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Oway of Myanmar migrates to Google Cloud in six weeks, leverages Virtusa to reduce costs

Virtusa has migrated Oway Group to Google Cloud during a six-week project designed to ensure the Myanmar-based travel and ride-hailing start-up remained flexible during Covid-19. In response to the challenging impact of the pandemic on travel – and the need to immediately reduce expenses – Oway partnered with Virtusa to leverage Google Cloud’s Migrate for […]

Myanmar to enjoy investments from Japan, access to trade area under RCEP

Bilateral economic cooperation between Myanmar and Japan will be strengthened during the post-COVID-19 period. Stronger ties are needed to ease the impact of the coronavirus on businesses, Japanese officials said during the Myanmar Japan Investment Dialogue held on July 29. Based on the geography of Myanmar, there is ample room for economic growth and Japan […]

Grab expands financial products portfolio

The Investor/ANN – Grab Financial Group, the financial technology arm of Southeast Asia-based ride-hailing app Grab, on Tuesday rolled out a series of consumer financial services, including microinvestment and microloan schemes. The company’s new strategy, “Thrive With Grab,” includes microinvestments, third-party consumer loans, microinsurance and a pay-later program, expanding its formerly merchants- and small businesses-focused […]

Myanmar sharpens focus on helping local MSMEs amid COVID-19

Owners of local Micro, Small and Medium Enterprises (MSMEs) have voiced satisfaction over the government’s interest in the sector after U Ye Min Oo, Yangon Minister for Planning and Finance and Chair of the Region MSME Development Agency, met with local MSME owners on July 28. “This is the first time our association has met […]

UMFCCI proposes delay in tax regulation changes to ease business conditions

A proposal to delay changes to the 2020 Union Tax Bill has been submitted to the government on behalf of local businesses, said U Aye Win, General Secretary of the Union of Myanmar Federation Chamber of Commerce and Industry (UMFCCI). The changes include repealing a tax amnesty for Myanmar citizens with unassessed sources of income. […]

Taunggyi to conduct first Covid-19 test in August

The first laboratory test for COVID-19 using Real Time RT-PCR in Taunggyi, Shan State, will take place in the first week of August after a month’s delay, according to a spokesperson of the Ministry of Health and Sports. “Both equipment and place are ready. Testing will start in the first week of August,” said director […]

Millions of families receive first cash handouts under COVID-19 relief scheme

Millions of the nation’s most vulnerable families are receiving cash handouts totalling K40,000 to alleviate the impact of COVID-19, but some appear to be falling through the cracks. By HTIN LYNN AUNG | FRONTIER Daw Ni Ni Win, a 48-year-old mother of two, lives a precarious existence. She and her husband sell boiled beans (pe […]

Myanmar govt plans to purchase more reserve rice

The government is planning to purchase an additional 20,000 tonnes of rice for its reserves, said U Ye Htut Naing, director of the Department of Consumer Affairs under the Ministry of Commerce.The government first announced that it would be purchasing 50,000 tonnes of rice from local farmers for reserve purposes earlier this year, when COVID-19 […]

Government to sell affordable housing via balloting system

The government will sell a number of low-cost apartments via a lucky-draw system, rather than a physical auction, to avoid large gatherings amid the COVID-19 pandemic. “The list of eligible buyers has already been announced, and the next step will be to draw the names of applicants from a draw. We will invite MPs and […]

Small businesses essential for Myanmar’s COVID-19 recovery: DaNa

Small businesses are essential for Myanmar’s economy to recover as economic growth is forecasted to slow to zero due to COVID-19, according to a recent report from UK-funded DaNa Facility.The report was made for the government by DaNa Facility in cooperation with the International Trade Centre and the United Nations to review the impacts COVID19 […]