Parliament has approved the new National Plan law for fiscal 2019-20, which will be effective from October 1, 2019 to September 30, 2020. The National Plan is expected to help Myanmar’s GDP grow by 7 percent to K95.4 billion during the period compared to 6.8pc in fiscal 2018-19. Contributing to economic growth is the financial […]
Read MoreTo reduce Myanmar’s dependence on imported steel, plans are being made to increase local production with Chinese technology say industry officials. “Local steel consumption relies heavily on imports rather than local production as only 10 percent of what the local market needs is produced locally while the 90 percent is imported,” said U Tin Myint, […]
Read MoreArrangements are being made to allow liquor, beer and wine imports, albeit within limits, U Aung Htoo, deputy minister for the Ministry of Commerce, said in Parliament. Supporting legislation will also be drafted. As Myanmar currently bans the import of alcohol, large quantities of foreign liquor, beer and wine are smuggled into the country on […]
Read MoreDespite the importance of international trade as an enginefor economic growth, development and poverty reduction, very little attention has been given to the substantial negative impacts of illicit trade. From smuggling, counterfeiting and tax evasion, to the illegal sale or possession of goods,services, humans and wildlife, illicit trade is compromising the attainment of economic and […]
Read MoreThe Central Bank of Myanmar (CBM) is planning to take additional measures to further stabilise the foreign exchange market, vice governor U Soe Min said in Parliament on Monday. The new measures may include it intervening in the foreign exchange market, the Myanmar Times understands. The move comes on the back of a recent bout […]
Read MoreThe Ministry of Home Affairs’ Bureau of Special Investigation (BSI) will record gold prices twice a day to deter price manipulation, said U Myo Myint, chair of the Yangon Region Gold Entrepreneurs Association, refuting rumours that the bureau was investigating local gold businesses. “Government departments including the township police station, township general administrators and BSI […]
Read More
Thailand
