Representatives call for review of SOE law

Representatives of Parliament have urged lawmakers to review an existing law under which the government must bail out loss-making State-owned enterprises (SOEs) with public funds. A total of 17 out of the 26 Myanmar SOEs under the Union budget are expected to turn a profit in 2018-19, commencing October 1, according to the Ministry of […]

Myanmar’s Planning and Finance Minister Submits Resignation

NAYPYITAW — Planning and Finance Minister U Kyaw Win has submitted his resignation to the president amid reports that he is being investigated by the Anti-Corruption Commission and the Bureau of Special Investigation (BSI), sources close to the matter told The Irrawaddy. Since last week, news reports have circulated alleging that the minister and his […]

Are municipalities Myanmar’s champions of reform?

2017 was a difficult year for Myanmar. The rocky peace process and crisis in Rakhine have complicated the government’s effort to put together a reform agenda following five decades of authoritarian rule. In such a challenging context, it is easy for bureaucratic inertia to set in and for people within government to become more risk […]

Bago Region’s tax revenue relies on excise, fishery and property taxes

Bago Region relies heavily on excise, fishery and property taxes as regional tax revenue, while its construction ministry spends 39 percent of the budget, mainly on road improvement. Bago government revenues have increased more than 150pc since 2013 while the grant transfer from the Union government to the region has grown more than 290pc in […]

Myanmar Has One of The Lowest Tax Takes in The World

INSIDE a noodle house in central Yangon, business is buzzing. Customers huddle over tables, slurping down chicken soup or gobbling dumplings. Everyone pays in cash. Few customers ask for receipts. When your correspondent does so, one is handed over, complete with government-issued stickers. But the cost of the meal goes up. On the vast majority […]

Fixing the Myanmar economy

Major structural overhauls have to be carried out so the country can maximise its potential for growth. Myanmar’s economy is projected by the World Bank to grow by an average of 7 percent between 2017 and 2019. Last year, GDP rose by 6.5pc. That’s among the fastest growing economies in Asia, alongside the likes of […]