Myanmar Takes Small Steps Towards Providing Greater Liquidity for SMEs

A rising number of start-ups as well as small and medium enterprises (SMEs) are emerging in Myanmar as business opportunities rise. However, many companies fail to achieve their full potential and contribute substantially to the economy because capital assistance is lacking in the country. In Myanmar, banks require collateral in the form of property before […]

A Third of Myanmar’s Population Living in Poverty

NAYPYITAW — About 32 percent of Myanmar’s 50 million population, or 15.8 million people, are living in poverty, according to an assessment of the 2015 Myanmar Poverty and Living Conditions Survey. The new report, compiled jointly by the Ministry of Planning and Finance and the World Bank, is the second of the two-part Myanmar Poverty Assessment and […]

Minister Vows to Ensure Full Power Supply for Kayin State

​ The government will takes measures to ensure Kayin State gets the electricity supply it needs and a budget to that effect has been planned, said Kyaw Win, Union Minister for Planning and Finance, at a November 24 ceremony at the Kayin State Investment Fair-2017. “As it is now the start of the season, we […]

Investment Opportunities Emerge in Kanyin Chaung Economic Zone

Investment opportunities in Rakhine State are emerging as the government ups efforts to establish a functioning economy that will create jobs and encourage stability in the region. This month, local private sector experts and businessmen were invited to a briefing promoting investments in Rakhine. Selected sectors of the economy will be prioritised under a five-year […]

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 […]