Mandalay warns business license holders who violate regulations

The Mandalay City Development Committee (MCDC) has vowed to crack down on abusive businesses, such as those that secure contracts for collecting parking fees under the government’s auction system. The warning was issued as the MCDC on Saturday auctioned off six-month business licenses for the April 1 to September 30 period and one-year business licenses […]

Yangon to get three fish-farming zones

The Fisheries Department will establish three livestock breeding zones for the production of international-standard marine products in three townships in Yangon in 2018-2019 fiscal year, said a department official. The department is working to develop livestock industries in Kayan, Thonegwa and Kwanchangone townships, said Tun Win Myint, director of the Fisheries Department. Some 10,000 acres […]

Yangon elevated expressway doesn’t need MIC approval: official

The Yangon elevated expressway project is a government-to-government project and it doesn’t need approval from the Myanmar Investment Commission (MIC), according to the MIC. “Government-to-government projects are not submitted to the MIC. If the investment is made by public, private and partnership and as a developer, it is submitted to the MIC. The infrastructure projects […]

In dirt-poor Myanmar, smartphones are transforming finance

MYANMAR’S democratic transition sometimes seems marked as much by continuity as by change. Depressingly, the army continues its bloody persecution of Rohingya Muslims in the west, for example (see article). But elsewhere moves to open the country’s markets, started by the preceding military regimes, have gathered pace. New commercial and financial services are springing up. […]

MP calls on Yangon to convert idle buildings and land into money earners, job generators

A regional legislator has proposed that the Yangon government seizes idle buildings and land plots and turn it into productive assets that would not only earn income for the government but also generate employment for the people. MP U Hla Htay from Mingalar Taung Nyunt township noted in his proposal to Yangon Region Parliament on […]

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 […]

Myanmar to learn from Malaysia on ease of doing business

In order to raise its rank on the World Bank’s ease of doing business index, a Myanmar delegation recently visited Malaysia, which is much higher on the index, to study the situation there. Their findings will be reported to the ministries and Vice President, said U Aung Soe, director of the Myanmar Trade Promotion Team. […]

High potential of Myanmar Economy

The topic of economic transformation in Myanmar was thoroughly discussed at the Forum on Myanmar Democratic Transition held from 11 to 13 August 2017 in Nay Pyi Taw. The talks could generally be summed up that despite the slow economic take-off in Myanmar, the good potential of the Myanmar economy will be seen in the […]

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 […]

Mandalay: 107 restaurants and a hotel fined for not having stamp duty

The Internal Revenue Department fined the owners of 107 restaurants and a hotel who failed to bear the stamp duty in their sale vouchers in Mandalay for the period from April to September, 2016, said U Kyaw Aung Moe, Assistant Director of Regional Internal Revenue Department. “It is not our country alone that assesses taxes—every […]