The American Chamber of Commerce in Myanmar (AMCHAM Myanmar) recently led a financial services business delegation to Yangon and Nay Pyi Taw consisting of 13 companies to meet with government representatives and local banks from July 24-26. The goal of the mission was to help U.S. financial institutions, including banks and insurance companies, get a […]
Time to Fix the Economy With Action, Not Words
April 26, 2017 by
Economists and business owners, while acknowledging and applauding the measures put into achieving peace and stability, say the National League for Democracy-led government has largely ignored the economy during its first year in power. Some experts and entrepreneurs told The Myanmar Times that the government needs to focus on ways and means of stimulating economic growth and […]
Myanmar anticipates good prospects after opening of AIIB
January 21, 2016 by
Myanmar is anticipating good prospects after the opening of China-initiated Asian Infrastructure Investment Bank (AIIB), a finance official said here Thursday. “Our expectation and view on the opening of the AIIB are good and clear, that was why we participated as a founding member. The AIIB is assumed as a dependable bank which supports regional […]
Customers irate at futures trading firm
June 19, 2015 by
A company which goes by two names – Global Growth and Golden Global – has allegedly cheated US$1.48 million (K1.65 billion) from customers, according to local newspaper 7day Daily. The company reportedly tells clients that it is a branch of Standard Bullion, which is a member of the Chinese Gold and Silver Exchange Society. The […]
Planned stock exchange still missing a watchdog
August 7, 2014 by
Authorities have yet to set up a Securities Exchange Commission, despite suggestions that the watchdog necessary for the stock exchange planned for next year would be established last month, leaving economists disappointed. According to the Securities Exchange Law passed at the end of July last year, the SEC must be created to monitor transactions on […]
Next change for new-look MIC? Independence
June 3, 2014 by
The Myanmar Investment Commission is to be made independent of the Ministry of National Planning and Economic Development in the near future, the body’s new secretary told The Myanmar Times last week following a reshuffle that saw it expand from 11 to 13 members. “The MIC will become independent like the Central Bank. But we […]
Parliament rejects 200% tax increase on tobacco and alcohol
March 12, 2014 by
NAY PYI TAW—The Union Parliament on Monday (March 10) rejected a private member’s bill that proposed a 200 percent tax increase on tobacco products and alcoholic beverages. Members of parliament voted instead to maintain the current “vice tax” rates. Myanmar currently imposes a 100-percent tax on cigarettes and a 50-percent tax on other tobacco products […]
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