Business

ADB upbeat on Myanmar growth despite challenges

 

Despite the slowdown of gross domestic product growth in fiscal year2016-17 that ended in March 31, Asia Development Bank has forecast that Myanmar will grow further from this year onwards if it can address some challenges.

 

Myanmar businesses urged to support peace process

In a bid to enhance private sector contribution to the nation-building endeavours, local businesses on Tuesday gathered at the office of the Union of Myanmar Federation of Chamber of Commerce and Industry to celebrate the launch of the Business for Peace initiative in Myanmar.

Lawyer advises businesses to brace for competition law

 

CBM issues loan information dept rules

The Central Ba

FOIEA calls for review of foreign investment in fuel market

YANGON- Fuel Oil Importers and Exporters Association (FOIEA) submitted a proposal for a review of foreign investment in Myanmar’s fuel market to the Ministry of Planning and Finance Ministry, according to Dr. Win Myint , secretary of the FOIEA at the press conference.

FOIEA denies monopolization of fuel market

YANGON - The Fuel Oil Importers and Exporters Association (FOIEA) said at a press conference yesterday that they are not monopolizing the Myanmar fuel market - they are simply following government regulations which allow every citizen to import and export fuel.

427 mining licences won’t be renewed as environmental plan drawn up

The Ministry of Natural Resources and Environmental Conservation has announced that 427 mining licences will expire this month.

The companies whose licences have run out are based in Lonekhin, Hpakant, Moehnyin, Moghoke, Mongshu and Khamti. Most of the sites were granted their licences as early as 2010.

The ministry further said it would not extend the licences and was preparing an environmental management plan.

Yangon buses fares to be adjusted according to length of trip

Bus fares for all except air-conditioned vehicles will be adjusted more appropriately to the journey taken from this week, according to the Yangon Region Transport Authority (YRTA)

Joint Secretary Than Win stated that short trips will cost as low as Ks100 while fares for certain bus lines will cost up to Ks1000.

Yangon govt working to make land prices affordable for SMEs

The government is working to make land prices more affordable for local and foreign small and medium enterprises (SMEs) in Yangon Region, said the Electricity, Industry, and Transportation Minister Nilar Kyaw for Yangon regional government at the regional parliament on April 3.

IRD tax revenues increase

Min Htut, the director-general of Internal Revenue Department said it is on course to generate tax revenues of Ks 5,361 billion during 2016-2017 fiscal year.

The IRD’s earnings come from special good tax, income tax, commercial tax, lottery tax and stamp tax. It is on course to collect Ks 360 billion more than expected.