Myanmar’s central bank has announced a broad exemption of foreign entities from a controversial new policy requiring foreign exchange to be converted into local currency, a rule that triggered panic among business groups and residents. The exemption, dated April 20, includes companies with approved foreign investments, firms in special economic zones, international non-government organisations, diplomats, […]
Read MoreThe Central Bank of Myanmar (CBM) announced on April 20 that it will exempt seven organizations, including MIC-licensed FDI, investments made in special economic zones and state-owned/national-owned international airlines, from dollar to kyat exchange within a day. According to the Notification No. (12/2022) of the Central Bank of Myanmar announced on April 3, the foreign […]
Read MoreChina has committed to many regional development projects under the Belt and Road Initiative and the LMC with the Mekong-Lancang countries. Thong Mengdavid, a research associate of the Mekong Center for Strategic Studies at the Asian Vision Institute, a think tank in Phnom Penh, told China Daily that China has committed to many regional development projects under […]
Read MoreBANGKOK (AP) – An order by Myanmar’s central bank that all foreign currency in bank accounts must be converted into the local currency has many in the military-ruled country worried over potential losses. Businesses and individuals were told in a notice issued on Sunday that as of Monday they must convert dollars and other foreign […]
Read MoreForeign exchange earned by locals in Myanmar must be deposited in accounts at licensed banks and exchanged for the local currency within one working day, the central bank said, as the country’s military authorities seek more control over foreign currency flows. In a notification dated April 3 and published in state media on Monday, the […]
Read MoreYANGON (CNA) – Myanmar will resume international passenger flights from April 17, the military said yesterday, lifting a two-year ban on foreign tourists. The Southeast Asian nation closed its borders to visitors in March 2020 at the beginning of the coronavirus pandemic in an attempt to prevent rising infections. Myanmar was further isolated after a […]
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