Entrepreneurs ask finance minister to reconsider special tax

Planning and Finance Minister U Kyaw Win received a barrage of requests to cut taxes during a meeting with a group of almost 50 business associations in Yangon earlier this week. The minister met with entrepreneurs at the Union of Myanmar Federation of Chambers of Commerce and Industry, to ask their opinions on economic development and learn […]

The members of the new Myanmar Investment Commission has been announced

THE Myanmar Investment Commission (MIC) was reshuffled on Tuesday with the appointment of U Kyaw Win, Union Minister for National Planning and Finance as chairman and U Than Myint, Union Minister for Commerce as vice chairman. The reformed commission includes 11 new members, while U Aung Naing Oo, former Secretary of the MIC, has been […]

Who’s who: Myanmar’s new cabinet

Take a look inside the National League for Democracy’s new proposed government with insider profiles of the party’s 18 candidates for ministerial posts: Daw Aung San Suu Kyi (foreign affairs; president’s office; education; energy and electric power) The National League for Democracy leader needs little introduction. Has vowed to rule “above the president”, and with […]

Shipping group urges improved waterways

The Mandalay Shipping Association has spoken out against high taxes, supposedly charged for the restoration and conservation of waterways, that they say haven’t brought any improvements so far. The chair of the association told The Myanmar Times that the only work done on local waterways has been for show, and has been a waste of money. “I want […]

Myanmar Unprepared for Stock Market: Economist

Trading of stocks at the Yangon Stock Exchange (YSX) is expected to begin in March, giving Myanmar people another option to invest their money. Currently, people invest in the property market or the currency market, however, they are less likely to move their investments into the new stock market, a local economist said. “All of […]

Myanmar to allow exports and imports of gold

NEW DELHI (Scrap Monster): According to Than Htun Aung, Myanmar’s Deputy Minister for the Ministry of Mines, the country will introduce a new mining law that will allow exports and imports of gold . The meeting of representatives held at the Union parliament session has recommended making the precious metals import and export legal under […]

Golden push for local market plans

The Myanmar Gold Entrepreneurs Association is pushing for a solution to the fractured local gold selling market through the introduction of a central exchange with strong rules. The market’s aim is to standardise criteria for quality and pricing in line with international standards, while bringing all trading to one place, said association secretary U Kyaw […]

Gems and minerals bank to register in September

The creators of a new bank to service the gems and minerals sector will apply for a licence this month, spokesperson U Thet Naing told The Myanmar Times. If licenced, the new bank will add to a number of sector-specific banks that have opened over the past couple of years, including the Construction and Housing […]

Ministry of Mines threatens gold debtors with penalty

The companies have signed mining contracts with the state which provide for in-kind payments of gold, he said. The gold – a total of 200 viss, which equates to 20,000 ticals or 10,540 troy ounces – is owed from contracts starting in the 2007-08 financial year. Yesterday, internationally gold was at US$1119 a troy ounce, […]

Gold Demand ‘Remains High’

Purchasing gold has long been a way for Myanmar people to accrue secure savings, particularly in the absence of an efficient banking system. Today the gold market remains steady in a country with still-limited access to financial services. U Kyaw Win is the secretary of the Myanmar Gold Entrepreneurs Association, senior vice president of the […]