Government announces new MIC appointments, U Thaung Tun as new chair

The Union government on Saturday officially announced changes in the ranks of the Myanmar Investment Commission (MIC). According to notification (61/2018), U Thaung Tun, union minster of Ministry of the Office of the Union Government, formerly a member of the MIC, will now be the commission’s chair. Meanwhile, Dr Than Myint, Union Minister of Commerce, […]

Tax amnesty under review

A review on tax exemption is being conducted and it will be reformed as it is too complicated, said Union Minister for Commerce Dr Than Myint. Following widespread criticism of an unfair taxation system, the Union parliament cancelled the tax exemption bill planned to be passed in 2018. Under the Union Taxation Bill 2018, the […]

Myanmar insurance industry poised for reform, awaits liberalisation

Insurance providers in Myanmar can expect a more competitive and promising landscape on which to do business in the near future. With market liberalisation, which will enable firms to offer a wider variety of insurance products, on the government’s agenda, local and foreign providers alike have already started training staff and building management and IT […]

Myanmar woos Indian investors in bid to support healthcare sector

Myanmar is stepping up efforts to draw much-needed investments into its healthcare sector. During a Market Outreach Programme hosted by the Export-Import Bank of India on Monday, the country sought to promote opportunities and discuss the challenges involved in expanding the sector. The event was attended by Indian investors and healthcare professionals. With demand for […]

US Investment in Burma Forecasted to Increase

RANGOON — US investment in Burma has strong potential to increase this year, experts said at a US-Burma Economic Relations seminar in Rangoon on Monday. Entitled “US-Burma Economic Relations: The Next Phase,” the seminar was jointly organized by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) and the United States Chamber […]

Myanmar’s clothing industry promises growth

Myanmar’s clothing industry is expected to grow as a result of the country’s readmission to a preferential EU trading scheme, according to sources from the industry. The European Union readmitted Myanmar to its trade preference scheme on June 12 which grants developing nations preferential access to the 27-nation bloc for several products in the form […]