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.
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.
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.
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.
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.
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.
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.