Tatmadaw and Hluttaw MPs from the Union Solidarity and Development Party (USDP) have discussed and decided against a proposal from the President to change the current fiscal period at a Hluttaw session held on October 23. The proposed new fiscal period is from October 1 to September 30. The current fiscal period is April 1 […]
Read MoreThe Malaysian government will not make any hasty decisions on its investments in Myanmar despite the Rohingya refugee crisis as any form of unilateral action to cut diplomatic ties with Myanmar will limit its ability to help the Rohingya, according to Malaysian media reports. However, Malaysian private investors will have to make their own decisions […]
Read MoreMyanmar is raising its efforts to remedy the Rohingya crisis by pushing for economic development in Rakhine State. This comes after a couple of important investors in the state’s offshore oil and gas industry have expressed concern in continuing with their operations the area. On October 21, nine working committees from the private sector will […]
Read MoreThe outstanding gold debt owed by private gold mining firms to the government as at September 30, 2017 is 14,121.32 ticals, U Ohn Win, Union Minister for National Resources and Environmental Conservation reported at the Pyithu Hluttaw held on October 19. In Myanmar, 1 tical is equivalent to 16.34 grams. Those debts are to be […]
Read MoreSmall and medium enterprises (SMEs) are still struggling to compete and expand five years after U Thein Sein’s former government established a central committee to support the sector and after the Central Bank of Myanmar recently permitted banks to approve loans without collaterals. On top of limited access to capital, insufficient supporting infrastructure, high taxes […]
Read MoreWhile seen as positive, Nay Pyi Taw’s proposed change of fiscal year alone cannot address the lack of flexibility in the annual budgeting process, according to businesses. The adoption of multi-year budgeting should be adopted instead. Lawyers, investors and financiers told The Myanmar Times that while changing the fiscal year could bring some advantage to the economy, […]
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