Although Myanmar has not officially detected any COVID-19 carriers, the virus has wreaked havoc on the economy and could lead to full-blown economic crisis if not contained soon. The tourism sector has suffered from a stampede of cancellations beginning in China. Now, most tourists from all other countries have decided to stay at home. The […]
Read MoreNew cost, insurance, and freight (CIF) values for imported vehicles will be announced soon, the Customs Department announced yesterday. The values will be used by the Customs Department to calculate duties on imported vehicles and can significantly influence prices. The values are being updated as customs duties on vehicles imported into Myanmar had been calculated […]
Read MoreSome pharmaceutical products imported from India may soon be out of stock in Myanmar say some local importers and sellers. According to the industry insiders, some 75 percent of the medicines sold in the Myanmar market are imported from India and currently Indian pharmaceutical firms are facing shortages of raw materials for their manufacturing. “Some […]
Read MoreThe strengthening of the kyat against the US dollar and Chinese yuan has begun to have a negative impact on Myanmar’s beans and pulses, merchants in Mandalay say. The rise in the kyats value of the past several weeks means Myanmar’s goods have become more expensive for foreign buyers while at the same time earning […]
Read MoreA request from the local automotive industry for duties on cars assembled in the country to be reduced has been presented to Yangon Region’s chief minister, the Ministry of Planning, Finance and Industry says. The duties imposed on components for semi-knocked down (SKD) and completely knocked down (CKD) vehicles assembled in Myanmar is the same […]
Read MoreTrade in Muse, the Myanmar town bordering China, has picked up again after grinding to a halt in the wake of the Covid-19 outbreak, U Min Thein, vice chair of Muse rice merchants association told The Myanmar Times. He said trade activities are now running at 80 percent of their usual capacity, and should return to […]
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