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KNOW MORE ABOUT See more International Tax Myanmar Highlight 2019, by DeloitteDoing Business in Yangon 2018, by PwCOctober 2017 Doing Business in Myanmar, by PwC Myanmar Economic Monitor, by The World Bank June 2019May 2018October 2017December 2016May 2016October 2015October 2013 Market Profile, by HKTDC Jan 2020 FreeCurrencyRates.com

Belt and Road Initiative Committee

Belt and Road Initiative Committee is established to explore and promote Belt and Road Initiative and bring the strengths of Myanmar, Hong Kong SAR and Macau SAR into full play. Chairman Mr James Lam, Chairman of Shing Kee Godown Logistics Group Limited Vice Chairman Mr Raymond Yim, Executive Director of Jacobson Pharma Corporation Limited The Belt and Road Initiative refers to the Silk Road Economic Belt and 21st Century Maritime Silk Road, a significant development strategy launched by the Chinese government with the intention of promoting economic co-operation among countries along the proposed Belt and Road routes, followed with a series of concrete actions by the Chinese government in creating Asia Infrastructure Development Bank, Silk Road Fund, and other mobilizations at local, national and international levels for implementing the Initiative.  The Initiative has been designed to enhance the orderly free flow of economic factors and the efficient allocation of resources.…

New Chairman Message

Dear members and friends,First of all may I express my heartfelt gratitude to our cofounders Mr. Richard Tao and Dr. Khin Wan Lin for laying such a solid foundation for the chamber. I am grateful that both of them will continue to contribute their talents and connections to the chamber with Richard as our new Honorary Chairman and Dr. Lin remain as our Vice Chairman and President.We are a privileged generation to witness the miraculous development of China from a desperately poor nation to the second largest GDP powerhouse in the World. It will be my greatest honour to participate in the same transformation of Myanmar. Hong Kong has played a pivotal role in the development of China. It is my wish that it will play just as an important role in Myanmar during this unprecedented new era. Perhaps this time with some help from the Mainland with its very…

Invest Myanmar Summit 2019 in Naypyitaw, MyanmarBusiness, Myanmar

The two-day Invest Myanmar Summit 2019 that held from 28-29 January in Naypyitaw, Myanmar provided international and local investors with the opportunity to discover the business potential of Myanmar.  It is also a platform for investors and businesses to meet with the Central and Regional Government officials. Organizer, The Republic of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI), is a national level non-governmental organisation, represents and safeguards the interests of the private business sector. Chamber's President Dr K W Lin and members attended the Summit to gain a better understanding of the business opportunities in Myanmar.  

ASEAN Chambers Chinese New Year Gathering 2019Business, Myanmar

On 19 February, HKMMCCI proudly co-hosted the ASEAN Chambers Chinese New Year Gathering - Lo Hei event at JW Marriot Hong Kong with other six ASEAN Chambers in Hong Kong.  Lo Hei is a tradition in various Asean countries for the purpose of greater prosperity in the coming year.  The event was well attended by over 150 people, including the Consulate representatives of more than 10 consulates offices, representatives from ASEAN chambers and their members and friends. Our Foundation also sponsored 2 Myanmar students in Hong Kong for them to grasp this opportunity to build their own business contacts and networks.

State and Region-wide Priority Investment Sectors and Corresponding Tax Incentives AnnouncedBusiness, Myanmar

The Ministry of Investment and Foreign Economic Relations (MIFER) has announced the priority investment sectors for each of the country’s 14 states and regions, as well as the capital Naypyidaw which is designated as a Union Territory.  Each administrative division has been assigned five priority business areas, which are drawn from a list of 14 priority investment sectors - agriculture, manufacturing, hotels and tourism, logistics, real estate, power, natural resources and mining, livestock, urban development and development of industrial zones, healthcare, eco-tourism, education, infrastructure and transportation, and IT services. Investors in any of the five designated priority sectors in the relevant administrative division are to be exempted from Corporate Income Tax (CIT) for periods ranging from three to seven years. For example, companies who invest in manufacturing, infrastructure and transportation, IT Services, hotels and tourism, or education in the Yangon Region (which includes the country’s commercial capital and largest city Yangon) won’t have to pay CIT for…

China and Myanmar sign off on Belt and Road projects

Myanmar and China signed 33 bilateral agreements that will bind the south-east Asian country closer to its giant neighbour in January 2020, including rail and deep-sea port projects along an economic corridor linking China’s south-western interior to the Indian Ocean. Xi Jinping, the Chinese president, and Myanmar’s State Counsellor Aung San Suu Kyi agreed the projects — long under discussion as part of China’s Belt and Road Initiative global infrastructure plan — on the second day of Mr Xi’s two-day visit to the capital Naypyidaw. As part of China’s signature BRI project for the country, the China-Myanmar Economic Corridor, the two sides signed agreements on railways linking China to Kyaukpyu on the Bay of Bengal in Rakhine, and a final agreement on the building of a deep-sea port there.  The two sides also inked agreements providing for a special economic zone at the Chinese border and made oblique reference to…

Announcement the appointment of Mr. Vincent Lam as the new Hong Kong Macau and Myanmar Chamber of Commerce & Industry

We are delighted to announce the appointment of Mr Vincent Lam as the new Chairman of the Hong Kong Macau and Myanmar Chamber of Commerce & Industry ("HKMMCCI"), starting 1st January 2020. We welcome the arrival of the new chair and look forward to a prospering collaboration. Mr Lam graduated from the University of Sydney with a Bachelor of Science Honours degree in 1984 and subsequently obtained a Master’s degree in Commerce from the University of New South Wales (“UNSW”) in Australia in April 1987.  Mr Lam is also a member and a director of the UNSW Hong Kong Foundation Board.  He has been a fellow of the CPA Australia. In addition, Mr. Lam is a director of the Christian Action. He was also re-appointed as a panel member of the Administrative Appeals Board for a term of three years with effect from 15 July 2018. At the same time,…

Myanmar visa-free access extended

HKSAR passport holders will continue to enjoy visa-free access to Myanmar following the country's extension of a tourist visa pilot scheme for one year until 30 September 2020, the Immigration Department announced on 6 September 2019. Under the scheme, HKSAR passport holders can visit Myanmar without a visa for up to 30 days. Noting Myanmar is along the Belt & Road, the department said the extension of Myanmar’s Tourist Visa Exemption Pilot Scheme will bring greater travel convenience, and strengthen the tourism, cultural and economic ties between the two places. Source: news.gov.hk