As part of a broad series of austerity measures aimed at plugging the sultanate’s growing budget deficit, a joint council of the State Council and the Majlis Al Shura – both advisory bodies appointed by the sultan – voted on May 26, 2016 to increase the corporate tax rate on liquefied natural gas (LNG) firms from 15% to 55%. The new raft of...
Almost 50 years after the sultanate began shipping oil out of the port at Mina Al Fahal, the country’s economy remains closely tied to the fortunes of hydrocarbons. In 2015 oil and gas together accounted for 33.9% of GDP, 78.7% of government revenues and 59.4% of merchandise exports, according to the Central Bank of Oman.
Investments being made in refining infrastructure are leading to expanded capacity and production, raising questions about how to best make use of this growing resource. Up to three quarters of domestically refined petroleum products are currently used in the country, with a subsidy system that reinforces the market. However, with new capacity...
With an estimated 19,000 cu metres of water available per person per annum, Myanmar might be called a regional water superpower. Its capacity for water storage is nine times that available in China, five times that in Vietnam, and 16 times the amount in both Bangladesh and India. The total catchment area of its 10 main rivers covers some 737,...
Installed hydroelectric capacity in Myanmar is significant, with the country operating 26 plants, with the capacity to generate 3214 MW of power. Still, hydro-power is not considered a sole solution and questions are being raised about the use of water resources compared with other options. While the whole country could be powered by water...
In a effort to usher in a new wave of investment into natural resource development, the previous ruling party passed the 2015 Mining Law during the final stretch of U Thein Sein’s presidential term. The initial injection of foreign capital was stunted by a sluggish permit process and a glut in commodities, but reforms continue to improve the...
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