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Gold mine officials accused of making false claim

The Myanmar Anti-Corruption Commission has charged three directors of gold mine concessionaire National Prosperity Co (NPC) with submitting a false claim accusing civil servants of corruption. NPC managing director U Tun Aung Soe submitted the complaint to the commission requesting an investigation of the alleged illegal extraction of gold and other minerals by civil servants […]

Businesses misusing farmland face hefty fines, warns minister

The government will punish people and companies that use farmland for purposes other than growing crops with a fine of 30 percent of the land’s market value. The government-led Leading Committee for Farmers Rights, Protection and Promoting of Interests set the penalty at a meeting earlier this month, said U Aung Thu, committee secretary and […]

Parliament passes gemstone bill amid criticism

Myanmar’s parliament has passed a controversial bill governing the gemstone sector, paving the way to restart the licensing of mining companies after a two-year moratorium. Upon taking office in 2016, the National League for Democracy-led administration suspended issuing new or extension of existing gemstone licences pending a governance review intended to clean up the sector. […]

Central bank to issue official remittance licences soon

The Central Bank of Myanmar (CBM) will grant official remittance Llicences to authorised money changers within two months, CBM Deputy Governor U Bo Bo Nge told the media on Wednesday. The move is expected to curb illegal remittances and the informal flow of foreign currency into the country under the Hundi, U Bo Bo Nge […]

Myanmar, Thai universities to ink MoU for cooperation Posted

The universities of Myanmar and Thailand plan to sign a memorandum of understanding (MoU) for cooperation in the education sector very soon, according to Myeik University. Myanmar’s Myeik University and Thailand’s Phetchaburi Rajabhat University will ink the MoU during the last week of January and the first week of February, 2019. The MoU will include […]

What to expect from Myanmar’s top five export sectors

Even though Myanmar managed to bring down its trade deficit by US$500 million to $1.3 billion during the period between April 1 and September 30 from the same period last year, the volatile exchange rate and rising oil prices may well continue to drive up import costs in the coming months. U Yan Naing Tun, […]

Confusion emerges after foreign liquor ban

At a liquor store in downtown Yangon, bottles of whisky and wine are on display. Upon closer inspection, one soon notices that wines from Argentina to New Zealand are for sale, but only whiskies made locally are available. “Foreign liquors are not on display because we are not allowed to sell them,” the sales assistant […]

Business Community Counters Gov’t Reasons for Kyat Depreciation

While Myanmar’s government has blamed currency manipulation and the trade war between the United States and China for the record depreciation of the kyat against US dollar, business circles are pointing out the Myanmar government’s mismanagement and the Central Bank of Myanmar’s poor performance. The kyat-dollar exchange rate has increased steeply from 1,344 kyats per […]

Kyat rebounds after re-export activities suspended

The spike in the exchange rate between the US dollar and Myanmar kyat appears to have tapered after the Ministry of Commerce (MOC) on August 17 temporarily suspended re-exports of sugar and diesel. “We suspended re-exports of sugar and diesel because the cash flows involved are huge enough to influence the exchange rate,” said U […]

Waiting for Godot: farmers seek return of seized land

Farmers in Myanmar are still waiting for justice as many of their lands were confiscated by government officials, military personnel, authorities and their cronies for various reasons, a new report from New York-based Human Rights Watch (HRW) revealed. The NGO launched the report “Nothing for Our Land: Impacts of Land Confiscation on Farmers in Myanmar” […]