Business and leisure travellers have an ideal second home in apartments in Yangon because it only 10 kilometres away from the international airport. If it is your first time to visit Yangon, it is the largest city in Myanmar that used to be known as Burma. Yangon is a mixture of the traditional and modern with high rises and Buddhist temples.
Myanmar has recently revised its investment laws to offer greater opportunities to Thai companies to invest in the wholesale and retail sector. According to PakainayLeng-ee, minister counsellor of the Thai embassy’s office of commercial affairs in Yangon, Thai companies are allowed 100% ownership in wholesale and retail businesses in Myanmar or create joint ventures with local partners.
The latest update to the company laws of Myanmar became effective last August 1 to make foreign investments easier. Under the new Myanmar law, foreign investors can own 100% of a wholesaling enterprise if they invest at least US$5 million. There is also an option of owning 20% shares in an enterprise if they choose to have business partners. The minimum initial investment that is required is US$2 million.
If the foreign investor chooses investment in retail firms, the minimum investment required is at least US$3 million. If there are local partners, the foreign investor is allowed to hold 20% of the enterprise shares with a minimum requirement of $700,000.
Many Thai firms are now undertaking feasibility studies on the wholesale and retail businesses in Yangon because there are fewer constraints to foreign investment. Even SME’s can share in the new opportunities by seeking local partners for import and export activities. Thai products are most welcome in Myanmar because consumers consider them better than those from China. Myanmar has a very young population which means greater consumption and a larger labour pool.
One of the benefits that you can experience in the apartments in Yangon is the multi-lingual and hospitable staff. Travellers can choose from 183 rooms and apartments that have been creatively decorated to showcase the culture of Myanmar. For visitors who want a longer stay, there are service apartments with full equipped kitchens and separate dining rooms.