Microfinance and other non-bank financial institutions have been instructed to provide repayment relief to their borrowers as most consist of low-income workers who could be hit by the economic fallout of COVID-19. The Ministry of Planning and Finance’s Microfinance Business Supervisory Committee said on April 6 that neither principal nor interest should be collected “with force”. […]
Read MoreThe Myanmar Investment Commission (MIC) will accelerate approvals for investments in labour-intensive and infrastructure projects, MIC secretary U Thant Sin Lwin said last week. This is to ensure as many workers find jobs as possible to offset the impact of lay-offs in other sectors such as manufacturing and tourism. The MIC will also accelerate approvals […]
Read MoreSiam Commercial Bank (SCB), the country’s fourth-largest lender by assets, has won preliminary approval for a subsidiary business licence in Myanmar, targeting 7 billion baht in loans in the first five years of operation. The bank expects to set up the subsidiary and begin operations by the end of 2020, said chairman and chief executive […]
Read MoreMyanmar has granted operating licences to seven Asian banks, bringing to 20 the number of foreign banks allowed to do business in the previously isolated market. Bank of China (Hong Kong), Taiwan’s Cathay United Bank and Mega International Commercial Bank, Industrial Bank of Korea, Seoul-based KB Koomin Bank, Korea Development Bank and Siam Commercial Bank […]
Read MoreInvestors who wish to apply for permission to invest in the country will enjoy a 50 percent discount on application fees, the Myanmar Investment Commission (MIC) announced on April 9. This includes both Myanmar and foreign investors, the MIC said. The new fee structure will take effect from April 20 onwards and remain effective until […]
Read MoreCar dealers will be granted a two-month extension to their import licenses, a senior official of the Ministry of Commerce said. “We are working on a plan that allows the licenses to be extended for up to two months as most car dealers have stopped selling cars because of the COVID 19 crisis,” the official […]
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Thailand
