Myanmar is gunning for more foreign direct investments (FDI) from East Asia in the next 20 years under its new Myanmar Investment Promotion Plan (MIPP), U Than Aung Kyaw, deputy director general of the Directorate of Investment and Company Administration (DICA) told The Myanmar Times at a book launch in Yangon on Thursday. Besides strengthening […]
Read MoreMyanmar will implement plans to raise tax revenues in the coming years. “Our target is collect over 15 percent in taxes to GDP,” said U Min Htut, director general of the Internal Revenue Department under the Ministry of Planning and Finance. The tax to GDP ratios of other ASEAN countries are all above 10pc, with […]
Read MoreSmuggling and illegal trade continue to be a major problems for the country’s economy, says the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI). According to the Business Sentiment Survey issued by UMFCCI in May, illegal trade stands at sixth among the top 10 issues hampering the country’s economy. The survey was […]
Read MoreDespite the relaxation of regulations for foreign investors to enter the fuel import and distribution business in Myanmar, no new companies have entered the market over the last year, said U Thant Sin, vice chair of Supervisory Committee for Petroleum and Petroleum Product Enterprises at a press conference on October 11. Previously, the Ministry of […]
Read MoreStakeholders in the property and construction sector say there is still a need for a body or organisation to oversee, implement and enforce the regulations under Condominium Law 2016 and Condominium Rules 2017. The lack makes the legislation less effective presently those in the business say. As there are very few condo projects in Yangon […]
Read MoreMyanmar’s trade volumes totaled US$18 billion between April and September, the interim period between the end of 2017-18 and the new 2018-19 fiscal year, which commenced October 1, according to the Ministry of Commerce (MOC). Trade increased by $2 billion compared to the same period last year. Exports totaled $8.5 billion during the period, lagging […]
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