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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 […]

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 to Lift Ban on Livestock Export

The government has signalled its latest measure to boost the country’s agriculture and husbandry industries by offering loans to farms and lifting the ban on livestock export, according to the Ministry of Planning and Finance. At a meeting with Vice President U Myint Swe and businessmen on July 20, Union Minister for the Ministry of […]

Myanmar Readies Reforms to Liberalize Insurance Market

NAYPYITAW — Myanmar intends to release within three months a blueprint for insurance market reforms that include allowing foreign insurers to underwrite and sell policies, the head of state-run Myanma Insurance said here Wednesday. Managing Director Sandar Oo outlined the reforms from the Ministry of Planning and Finance, which oversees Myanma Insurance, in a presentation at Myanmar Investment […]

World Bank to Loan $100 Million to Myanmar Financial Development Project

WORLD Bank and government representatives recently signed an agreement for a US$100 million (K134.9 billion) World Bank loan to the Myanmar Financial Development Project in mid-April. The representatives signed the loan for SDR71.700 million, which equals US$100 million, from the World Bank with low interest. Ulrich Zachau, country director, Southeast Asia, East Asia and Pacific […]

Pay Hike for Civil Servants Unlikely

Hopes for a pay rise this month will likely remain a pipe dream for civil servants, according to an official from the Ministry of Planning and Finance. The ministry official said no recommendation on increasing the salaries of civil servants had been made during the parliament meeting to discuss the Union budget, denying rumours that […]

NLD’s One-Year Anniversary: Government’s Economic Focus a Little Thin on Substance (I)

While a year has passed since the new government proclaimed “It’s time for change”, there’s no evidence of substantive changes for the private sector. Bureaucracy, lack of policy clarity and political uncertainty have dampened the mood of businesses. One year has almost passed since the new government took office with the slogan that shouts “It’s […]

Yangon Relaxes Truck Use Restrictions

​​ Restrictions on the use of container trucks in Yangon are being relaxed, according to the regional Ministry of Planning and Finance. Minister Myint Thaung told a meeting that the container trucks from the ports of Asia World and the International Terminal Thilawa had been allowed to go to Hlinthaya Township from 11am to 3pm. Another meeting on the subject took place between military-appointed Vice President […]