Zaw Zaw
Zaw Zaw was born in Yegyi Township, Ayeyarwady Region in 1967. He graduated from University of Yangon, majoring in Mathematics. His career began in the early 1990s while living in Japan. During this time he worked a part-time job washing dishes in Ginza. This humble start preceded his rise to become a Burmese business magnate and banker.
In 1993 he founded Max Myanmar as an exporter of used Japanese cars to his home country. The company expanded into construction and hospitality sectors shortly after. One year later he started Hotel Business with Hotel Max Yangon. His firm won several bids for construction projects in Naypyidaw including a stadium for the 2013 Southeast Asian Games. Annual revenue reached about US $500 million in the early 2010s.
He reportedly had close ties to key figures from the former ruling military junta including Maung Aye and Than Shwe's grandson Nay Shwe Thway Aung. Through these relationships he won concessions and import licenses for most car and motorcycle imports plus fuel distribution. In 2009 Zaw Zaw suffered a major setback when blacklisted by the United States under a Specially Designated Nationals List regulated by the U.S. Treasury. He was delisted from SDN list by the US Treasury in 2016.
In 2011 he constructed 550-bedded Yankin Children's Hospital worth Kyats 9 billion ($10 million). He transferred hospital ownership to Ministry of Health for use as tertiary paediatric hospital in Yangon. His foundation continuously provided funds to hundreds of patients with Congenital heart disease requiring surgery. In September 2020 he built temporary treatment center for COVID-19 positive people within seven days in Yangon through Ayeyarwady Foundation.
On the 30th of April 2013 he was
honoured with State Excellence Award by President of Myanmar for being top taxpayer. He received country’s top taxes payer certificate by President U Win Myint for 2017-18 fiscal year. Zaw Zaw won Banker of the Year award by Myanmar Times in 2014. He led MFF to obtain AFC Dream Asia award in November 2013 recognizing social responsibility initiatives.
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Common questions
Where was Zaw Zaw born and when?
Zaw Zaw was born in Yegyi Township, Ayeyarwady Region in 1967. He graduated from University of Yangon with a major in Mathematics.
How did Zaw Zaw start his business career in the early 1990s?
His career began in the early 1990s while living in Japan where he worked a part-time job washing dishes in Ginza. This humble start preceded his rise to become a Burmese business magnate and banker.
What companies did Zaw Zaw found and what sectors do they cover?
In 1993 he founded Max Myanmar as an exporter of used Japanese cars to his home country. The company expanded into construction and hospitality sectors shortly after including Hotel Max Yangon.
Why was Zaw Zaw blacklisted by the United States Treasury in 2009?
He reportedly had close ties to key figures from the former ruling military junta including Maung Aye and Than Shwe's grandson Nay Shwe Thway Aung. These relationships allowed him to win concessions and import licenses for most car and motorcycle imports plus fuel distribution before being blacklisted under a Specially Designated Nationals List regulated by the U.S. Treasury.
When did Zaw Zaw receive the State Excellence Award from the President of Myanmar?
On the 30th of April 2013 he was honoured with State Excellence Award by President of Myanmar for being top taxpayer. He received country’s top taxes payer certificate by President U Win Myint for 2017-18 fiscal year.