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Government responses to the economic impact of Covid19 to support business in Myanmar and Australia
Webinar
28 April 2020 I 1:00PM Myanmar Time I 4:30PM AEST


In partnership with Austrade, AustCham Myanmar invites you to an exclusive online briefing on “Government responses to the economic impact of Covid19 to support business in Myanmar and Australia”, where you will have an opportunity to hear from key policy makers, officials and our experts.  Attendance is free!

Our Speakers are:
HE Andrea Faulkner, Australian Ambassador to Myanmar
U Aung Naing Oo, Permanent Secretary of the Ministry of Investment and Foreign Economic Relations
Jeff Turner, Australian Senior Trade and Investment Commissioner, Yangon
Chris Hughes, Chairman of AustCham Myanmar

Connection details for the meeting will be sent to you by registering below – please do this by 5.00pm 27 April 2020.

REGISTRATION
Employment and restructuring issues and strategies for businesses in Myanmar, including an overview of the new Myanmar Insolvency Law 
Webinar 
5 May 2020 I 1:00PM Myanmar Time

 
AustCam Myanmar invites you to an online briefing to be presented by our member SCM Legal on Employment issues and restructuring strategies for businesses in Myanmar, including an overview of the new Myanmar Insolvency Law. 
 
Please join us on 5 May to hear some practical suggestions on how businesses in Myanmar can manage the key legal issues and impacts they are facing as a result of the COVID 19 pandemic.  The seminar will include an analysis of the new Myanmar Insolvency Law and how this brings both risks and opportunities to businesses facing an uncertain outlook. 

Our Speaker: 
Chris Hughes
Christopher Hughes is the Chairman of AustCham Myanmar and founding partner of independent Myanmar firm SCM legal, which he started two years ago after a twenty-year career across Australia, the UK and Asia with international firms Baker & McKenzie, Clifford Chance and Bryan Cave Leighton Paisner. He has been based in Myanmar since 2013 and has advised the Government on several major reforms, including the Myanmar Companies Law and the Myanmar Investment Rules. He has also provided advice and executed transactions for both international and Myanmar investors across many sectors, including telecommunications, infrastructure, energy, transport, financial services, tourism, real estate, consumer goods, oil & gas, mining, manufacturing, education, healthcare and agriculture and is ranked as one of Myanmar’s leading lawyers.


Connection details for the webinar will be sent to you by email. Please register by no later than 4 May 2020. 
 
REGISTRATION
ANZAC Day 2020
This year, COVID-19 health and safety considerations required the cancellation of the traditional Yangon ANZAC Day Dawn Service at the Rangoon War Cemetery. To mark ANZAC Day, Ambassador Andrea Faulkner, Defence Attache Colonel Paul Bruce and Australian Federal Police Detective Superintendent Bill Polychronopoulos paid their respects, on behalf of the Embassy and all Australians in Myanmar, by laying a wreath in the Australian Embassy residence. Lest We Forget.
COVID-19 Updates 
Ministry of Health and Sports: Coronavirus Disease 2019 (COVID-19) Surveillance Dashboard

 
Person Under Investigation Confirmed Case Recovered Deaths
 2762  146  10  5
 
Ministry of Health and Sports's COVID-19 Reports (25 April 2020), Download here

Announcement on Extension of the Precautionary Restriction Measures Related to Control of COVID-19 Pandemic until 15 May 2020: With a view to strengthening measures to contain the spread of COVID-19 pandemic, the Ministry of Foreign Affairs of the Republic of the Union of Myanmar has issued the following announcements regarding the temporary entry restrictions for visitors from all countries which are in force till 30 April 2020
 
Stay-At-Home order imposed in Yangon Region’s three townships: The Ministry of Health and Sports has issued this order in exercise of the rights contained in Section 21, sub-section (b) of the Prevention and Control of Communicable Diseases Law

Announcement for 21 days facility quarantine and 7 days home quarantine: The Ministry of Health and Sports had earlier announced the 14-day facility quarantine, followed by another 14-day home quarantine, for prevention of COVID-19 infection from the foreign visitors and the positive patients.

Some customs restrictions to be eased to facilitate trade: The government will reduce trade restrictions and red tape to facilitate the import and export process during the COVID-19 outbreak. Starting April 20, the customs department will reduce customs duties for businesses operating with the Myanmar Automated Cargo Clearance System (MACCS).

MoC issues over 67,000 COs through online platform so far:The Ministry of Commerce (MoC) has issued over 67,000 preferential Certificates of Origin (COs) so far for exporters and importers in Myanmar through electronic means, the ministry stated.

Myanmar Workforce Promised Govt Payments During COVID-19 Factory Closures: The Ministry of Social Welfare, Relief and Resettlement will provide certain social security benefits for workers at factories that will have to close until April 30, according to director-general U Nyunt Win of the ministry.

State Counsellor discusses COVID-19 situation with representatives from labour and industry
State Counsellor Daw Aung San Suu Kyi, in her capacity as the Chairperson of the National Central Committee for COVID-19 Prevention, Control and Treatment, held a video conference with representatives of the industrial sector and labour affairs from the Presidential Palace in Nay Pyi Taw yesterday.

State Counsellor Daw Aung San Suu Kyi chastises factory owners for staying open despite instructions not to: Action will be taken against factory owners who have flouted a government order to shut down factories and avoid mass gatherings at workplaces until COVID-19 inspections have been carried out at their premises, State Counsellor Daw Aung San Suu Kyi said on April 22.

Service Fees during COVID-19 Comparison Announcement by Myanmar Investment Commission(MIC): Myanmar Investment Commission, regarding the Corona Virus-COVID 19 infection in most of the countries all around the world, made the announcement of lower the Application Form Fees and Service Fees to 50% of original fees, for the Foreign Direct Investment(FDI)  coming into Myanmar, Local investments and Investments with approved orders and license, in order to perform more effectively and successfully with less production cost and operational expenses, starting from 20th of April 2020. 

The service fees changes apply only within the period of the country’s official definition  in relation to the infection of COVID-19, and shall be revised and announced at the end of the period.
 
Weekly News 
Visa Foundation Commits $210 Million to Support Small and Micro Businesses and Immediate COVID-19 Emergency Relief: The Visa Foundation recently announced a commitment of two programmes totalling $210 million to support small and micro businesses, aligning with the Foundation’s long-term focus on women’s economic advancement and inclusive economic development, and to address an urgent need from local communities following the spread of COVID-19. 

Myanmar economy still forecast to grow despite global recession: Myanmar is among just 10 percent of the globe projected by the International Monetary Fund to post economic growth this year. The rest of the world is expected to slip into recession. The forecast comes despite the spread of COVID-19 in Myanmar, which has already resulted in the closing of its borders, worsening conflict in Rakhine State, a collapse in tourism and dimmer prospects of mass investment from Europe and America.

YSX sees more foreign trading, announces measures to draw more listings: The number of foreigners buying shares on the Yangon Stock Exchange (YSX) has been increasing since foreign trading was permitted for the first time in Myanmar last month.Buoyed by foreign purchases, activity on the local bourse has picked up despite the COVID-19 outbreak, YSX data showed.

World Bank fast-tracks $50 million loan for Myanmar ICU upgrade: The World Bank has fast-tracked the approval of US$50 million in loan financing for the Myanmar COVID-19 Emergency Response Project, fast-tracked by its facility as part of global emergency support operations. The funds will be prioritised for the upgrading of Intensive Care Units (ICU) at selected hospitals including all eight central level hospitals and 43 sub-division level hospitals across all states and regions.

Collecting rentals of leased hotels deferred for six months: The Directorate of Hotels and Tourism under the Ministry of Hotels and Tourism has announced that it will defer collecting of rents of the leased hotels and joint venture hotels for six months beginning from 1 April to 30 September.
 

With thanks to our Premium Corporate Members.

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