Yangon Internal Revenue Dept. Sets 10 Percent Lower Property Price

The Yangon Price Valuation Board of the Internal Rev­enue Department under the Ministry of Planning and Finance released a new price rate for proper­ty, 10 percent lower than last year. This year’s price valu­ation establishes prop­erty to cost K500,000 per square foot, down from K550,000 the previous fiscal year. The Price Valuation Board sets the […]

Crop Insurance System Expected to Launch This Fiscal Year

A coordination meeting on the introduction of insurance services for farmers and fishers was held at the Union of Myanmar Federation of Chambers of Commerce and Industry in Yangon on August 19. In a Facebook post, Myanmar Rice Federation (MRF) general-secretary Ye Min Aung said: “The nod given by the Myanmar Insurance Business Supervisory Board […]

Ministry Constructs Reduced Cost Housing For Public Servants

The Ministry of Plan­ning and Finance has announced a plan to build housing pro­jects to lease exclusively to public servants at re­duced rates, beginning later this year. The Ministry of Plan­ning and Finance has des­ignated regions in Naypy­idaw, Mandalay, Yangon, and a few other states and regions as target areas for government housing projects, according […]

Draft Companies Law designed to remove obstacles for foreign investment

A new Myanmar Companies Law currently being drafted by legislators will remove cumbersome restrictions and make foreign investment easier, said Dr Myat Nyana Soe, the secretary of Amyotha Hluttaw Bill Committee. “The draft law was approved by Amyotha Hluttaw and the amendments made by Aymotha Hluttaw and Bill Committee are already submitted to Pyithu Hluttaw. […]

Parliament Rejects e-Lottery Bill

Pyidaungsu Hluttaw has rejected the government-proposed Aungbarlay Lottery Bill which hopes to introduce e-lottery and provisions that would allow private-government partnership in lottery operations. U Tun Tun Hein, member of Pyidaungsu Hluttaw Joint Bill Committee, told The Myanmar Times that as Aungbarlay Lottery Bill was sent back to the government. “Hluttaw cannot accept the fact […]

Government Steps in to Limit Re-Exports of Sugar

The Union Govern­ment is stepping in to control sugar re-export and call for invest­ment to help the industry get on its feet, according to U Kyaw Win, Union Minister of Planning and Finance. The Union Minister emphasized the need to stamp out re-export in favor of stronger national production and the pro­motion of value-added industries […]

Suu Kyi Government Brings Back Myanmar’s ‘Mr. SEZ’

YANGON — Myanmar’s government has brought a key architect of the previous administration’s economic policy back into the fold, aiming to bolster confidence in the business community. President Htin Kyaw’s office on Monday announced the appointment of Set Aung, until recently the deputy governor of the central bank, as deputy minister for national planning and […]

Ministry to Lift Ban on Livestock Export

The government has signalled its latest measure to boost the country’s agriculture and husbandry industries by offering loans to farms and lifting the ban on livestock export, according to the Ministry of Planning and Finance. At a meeting with Vice President U Myint Swe and businessmen on July 20, Union Minister for the Ministry of […]

Tenders to be invited for sub-Ks100 million projects in Rakhine

Subscribe to our tender alert mailing list Rakhine State government has announced yesterday that it will invite tenders for projects with investments of not more than Ks100 million. The announcement came at the coordination meeting on inviting tenders for the projects for the 2016-2017 financial year. “We envision development and security in Rakhine State with […]

Department to call for tenders to upgrade three domestic airports

Subscribe to our tender alert mailing list The tender call invites developers who are interested to upgrade the infrastructure projects through a public-private partnership (PPP) system, U Ye Htut Aung, deputy director general of DCA told The Myanmar Times. Public-private partnerships between a government agency and private-sector company can be used to finance, construct and […]