Of the 200 companies eligible to receive a government COVID-19 soft loan, just 20 qualify for funding of more than K100 million. These included firms in manufacturing, trading and industry. Out of the 70 tourism and hotel-related companies that qualified for financing, just one, Inle Princess, was eligible for a loan of K100 million and […]
Read MoreEven before COVID-19 hit Myanmar, businesses in the commercial capital were struggling. Ko Thaw Zin, who runs his own restaurant in Yankin township, struggled with a shortfall in revenue due to dwindling tourist arrivals as well as rising costs brought about by a government move to raise electricity tariffs – a move it said would end debilitating […]
Read MoreThe COVID-19 pandemic is putting severe growth pressure on the economies of Cambodia, Laos, Myanmar and Vietnam (CLMV) and may cause the region’s growth to slip to a historical low, according to a Maybank Kim Eng report. CLMV’s GDP growth is forecast to slow sharply to 3 percent in 2020, down from 6.9 percent in […]
Read MoreRice exports will resume in May at regular volumes of 150,000 tonnes for the month of May, the Myanmar Rice Federation (MFR) announced on April 28. 100,000 tonnes will shipped overseas while the remaining 50,000 tonnes will be traded at the border. More than 2 million tonnes of rice will be allocated for export in […]
Read MoreApplications to extend Exporter/Importer Registration Certificates will now be carried out online until the end of July in view of COVID-19, according to a statement issued by the Ministry of Commerce on April 27. This will help traders bypass the need to physically go to the trade department “The Ministry of Commerce has eased many […]
Read MoreThe Central Bank of Myanmar (CBM) has slashed interest rates by another 1.5 percent, making it the third time it has done so since COVID-19 was declared a global pandemic. The decision to cut rates was announced under Directive No. (8/2020), issued on April 27 and effective May 1. The CBM first cut rates by […]
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Thailand
