YANGON – MIC greenlights Yangon American Int’l School
Myanmar children go home after school. Photo: Phoe Wa/The Myanmar Times
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The Myanmar Investment Commission (MIC) has greenlighted London-listed Myanmar Strategic Holdings (MSH) to operate an international school in Yangon.
The investment permit for the US$1 million Yangon American International School was granted under the 2016 Investment Law, following the MIC’s liberalisation of investment activities in the education sector.
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After the MIC permitted foreign businesses to enter the education market last April, service providers from the UK, Singapore, Australia, and New Zealand are showing interest to enter the market. Last year, US Kaplan Inc has opened its first campus, Kaplan Myanmar University College, in Yangon and Singapore-based KI College Singapore has set up a new learning centre. Royal British International School also has a campus in the commercial capital.
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MSH’s international school is due to complete construction by next month and is scheduled to launch in August.
The campus will have a planned capacity of 400 students and will be located 4km from MSH’s Wall Street English and Auston Institute of Management in Junction Square. It will have up to 17 classrooms which will spread over 2,000 m2, including a playground.
The school will operate classes from pre-kindergarten to the third grade, serving students from the age of three to eight with revenues for MSH being generated from student fees, admission fees and ancillary services.
“Myanmar Strategic Holdings is excited about the opportunity to lead this trend through the provision of education at internationally recognised standards at the Yangon American International School, which will be positioned as a leading educational institution,” said Enrico Cesenni, MSH CEO
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He added that the investment permit will also enable MSH to fully own its investment in the school while providing additional investment protection and tax benefits to the company.
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