Business

Foreign trade volume at US$23.5billion

 

Foreign trade volume is over US$23.5billion,  US$61million more compared to the same period of last year, according to the Ministry of Commerce. Up to February 10, Myanmar received more than US$23.5billion from foreign trade, of which US$17.3billion came from overseas trade and more than US$6.1billion from border trade.

Top Myanmar retailer to launch e-wallet with Thai technology

AS MYANMAR has enjoyed a dramatic increase in the number of data users over the past three years, its leading retailer City Mart Holding Ltd plans to launch its first e-wallet service in mid-2017 with the support of T2P, a Thai FinTech company belonging to Benchachinda Holding Co.

Stalled housing projects in Yangon to resume

Plans are under way to resume construction of stalled housing projects in Yangon Region, said Phyo Min Thein, Yangon’s Chief Minister.

Phyo Min Thein made the comment at a regular meeting of Myanmar businessmen at the YMFCCI office on February 18.

Foreign countries, including Japan, have proposed upgrading old housing projects in Yangon.

Region gov’t to supply farmers with inputs: Yangon Region Chief Minister

 

The regional government has started working to provide farmers with loans, technology and inputs for the implementation of advanced farm projects, said Yangon Region Chief Minister Phyo Min Thein.

“For the development of agricultural sector, we are drafting a master plan which enables the agricultural sector to enter the supply chain system. Last year, the region government allotted about Ks 10 billion in RE budget for advanced farm projects,” he added.

Planning and Finance Ministry to take over MIDB

 

The Myanmar Agricultural Development Bank under the Ministry of Agriculture, Livestock and Irrigation will be under the management of the Ministry of Planning and Finance starting April 1, said Kyaw Win, Union Minister for Planning and Finance.

MEB launches money transfer services via Krung Thai Bank in Thailand

Myanmar Economic Bank (MEB) has launched money transfer services for Myanmar migrant workers in Thailand with the cooperation of Krung Thai Bank. Additional services fees will not be applied, according to the MEB.

Vietnamese firms eye investing in Myanmar

HANOI (Viet Nam News/ANN) - Vietnam is among the top 10 foreign investors in Myanmar, with nearly 80 businesses pouring in investment worth US$1 billion in the host country..

24 hotels and 14 guest houses to get green light - Minister

 

 

Until January of this fiscal year, the government granted the permission to 24 hotels and 14 guest houses in Taunggyi, Nyaungshwe, Mandalay and Bagan (not the ancient region), said Union Minister for Hotels and Tourism Ohn Maung.

Online job searches on the rise according to survey

 

Tax on bank interest due next year

The Internal Revenue Department (IRD) will start collecting income taxes on bank interest in 2018 but apply this rule only to those who have deposited millions of kyats, said its director general Min Htut.

"We will start preparing to implement it. Under the Income Tax Law, people shall have an obligation to pay their taxes for their income. Now we will implement it step by step. We will take time to educate the people about it," he added.