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Tech Venture Capital Firm Receives $5 Mln Investment

Myanmar’s larg­est online prop­erty portal, iMy­anmarHouse.com has announced an investment of $5 million into a venture capital (VC) fund for local tech startups, U Nay Min Thu, Managing Director of iMyanmarHouse.com, told Myanmar Business Today. “Myanmar’s tech startup community is far smaller and less developed than neighboring countries. The fund will encourage en­trepreneurs by rewarding […]

DICA Advocates for Investment in Conflict Zones

By the end of the month, the Myan­mar Investment Commission will open a branch office in Sittwe to “provide a solution to re­gional conflict,” U Than Aung Kyaw, Deputy Di­rector General of Direc­torate of Investment and Company Administration (DICA) told Myanmar Business Today. Both the Union and State governments have expressed their desire to achieve […]

Ministry Reduces Taxes For YSX Companies, Markets to Gain

The Ministry of Plan­ning and Finance reduced income-tax for companies listed on the Yangon Stock Ex­change by 5 percent to incentivize companies to list on the nascent capital market, U Htay Chun, a member of the Securities and Exchange Commis­sion of Myanmar (SECM), told Myanmar Business Today. In a bid to bolster the developing market […]

Myanmar Exports Seek Their Own, Unique, Identifying Barcode in the Vast World of Retail Products

Companies wish­ing to export their products will be­gin applying to Belgium-based global barcode as­sociation, GS1, for their country specific bar code by the end of the year. With the assistance of the Myanmar Barcode Association, companies with international ambi­tions are applying for this unique, but universally recognized barcode, to identify their product as “Made in […]

Ministry Puts Stranglehold on New Pick-Up and Van Imports

The Ministry of Com­merce has tight­ened their rules and regulations for importing commercial vehicles, spe­cifically pick-ups and vans with engines under 660 cc and weighing less than a ton. In June 2016, the Minis­try of Commerce restrict­ed Myanmar distributors from importing a range of commercial vehicles three times per month to only one per month. […]

Ministry Constructs Reduced Cost Housing For Public Servants

The Ministry of Plan­ning and Finance has announced a plan to build housing pro­jects to lease exclusively to public servants at re­duced rates, beginning later this year. The Ministry of Plan­ning and Finance has des­ignated regions in Naypy­idaw, Mandalay, Yangon, and a few other states and regions as target areas for government housing projects, according […]

Police Step Up Crack Down on ATM Card Fraud

Local banks are teaming up with the Myanmar Police Force to crack down on il­legal cash withdrawals by counterfeit ATM cards, according to the Criminal Investigation Department (CID) of Naypyidaw. In a steamed effort to stop criminals from de­frauding Myanmar ATMs, police are installing CCTV cameras around cash machines, increasing levels of security, and even […]

MPT Installs Fiber Internet Service in Downtown Yangon

On August 1 My­anmar Post and Telecommunica­tion (MPT) introduced its fiber-to-the-home (FTTH) internet service in Pabedan, a township in downtown Yangon. If there is a sustained de­mand for FTTH, MPT will extend its services to other townships, such as Latha and Kyauktada, U Thein Hoke, Deputy Chief Com­mercial Officer, told Myan­mar Business Today. “If Yangon […]

Myanmar insurance to thrive with competition and free market

U Myo Min Thu is the Managing Director of AYA Myanmar Insur­ance (AMI), one of the top three private insurers in Myanmar. AMI was created in 2013 follow­ing the liberalization of economic policy which permitted private insur­ers to enter the market. AMI is the insurance arm of AYA Financial Group, a conglomerate which also owns […]

Central Bank Issues Regulation to Avoid Large Risk Exposure

The Central Bank of Myanmar (CBM) has issued a regu­lation in efforts to curb the risks faced by lenders when taking on large ex­posure loans. The Large Exposure Regulation mandates that banks cannot lend be­yond 20 percent of their core capital to any single borrower, thus minimizing the bank’s exposure should the borrower de­fault. “Capping […]