Daw Suu under pressure to drop car import licences for govt officials

Daw Aung San Suu Kyi greets her supporters after the meeting with government officials and people in Bago in March 2019. Daw Suu under pressure to drop car import licences for govt officials Exclusive: Daw Aung San Suu Kyi’s government is under renewed pressure to drop plans to award tax-exempt car import licences to senior […]

Govt officials to be given vehicle import licences

The commerce ministry is set to grant individual licences to senior government employees to import vehicles without going through official car dealerships, according to a ministry memo seen by this newspaper. A notice from the Ministry of Commerce said senior government officials will be allowed to import cars – with models selected by the ministry […]

Official remittance licences now available for migrant workers

Workers are now able to apply for official remittance licences to transfer money between Myanmar and other countries, according to the Central Bank of Myanmar (CBM). The move, which commenced on November 15, is aimed at facilitating money transfers to Myanmar by migrant workers based overseas. A deposit of K100 million is required to apply […]

The wait’s nearly over for foreign insurers

After waiting years to enter the Myanmar market, foreign insurance companies have been told they can expect to be granted operating licences within months. The licences will be issued under an industry liberalisation plan that was delayed for more than a year – a hold-up that the regulator, the Insurance Business Regulatory Board, has defended […]

Yangon home to over 300 karaoke places

Yangon Region has more than 300 karaoke places, according to a cabinet minister. Karen ethnic affairs minister Naw Pan Thinzar Myo revealed the information February 7 to a Yangon regional parliamentary session in reply to MP Kyi Pyar from Kyauktada Township who asked for the exact number of the businesses and the fees they pay […]

Dealers hurt by jade arrests

The dealers of uncut jade pieces in Hpakant Township, Kachin State, say they are hurt by continuous jade arrests. The arrests began this year where the police and army inspect cars and motorcycles at the city gates for uncut jade pieces. The dealers say they have to pay money to recollect the confiscated jade later. […]

CBM Restrictions on Foreign Banks to be lifted ‘Soon’- Deputy Governor

The governor of the the Central Bank of Myanmar (CBM) has said restrictions that stop foreign banks offer­ing retail services in My­anmar will be lifted ‘soon’. Deputy Governor U Set Aung told a July 10 Pyithu Hluttaw meeting that it’s time foreign banks were allowed to open branches across the nation and pro­vide their retail […]

Asean’s last frontier outbound market to bloom?

WE have it on good authority that Myanmar’s Ministry of Hotels and Tourism is stepping up its enforcement of the outbound travel sector by making it compulsory for travel companies in the country to apply for licences to offer overseas trips for Myanmar nationals. In general, tour companies have been offering air tickets, hotels and […]

Scramble behind the scenes as Yangon Stock Exchange nears launch

Just a week before Myanmar’s first modern stock exchange is set to open on December 9, a much-delayed announcement on the names of securities companies has not yet been made, underwriters have not received licences and domestic IPOs seem a distant dream. Ten companies have been offered conditional underwriting licences for the Yangon Stock Exchange, […]