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Tax amnesty could spell big changes for Myanmar

How would you feel if a big part of your monthly salary was taxed while your boss paid almost nothing? Or if your small business paid its tax and your competitor didn’t? Not too happy, and probably worse upon hearing the Myanmar government’s plan to offer these tax cheats an amnesty. Instead of facing penalties, […]

Berjaya Land to build smart affordable homes in Myanmar

Berjaya Land is making a foray into building smart affordable homes here with a gross development value (GDV) of US$624 million. Disclosing this, Country Head and Chief Executive Officer Datuk Pee Kang Seng said the project, expected to take off in 2020, is located about 40 minutes from downtown Yangon on a 74.05 hectare piece […]

Myanmar Set to Ink Pact with China on Border Cooperation Zones

The Myanmar government is ready to sign a framework agreement with China on the establishment of cross-border economic cooperation zones, paving the way for the implementation of Beijing’s grand infrastructure plans in the country as part of its Belt and Road Initiative (BRI). The assistant permanent secretary and spokesperson for the Ministry of Commerce, U […]

Conditions Nearly Set for Dawei SEZ Initial Phase to Begin: Govt Committee

YANGON— The Myanmar government is currently negotiating the conditions precedent (CPs) with the concessionaires for the initial phase of construction work on the Dawei Special Economic Zone (SEZ), a US$8-billion (about 12.16 trillion kyats) project that includes a deep seaport. The strategic project in southern Myanmar’s Tanintharyi Region is set to be Southeast Asia’s largest […]

Tourism Ministry : Tender for Marketing Collateral. Closing Date 14 Aug 2019

REPUBLIC OF THE UNION OF MYANMAR MINISTRY OF HOTELS AND TOURISM DEPARTMENT OF TOURISM PROMOTION Invitation for Tenders In conformity to the Tenders Guidelines of Myanmar government, Directorate of Hotels and Tourism under the Ministry of Hotels and Tourism would like to invite proposals for “Making Design for Tourism Promotional Materials such as Destination brochures, […]

Myanmar govt to launch roadmap for financial inclusion

FOLLOWING liberalisation of the banking and insurance sectors by allowing 100 per cent foreign direct investment (FDI), Myanmar plans to launch a financial inclusion road map by next month, according to Thant Zin, director at the Financial Regulatory Department (FRD). He told the 4th Emerging Asia Banking and FinTech Summit 2019 on Tuesday that Myanmar […]

Gov’t to Buy Electricity from China to Cover Shortfall

YANGON—The Myanmar government plans to buy 1,000 MW of electricity from a Chinese state-owned enterprise to meet an expected electricity shortage over the next two years. Myanmar, which already has Southeast Asia’s lowest rate of access to electricity, has recently been plagued by regular power blackouts due to water shortages at hydropower plants following severe […]

Myanmar’s Yangon International Airport reveals growth plans

Myanmar’s Yangon International Airport is to be further upgraded to better equip it to accommodate more international traffic. Operator, Yangon Aerodrome Company Limited (YACL), has also revealed that it is stepping up its marketing efforts in a bid to develop its international route network. The announcements come despite the airport admitting that it is likely […]

UMFCCI calls on Myanmar gov’t to stabilize exchange rate

YANGON, Aug. 30 (Xinhua) — The Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) has submitted a plan to the government for stabilizing the rising exchange rate, the official Global New Light of Myanmar reported Thursday. The four-point plan, submitted to State Counselor Aung San Suu Kyi during a recent meeting with […]

Visa on arrival for Indians visiting Myanmar

Indians wishing to travel to Myanmar will soon be able to do so without applying for a visa beforehand. Starting August 8, the Myanmar government is set to provide visa on arrival facility, suspending the special land entry permission which was formerly required for visitors entering the country via land routes. The Myanmar government decided […]