afford infrastructure transport projects, so attracting investment from other sources was necessary.” Thus, the municipal People’s Committee had introduced policies to incentivise capital mobilisation through public-private partnerships (PPP) or BT. This year, city authorities have given approval for pre-feasibility studies … [Read more...] about Hanoi in search of infrastructure funds
10th CLV Development Triangle Area Summit held in Hanoi
At the 10th Cambodia-Laos-Vietnam Summit on Development Triangle Area (Photo: VNA) Hanoi (VNA) - The 10th Cambodia-Laos-Vietnam Summit on Development Triangle Area (CLV-10) took place in Hanoi on March 31 to review the outcomes of trilateral cooperation programmes over the past time and map out development orientations in the next period. The event saw the participation of Vietnamese Prime Minister Nguyen Xuan Phuc, Cambodian Prime Minister Samdech Techo Hun Sen, Lao Prime Minister Thongloun Sisoulith, President of the Asian Development Bank (ADB) Takehiko Nakao, Managing Director of the World Bank (WB) Joanquim Levy, and Secretary-General of the Association of Southeast Asian Nations (ASEAN) Lim Jock Hoi. Prime Minister Ngyen Xuan Phuc said the three countries have carried out special cooperation programmes, focusing on socio-economic development in the development triangle area covering 13 border provinces. The trio has reaped positive cooperation outcomes from security … [Read more...] about 10th CLV Development Triangle Area Summit held in Hanoi