Myanmar more use of LPG, locally produced oil for cooking

Myanmar will distribute liquefied petroleum gas (LPG) to one million local households this fiscal year as part of a national plan to reduce the use of electricity and firewood when cooking, said U Win Khaing, Minister for Electricity and Energy. At one million, it is estimated that around 10 percent of the country’s households will […]

Tourism revenue in Myanmar dips 80% during COVID-19

Revenue from tourism has dropped by more than 80 percent, or around US$2.3 billion, since the pandemic in Myanmar, according to a survey by the Ministry of Hotels and Tourism. The survey covers the tourism sector together with other related sectors like international airlines, domestic transportation, food and beverage, accommodation, entertainment and culture as well […]

Myanmar commerce ministry declares import licence list

Import licences will now be required for around 4000 kinds of goods in Myanmar. This will take effect on December 1, the Ministry of Commerce announced. Traders for a total of 3931 goods categories including live animals, meat and fish, edible oil, vegetables and crops, forest products, beverages, mineral fuels, chemicals, medicines, automobiles and machinery […]

Myanmar commerce ministry declares import license list

Import licenses will now be required for around 4000 kinds of goods in Myanmar. This will take effect on December 1, the Ministry of Commerce announced. Traders for a total of 3931 goods categories including live animals, meat and fish, edible oil, vegetables and crops, forest products, beverages, mineral fuels, chemicals, medicines, automobiles and machinery […]

Foreign partners poised to aid growth in Myanmar’s life insurance sector

YANGON—While joint-venture proposals from foreign insurance companies are being reviewed by the country’s insurance business regulatory board, some of Myanmar’s largest insurance companies are already building bridges to leverage foreign expertise for the growth of Myanmar’s nascent insurance industry. After two years of delays, Myanmar began allowing insurance companies to operate in the country’s life […]

Local government warns tardy cement plant projects in Myanmar

Myanmar: U Aung Kyaw Thu, the Hluttaw representative of Mon State Parliament and chairperson of the public budget scrutiny, finance planning and economics matters review committee has warned that cement plant projects granted licenses by the Myanmar Investment Commission (MIC) that have not implemented their plans will not be granted permission to extend their licenses. […]

Foreign insurance firms may start operations by April 2019: regulator

Qualified foreign insurance providers will receive licenses to operate in Myanmar by April next year. “I can assure it is happening within the next 16 weeks,” U Thant Sin, Director of the Financial Regulatory Department under the Ministry of Planning and Finance, said during the UK Capital Market and Insurance Conference in Yangon on December […]

PanAust Secures New Exploration License in Myanmar

PanAust is pleased to announce that it has secured three new exploration licenses in Myanmar on Thursday 5 July 2018, following approval by the Government of the Republic of the Union of Myanmar on 21 June 2018. The licenses are the first awarded under the Myanmar Union government’s new mineral regulations. PanAust’s headquarters is in […]

Yangon chief ministers lay outs plan to improve fish farming

The government will cooperate with Myanmar Fisheries Federation (MFF) in reforming the current fish farming system in fishery sector, said Yangon Region chief minister Phyo Min Thein. He blamed little profit for results from conventional farming and called for better services in transporting fishery products through cold storage factories. The chief minister said the government […]

Property taxes worth less than a cup of tea

Bi-annual property taxes paid by many urban residents in Myanmar are merely worth the price of two cups of tea, according to an August study conducted by Yangon-based Renaissance Institute, which is funded by the UK, Australia and Switzerland with support from The Asia Foundation. In Yangon, the amount collected over the same period is […]