Food prices in Myanmar are on the rise, driven by demand from abroad and other international factors. Palm oil prices are up by more than 35 percent over the past three months and now fetches more than K2100 per viss (1.63 kilogrammes). That’s because global prices have been on the rise, driven by demand for […]
Read MoreThe Ministry of Planning, Finance and Industry is drafting a Secured Transactions Law with assistance from the International Finance Corporation, U Htun Zaw, Deputy Director General of the Financial Regulatory Department, said. The aim of the legislation is to facilitate the establishing of a modern and formal credit market through which borrowers can take loans […]
Read MoreForeigners who purchase jewellery and gems at the Yangon International Gems and Jewellery Fair 2020 will exempted from paying a 5 percent commercial tax, according to Daw Nyunt Nyunt Khine, joint-treasurer at the Gems and Jewellery Entrepreneurs Association (GJEA). Foreigners entering the country to participate at the fair will also be given easy access to […]
Read MoreMyanmar’s economy is growing steadily but held back by uncertainty ahead of next year’s general elections and weaker private demand, according to the International Monetary Fund. IMF economists carrying out annual Article IV consultations in Myanmar reiterated warnings made last April that “risks are tilted to the downside” and cited concerns over fallout from the […]
Read MoreLegislation intended to relax Myanmar’s existing ban on alcohol imports has moved to the attorney general for approval, according to the commerce ministry. Trade Department Director-General U Minn Minn told The Myanmar Times that the ministry had finished drawing up the regulations and once the draft legislation was approved by the attorney general it would be presented to the […]
Read MoreThe government plans to release its master plan Micro, Small and Medium Enterprise (MSME) in February 2020, said U Min Ye Paing Hein, deputy minister for the Ministry of Planning, Finance and Industry. MSMEs form more than 99 percent of the economy and the sector’s development cannot be ignored as it is crucial to the country’s […]
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