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Govt order to close businesses in Covid-hit Yangon for two weeks likely to cause financial difficulties NEWS

As some businesses in Yangon city need to halt operation after the government’s announcement on a strict stay-at-home order, it will trigger financial woes and difficult living conditions, some local sources say. Since the order was announced at 8 pm on September 21, some shops and businesses in the city have closed while some others […]

Myanmar businesses expect stronger economic agenda in November elections

Traffic passes along Sule Pagoda Road in downtown Yangon. Photo: Nyan Zay Htet/The Myanmar Times Myanmar businesses expect stronger economic agenda in November elections While economic growth has not been listed as one of the top three priorities in the ruling party’s manifesto, politicians are paying more attention to the private sector ahead of the […]

Myanmar’s COVID-19 Center Yangon Imposes More Restrictions as Cases Soar

Yangon – Myanmar’s Ministry of Health and Sports has instructed garment factories in Yangon to close for two weeks and ordered other businesses to work from home to curb the spread of COVID-19. Every township in Yangon Region, except for the islands of Cocokyun Township, faces stay-at-home orders since the government on Monday expanded its […]

Indian investors interested in Myanmar opportunities, but more govt support needed

Despite travel restrictions and other setbacks as a result of COVID-19, investors from India have shown a great interest in expanding into Myanmar and some have even proposed novel ideas on boosting business and trade between the two countries, said Sunil Seth, President of the India-Myanmar Chamber of Commerce (IMCC). Since international flights to and […]

Businesses in Myanmar urged to register trademarks in line with new law

Business owners should register their trademarks in line with the Trademark Law to streamline the process of shifting from the first-to-use system to the firstto-file system, the Ministry of Commerce (MOC)announced on August 28. The first-to-file system grants trademark owners the right for registration of the mark to the person who files his application under […]

Businesses want momentum in energy sector sustained beyond Myanmar elections

Myanmar needs to continue pushing out power tenders and policies to develop and reform its energy sector beyond the November elections, according to keynote speakers at a Yangon corporate briefing. Speakers at a panel discussion about the Myanmar energy sector acknowledged the reforms rolled out over the last 12 months intended to attract private investments […]

Mandalay property market hits COVID-19 doldrums, but prospects intact

Mandalay’s real estate sector had been growing steadily before the COVID-19 pandemic struck but land prices may now start falling, opening up a rare opportunity for buyers to take a serious look at the market, according to a major developer in Myanmar’s second largest city. U Kyaw Kyaw Win, head of New Star Light Group, […]

Drop in sales for luxury cars

Though prices for imported cars have dropped significantly over the past few months, sales for luxury vehicles have remained low. Very few cars above K20 million have been sold during August, representatives from car trading centers claim. “People anticipate that the stamp duty for changing ownership may increase from 3 to 6 percent. There are […]

Myanmar extends financial support measures for local businesses

The Ministry of Planning, Finance, and Industry on September 7 issued Notification 3/2020, which extends existing support measures granted due to COVID-19 until December. In accordance with a decision at the coordination meeting of the National-Level Central Committee on Prevention, Control and Treatment of Coronavirus Disease 2019 (COVID-19) held on August 26, the MOPFI said […]

Entertainment businesses in Yangon remain restricted

The Yangon regional government on August 19 instructed recreational businesses such as KTV lounges, bars and nightclubs, including those operating in hotels, to remain closed to avoid spreading COVID-19. The decision comes after the Ministry of Health and Sports warned of a potential second wave of COVID-19 in Myanmar following the detection of four locallytransmitted […]