As domestic fuel prices are expected to rise faster than global prices, the government will hedge against price volatility by buying and storing petrol onshore as demand rises during the coming fiscal year, said Yangon Chief Minister U Phyo Min Thein. Fuel, gasoline and diesel are vital for facilitating the flow of trade in Myanmar. […]
Read MoreMyanmar is preparing to open up its insurance industry to foreign businesses, expecting to attract firms that see high potential in a country where few people have coverage and the middle class is growing. Within the next few weeks, the government will announce bids for three licences that will allow 100% foreign-owned companies to offer life insurance […]
Read MoreThe Myanmar daily minimum wage has been set at K4,800, which is a rise of 33 percent from the K3,600 workers were drawing previously. The change was announced by the National Committee for the Minimum Wage on Monday. The change comes after months of negotiations between business owners and workers unions. Before the current wage […]
Read MoreThe government has launched a Development Assistance Policy (DAP) under which it aims to more effectively and transparently channel aid funds provided by international agencies to where they are needed. Over the years, Myanmar has received billions in international aid and assistance from the likes of International Partners in Development, United Nations and other international […]
Read MoreYangon Mayor U Maung Maung Soe said the government did not suspend any additional construction projects involving high-rise buildings on March 6. He made the comments in the regional legislature. MP U Hla Thein from Tamwe township asked if the government has plans to greenlight the construction projects. “Suspending construction projects which have already started can […]
Read MoreThe value of petroleum imports totaled $3 billion during the 11-month period to end February of the current 2017-18 fiscal year. That’s at least $1 billion more than the same period last year, U Yan Naing Tun, Director General of Directorate of Trade, told The Myanmar Times. This was due to increased domestic consumption and higher […]
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