Car import permits down 60pc in 2017-18

Applications for the import of passenger vehicle is down by more than 5,000 so far this fiscal year compared to the same period in the previous fiscal year, said U Aung Htoo, deputy minister for Ministry of Commerce. The government has been trying to limit the import of cars to control traffic congestion in the […]

Yangon allocates additional K47 billion budget

The Yangon Regional government allocated K47 billion supplementary budget for fiscal year 2017-2018 to fund several road construction and rehabilitation projects, the regional minister of planning and finance said. U Myint Thanung, regional minister of planning and finance, said the additional budget was necessary since the original estimated regional budget of K424.2 billion was already […]

Foreign and domestic investments rise during govt’s first fiscal year

In the National League for Democracy (NLD) government’s first fiscal year in power local investors made investments amounting to K1.57 trillion while foreigners made investments worth a total of US$7.44 billion in Myanmar, Deputy Minister of Planning and Finance U Set Aung said at the Pyidaungsu Hluttaw on August 31. DURING the 2016-17 fiscal year, […]

Draft condominium bylaw to be ready in two months

The condominium bylaw which is currently being drafted will be enacted soon, and it will include the right for the buyers to be connected to banks and purchase with an instalment system, said U Min Htein, director general of the Department of Urban and Housing Development (DUHD) under the Ministry of Construction. “As it’s a […]

Children’s rights bill inconsistent over child labour regulations

Sections within the draft law are inconsistent over the minimum working age, and child employment in many sectors remains unregulated A children’s rights draft law introduced to Pyidaungsu Hluttaw on July 7 fails to address inconsistencies between existing domestic laws regarding child employment and the legal minimum working age. The bill does not tackle grey […]

Lawmaker Complains That Tender Process Isn’t Fair or Transparent

Daw Cho Cho of Ottwin constituency told the Pyidaungsu Hluttaw during its meeting yesterday in Nay Pyi Taw that the government was procuring contracts without public tenders or enough transparency and, as a result, had made unwarranted budget allocations for substandard public works projects. Daw Cho Cho said that many of the companies winning such […]

Parliament Rejects e-Lottery Bill

Pyidaungsu Hluttaw has rejected the government-proposed Aungbarlay Lottery Bill which hopes to introduce e-lottery and provisions that would allow private-government partnership in lottery operations. U Tun Tun Hein, member of Pyidaungsu Hluttaw Joint Bill Committee, told The Myanmar Times that as Aungbarlay Lottery Bill was sent back to the government. “Hluttaw cannot accept the fact […]

Can the central bank’s new guard save businesses in Myanmar?

Among the nominees for deputy governor are economist and retired Budget Department of the Ministry of Planning and Finance officer U Soe Thein, incumbent deputy governor U Soe Min and existing member of the board U Bo Bo Nge. Meanwhile, the newcomers to the Board include former deputy director general of the Union Attorney General’s […]

Foreign Firms May Be Allowed to Join Myanmar E-Lottery Business

A stamp-duty amendment and government lottery bills that would open the e-lottery business to all were submitted to Pyidaungsu Hluttaw on July 14. The government lottery has been operating since 1938 under orders and instructions without a proper law, thus a government lottery bill had to be drafted and submitted, Minister for Planning and Finance […]

Tender to Be Called for Highway Upgrading

Subscribe to our tender alert mailing list The Ministry of Construction will call for international firms to tender for upgrading works on a 40-mile section of the Yangon-Nay Pyi Taw-Mandalay Highway starting at Yangon, the ministry’s Permanent Secretary U Kyaw Lin said on April 10. The upgrading works, which will use an Asia Development Bank’s […]