The Ministry of Commerce (MOC) last month suspended 103 licenses to re-export sugar due to a lack of demand from China, said U Win Htay, deputy chair of the Myanmar Sugar and Sugarcane Related Products Merchant & Manufacturers Association. Out of 103 companies, 49 companies will have their trading registrations suspended for three months, while […]
Read MoreProperty developers and investors have been looking forward to stable regulations and foreign participation in the local real estate sector since the Condominium Law was enacted in 2016 and gradually enforced. Firmer home ownership laws are expected to draw higher volumes of foreign investment, which, in turn, will benefit businesses along the supply chain, from […]
Read MoreA list of preferred foreign life insurers permitted to operate in Myanmar will be announced on April 5,the Ministry of Planning and Finance (MOPF) said last week. The MOPF is currently still in the midst of processing and selecting a list of qualified, foreign-owned life insurance providers to which it will issue licenses to operate […]
Read MoreConsumers will have to pay a 5 percent commercial tax when buying mobile handsets and related accessories from June 1 onwards, the Internal Revenue Department (IRD) announced on April 1. The taxes will be levied based on the total sales value of the purchase and collected by the vendor. Consumers will receive a stamped voucher to […]
Read MoreKrungthai Bank, Everex and Shwe Bank have signed an agreement on a Thai-Myanmar cross-border remittance service. Rawin Boonyanusasna, Senior Executive Vice President – Head of Global Markets Group of Krungthai Bank, Alex Lane, CEO of EVX Holdings, and Thein Zaw, Executive Vice Chairman of Shwe Rural & Urban Development Bank signed a Letter of Intent […]
Read MoreAs part of ongoing efforts to liberalise the financial services industry and increase credit to the private sector, the Central Bank of Myanmar (CBM) has introduced regulations to facilitate foreign investment in domestic lenders. On January 29 the CBM issued Regulation No 1/2019, allowing foreign banks and financial institutions to hold equity of up to […]
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