Best answer: What kind of business should I do in Myanmar?

What is the best business to start in Myanmar?

Best Business Opportunities To Start In Myanmar

  • Start a tour guide business.
  • Start a food processing business.
  • Start a tea kiosk business.
  • Start a convenience store business.
  • Start a recharge voucher selling.
  • Start a fresh juice kiosk business.
  • Start an online custom tailoring business.
  • Start a gift shop kiosk business.

Is Myanmar a good place to do business?

Yangon, Sagaing, Bago and Nay Pyi Taw have emerged as the best environments in which to do business in Myanmar, according to the Myanmar Business Environment Index 2020 (MBEI). … Results are analysed to produce an index for each state and region of Myanmar, establishing a benchmark for rating business-friendliness.

How can I start my own business in Myanmar?

The first step in company incorporation is to apply for a Business Incorporation Certificate from DICA, with the submission of certain documents:

  1. Form A of the Myanmar Companies Regulation 1957.
  2. Draft Memorandum and Articles of Association.
  3. Duly completed questionnaire form.
  4. Intended activities to be performed.

Can a foreigner start a business in Myanmar?

The foreigners can own 35% of a Myanmar company. Any private entity can be established with the presence of one shareholder and one director. At least one of the appointed directors should be a Myanmar resident. … The companies must register themselves online.

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Which business is most profitable in Myanmar?

Key Business Opportunities in Myanmar

  • Agriculture. Myanmar’s economy is based on agriculture as the country consists of abundant fertile land and water resources. …
  • Tourism. …
  • Real Estate and Urban Solutions. …
  • Manufacturing. …
  • Power.

What type of economy does Myanmar have?

Burma now has a mixed economy with a private, state, and a joint private-state sector. Agriculture, light industries, and other businesses are in the private sector .

What does the term business mean?

The term business refers to an organization or enterprising entity engaged in commercial, industrial, or professional activities. Businesses can be for-profit entities or they can be non-profit organizations that operate to fulfill a charitable mission or further a social cause.

How do I get a business license in Myanmar?

Registration of Myanmar Public Companies

  1. Check availability of company name at DICA. …
  2. Obtain company registration forms at DICA (or online) and pay stamp duty. …
  3. Submit signed company registration forms at DICA and pay registration fee. …
  4. Incorporation certificate. …
  5. Prepare for business commencement.

How many SMEs are there in Myanmar?

There are over 70,000 registered SME enterprises in the country, and only 2000 qualify for bank loans.

What is SME in Myanmar?

The SME Law defines “small enterprises” as those with between K50 million (approximately US$50,000) and K500 million (approximately US$500,000) in capital, or with between 30-300 employees.