The Microfinance Businesses Supervisory Committee has issued a notice ordering Microfinance companies to waive the loan repayments, both interest and capital, due in November and December until April Next Year and the installment payment until May and October Next Year.  The order covers the areas, Yangon, Bago, and Rakhine State,...
Even though the country's trade seems to be mildly impacted by the COVID-19 last fiscal year, the Union Minister of the Ministry of Commerce has called for precautions to mitigate the impact of the pandemic in the 2020-2021 Fiscal Year as there are more possibilities of the impact.  “We can...
The local gold market saw only a slight price fluctuation without reflecting the global gold market where the gold price dropped. The global gold price was at $1,906 per ounce on October 24 and dropped to $1,881 on October 29. However, the local gold price stood at K1.3115 million per kyattha...
Yangon Real Estate Market is sluggish with more selling offers in contrast to very few buyers during the COVID-19 pandemic, according to real estate agents. “People have less cash in their hands and started selling their properties. But there are very few buyers and even fewer transactions,” a real estate...
The Shan State Government will implement five tourism cities to lure more visitors into the state, according to U Soe Nyunt Lwin, Shan State Minister for Planning and Finance.  “Shan State Government will implement five tourism cities in Shan State and the first tourism city will come into existence. During...
New Yangon City Development Project has received 16 Expressions of Interests (EOI) submitted by companies and consortiums from nine countries in the Swiss Challenge for the first package of works launched on October 15, 2020, by the Swiss Challenge Tender Committee. It is the Committee’s objective to apply a structured...
The United States has offered to provide technical assistance to help boost investments into Myanmar during the meeting between the U.S. International Development Finance Corporation (DFC) and the Ministry of Investments and Foreign Economic Relations. U Thaung Tun, Union Minister of the Ministry of Investments and Foreign Economic Relations, received...
Foreign direct investment inflow into Myanmar performs better than some of the neighboring countries, Daw Aung San Suu Kyi, the State Counsellor of Myanmar and Chairperson of National Committee for Coronavirus Disease 2019 Prevention, Control and Treatment.  “When it comes to foreign investment, our country’s FDI inflow performs better than...
Yangon City Development Committee, UMFCCI, and its partner associations launched a mobile commodity shop program in Yangon on October 26.  In the program, the mobile shops will go around the townships in Yangon to sell essential commodities to the residents so that they do not need to go to the...
Myanmar has seen increased foreign and local investment in September 2020, according to investment data for August and September from Myanmar Investment Commission. In August, the commission approved $40.992 million foreign direct investments while the approved investment in September reached $507.159 million. Looking at the investment by sector, the industrial sector...