Many businesses in Mandalay tied to border trade with India and China have slowed or nearly stopped due to the coronavirus pandemic, and many observers say it will take a long time to recover from the sluggish market conditions. Mandalay Region Chamber of Commerce and Industry (MRCCI) Chair U Kyaw Min said, “It’s good that […]
Read MoreMyanmar factories will be allowed to open for operations after being inspected for COVID-19 purposes by the Ministry of Labour, Immigration and Population, Ministry of Health and Sports and other relevant groups. The factories, some of which had closed for the Thingyan holiday on April 10-19, will undergo inspections between April 20 and 30, according […]
Read MoreMyanmar hotel and tour businesses will be exempted from paying licence fees for a period of one year as the sector continues to struggle against the COVID-19 pandemic, the hotel ministry said on April 16. The fees for applying for a new license or renewals, which include a hotel business fee, tour agencies fee, tour […]
Read MoreThailand’s Kasikornbank is planning to expand into Myanmar’s retail market with a focus on digital services. The Central Bank of Myanmar on April 9 approved the Thai bank’s acquisition of a 35 percent stake in Ayeyarwaddy Farmers Development Bank (A Bank), making it the first foreign commercial bank to take a stake in a local […]
Read MoreThe government has been rolling out a slew of relief measures to help ease the pain for businesses affected by the COVID-19 pandemic and keep investors interested in Myanmar. In an April 11 directive, the Ministry of Commerce exempted traders from import license fees for all medicines and medicinal raw materials. There were two precedents […]
Read MoreMicrofinance 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”. […]
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