The Central Bank of Myanmar will soon penalise people who are using dollars to pay for local business transactions, U Win Thaw, director general of the Foreign Exchange Management Department told The Myanmar Times. The central bank has issued two directives – in May 2015 and in the late 2016 – that all local payments must be paid […]
Read MoreAccording to MPRL E&P, Pyi Thit Well 1 in offshore Block A-6 was spudded to appraise gas reserves and prospects. The British Virgin Island-registered MPRL E&P signed a production sharing contract (PSC) with Myanma Oil and Gas Enterprise (MOGE) in January 2017 for oil and gas exploration in Block A-6. The company has been drilling in Pyi Thit’s exploratory wells since March 2012 and […]
Read MoreMANILA, Philippines – The net inflow of foreign direct investments (FDI) into the Philippines rose 17 percent to $1.56 billion in the first quarter from $1.34 billion in the same period last year as the country continues to enjoy strong macroeconomic fundamentals, according to the Bangko Sentral ng Pilipinas (BSP). “The sustained FDI inflows reflect […]
Read MoreHA NOI — The steel industry is predicted to grow by 12-15 per cent in the next five years, the Vietnam Steel Association (VSA) reported at a June 12 workshop in HCM City. Cast iron output is forecast to increase 80 per cent to reach 4.5 million tonnes, while steel billets will jump 47.2 per […]
Read MoreTHE Philippines recorded a net inflow of $509 million in foreign direct investment (FDI) in March, resurging from the level in February when the net inflow hit an eight-month low, central bank data showed on Tuesday. The net inflow in March rose by 39 percent from $366 million in February and by 30.6 percent from […]
Read MoreA white book published by European businesses has hit out at Myanmar’s protectionist tendencies blocking or stalling liberalisation and cited tax inefficiencies as one of the top concerns among investors. The European Chamber of Commerce Myanmar (EuroCham) published a white book, an annual publication identifying the year’s salient business, trade and investment issues affecting European […]
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