Taxes support economic growth, stability and fairness: ministry

The 2017-2018 FY’s national planning; union ministries’ policies, aims, processes and priorities stated that the government will set up a taxation system which will support economic growth, stability and fairness. 

It states that each policy set by the state is going to be implemented in the 2017-2018 fiscal year. 

Foreign insurance companies will be allowed to do business this fiscal year

According to deputy minister for Finance and Planning Maung Maung Win, the government is planning to allow foreign insurance companies to do business this fiscal year.

Currently, only three Japanese companies are allowed to do business in Thilawa Special Economic Zone and the Ministry of Finance and Planning is preparing for the implementation of nationwide coverage as well.

Construction industry in decline in early 2017

Almost 90 per cent of the construction industry of Myanmar is led by small and medium Enterprises (SMEs) and the industry’s ability to make profit has been declining since early 2017, according to Myanmar Builders Guide (MBG). 

Myanmar e-commerce leader pushes for expansion

THOUGH a large percentage of Myanmar’s 53-million population still prefer going out to shop, more than half a million people visit, the nation’s leading e-commerce platform, for online shopping on a monthly basis, said its chief.  

Sumit Jasoria, managing director of, said in an exclusive interview that the firm was seeing some good growth for its business in Myanmar now, though the platform was built up less than three years ago. The firm spent about six months doing market research before entering the country. acquires UK technology for $600,000

AS TOUR OPERATORS in Myanmar are eyeing to partner with foreign firms to serve their clients better,, the nation’s leading hotels and tours services website, has acquired, a London-based start-up specialising in building reservations platforms for the hotel and airline industry, for US$ 600,000.

Rice sector expected to fetch export earnings of $700 million

Export earnings from the rice sector are expected to earn US$700 million in 2017-2018 fiscal year, according to the Myanmar Rice Federation (MRF).

The country exported 1.4 million tonnes of rice in 2012-2013 FY, 1.2 million tonnes 2013-2014 FY and 1.8 million tonnes in 2014-2015 FY, 1.4 million tonnes in 2015-2016 FY and 1.7 million tonnes in 2016-2017 FY, according to the figures released by the commerce ministry.

Ministry to produce teak legally

The minister for natural resources and environmental conservation said the teak would be produced in the most possible environmentally friendly way.

Ohn Win said: “To provide transparency in logging the Myanmar Timber Enterprise will let the ministers, MPs and civil-society organisations observe the whole process, from cutting down the trees to transporting starting from the fiscal year 2017-18. We will produce teak with credentials.”

The ministry is trying to export wood products legally to the US and EU markets.

507 eateries fined for failing to give tax stamps

A total of 507 restaurants in Yangon Region were fined for failing to stick tax stamps on the receipts in the fiscal year 2016-17.

Myint Thaung, the Yangon minister for finance, told the regional parliament on April 24 in reply to the question about the state of taxation from MP Kyaw Kyaw Htun of Hlaing Township.

Myanmar to ease restrictions to create loan opportunities for pvt sector

By Xinhua

World Banks loans $100m

The government has signed