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COVID-19 shuts down a third of Myanmar businesses

Nearly one third of companies in Myanmar have temporarily closed because of the coronavirus lockdown and the vast majority of those still operating have reported lower turnover, according to the Asia Foundation. A nationwide poll of 750 local businesses – the largest survey so far of the impact of the pandemic – covered the two […]

Myanmar tourism businesses prepare to reopen

Myanmar tour companies are preparing to organise tours again, which had been suspended since February as part of the government’s efforts to prevent the spread of COVID-19, an official of a local travel association said. Daw Aye Thida Moe, vice chair of the Union of Myanmar Travel Association, said tour companies are awaiting government guidelines […]

Businesses call for reopening of border pass with Myanmar

PRACHUAP KHIRI KHAN: Business operators in this lower Central province have called for the government to reopen the Singkhon border pass with Myanmar, saying its closure has affected the province’s trade and investment. The villagers of Mu Dong have resorted to buying consumer goods from Mergui town in the far south of Myanmar, said provincial […]

Too few are getting access to Myanmar govt’s emergency COVID fund: businesses

Of the 200 companies eligible to receive a government COVID-19 soft loan, just 20 qualify for funding of more than K100 million. These included firms in manufacturing, trading and industry. Out of the 70 tourism and hotel-related companies that qualified for financing, just one, Inle Princess, was eligible for a loan of K100 million and […]

Retail businesses lament high rental fees, now going online

Retail business owners are grumbling over shop rental fees in Yangon malls, which they say remain high despite the drop in footfall and demand as a result of COVID-19. “We are all doing business and so it should be give-and-take on both sides. The high rental fees during this time is not convenient for us […]

Provide aid to foreign-owned garment businesses also: ambassador

South Korean and Chinese stakeholders in Myanmar are urging the authorities to review the possibility of providing a stimulus package for foreign investors in the local garment industry at a time when the supply of raw materials has stalled and importers from the West have begun to cut orders from Myanmar’s factories. Myanmar’s manufacturing industry […]

Myanmar Govt Suspends Advance Tax on Exports to Aid Virus-Hit Businesses

YANGON—Amid calls from the business community for government assistance to cushion the economic impact of the global coronavirus pandemic, Myanmar’s State Counselor announced a waiver of the 2 percent advance income tax on exports until the end of this fiscal year. The current fiscal year 2019-20 started on Oct. 1 and ends on Sept. 30. […]

Vietnam Eases Border Trade Restrictions With China to Help Virus-Hit Businesses

HANOI/LANG SON—Vietnam has eased restrictions on cross-border trade with China to prop up economic activities hit by the new coronavirus, the Ministry of Industry and Trade said on Thursday. China is Vietnam’s largest trading partner and the Southeast Asian country’s manufacturing sector relies on it for materials and equipment. China is also Vietnam’s key market […]

A Golden Opportunity for Cloud Services in Myanmar

Businesses in Myanmar are growing rapidly in no small part due to the cloud services offerings from Golden TMH (GTMH). With offices in Mandalay and Yangon, the company is one of the leading telecommunications companies in the nation. GTMH’s solution portfolio is diverse, with numerous services that span the entire software stack — including cloud-based […]

DaNa Facility launches report on small businesses in Kachin State

UK aid-funded DaNa Facility and Dutch development organisation Cordaid has launched their groundbreaking study on small businesses in Kachin State with the aim of unlocking opportunities for these businesses to grow. The report “The Ecosystem for Small and Medium-Sized Enterprises in Kachin State” was launched this week in Myitkyina Palm Spring Resort, which was attended […]