Forex brokers in Myanmar benefit from stable kyat

The Myanmar kyat has been stable between K1300 – 1325 per US dollar for the last three months. This has helped forex brokers make profits in the local currency market. The current price of the local currency has touched 2016 levels, and is at its strongest levels against the US dollar since 2018. A stable […]

Changes in petroleum law could give Myanmar a boost in oil and gas investments

Changes in a petroleum law in Myanmar could help the Southeast Asian country attract investment in to the oil and gas sector, while reducing the growing strain on depleting domestic oil and gas reserves, according to a report by Fitch Solutions Macro Research. With Myanmar among the few under-explored upstream markets in Asia and interest […]

Govt to remove withholding taxes from April 1 to support businesses

The Inland Revenue Department (IRD) is planning to stop levying withholding tax starting April 1 onwards in a bid to boost the economy, it revealed during a weekend discussion. The discussions, which took place with the Yangon Regional Government, Union of Myanmar Federation of Chambers of Commerce and Industry and other business associations, were held […]

Lottery sales raise Ks19bn

The Aungbarlay State Lottery Department says it made more than Ks19 billion from selling Ks500 lottery tickets for the six-monthly lottery. The department said more than Ks11 billion would be used for more than 120,000 prizes. It said 42,300,000 tickets had been sold over six months. A total of 47 single and combined alphabets were […]

Investment laws may be combined, says official

The Foreign Investment Department is considering combining the foreign and Myanmar citizens’ investment laws, its director in chief, U Aung Naing Oo, told Mizzima on December 4. U Aung Naing Oo stressed that no consideration was being given to amending the Foreign Investment Law, which was promulgated on November 3, 2012. “We are just thinking […]

In Myanmar, Newly Free Media Struggle to Turn a Profit

YANGON, Myanmar — Myanmar’s journalists celebrated this year when the government lifted a five-decade ban on private newspapers. But six months after a dozen dailies rushed into production, journalists who had withstood the wrath and cruelty of a military dictatorship are struggling against something much more mundane: market forces. Despite expectations of pent-up demand, publishers […]

60% of Investment Already Paid for Suspended Myitsone Dam: Chinese Developer

The Chinese backer of the Myitsone dam project says more than half the funds to construct the multi-billion-dollar project have already been paid to Burma, although the project was suspended last year. Sixty percent of a total $3.6 billion in investment to build the controversial hydropower dam project in Kachin State has been paid, according […]