As the Agri-input prices have increased compared to the previous years, farmers in Myanmar worry that it will impact crop yields. "Fertilizer prices are on the rise. This year, we can't buy the fertilizers on credit unlike previous years," U Win Nyunt, a farmer in Magway Region, said. The price for...
If you want to withdraw cash from your bank account in Myanmar, you need to get up as early as at least 4 a.m and go to an ATM-not any ATM but ATM where your bank chooses to refill cash. Then wait for hours to have your turn to...
Local gold price, which has skyrocketed reaching over K1.7 million following the coup by the military, now has dropped as much as K200,000 as the price decreased to around K1.5 million per tical (tical= 16.3 g). On May 26, the domestic gold market closed with K1.5 million per tical while...
Major Japanese retailer Aeon has decided to postpone its $180 million shopping mall project in Myanmar due to the political turmoil in the country, according to NHK reports. Aeon planned to start the construction process this year and expected to open the mall by 2023. The project is a joint venture...
After the dollar rate drastically surged from around K1,300 per dollar before February to K1,720 within just over three months, the Central Bank of Myanmar is planning to sell $1.6 million through money changers on May 13, according to local money changers. "We are to buy dollars from the central...
Most of the companies both local and foreign companies were planning to increase investments in January 2021, according to the joint survey conducted by ten foreign chambers of commerce, but now companies have halted their plans to increase investment after political events in February 2021. A total of 372 companies...
Last Saturday, Myanmar’s Union Election Committee announced a victory for Daw Aung San Suu Kyi’s National League for Democracy (NLD) in the 2020 Myanmar General Election. The party won 83 percent of the seats in the Union Parliament, which exceeds even the number of seats gained in the previous...
U Ohn Maung, Union Minister of the Ministry of Hotels and Tourism, said that Myanmar’s dream of receiving five million tourists in 2020 was blown away by the COVID-19 pandemic.  “Myanmar was on its track to receive over five million tourists in 2020 for the first time in its history....
Daw Aung San Suu Kyi, the State Counsellor of Myanmar, has pledged that no one will be left out from K40,000 assistance, the fourth batch of government financial assistance. “We will never knowingly leave anyone . If someone does not get the assistance, we will provide him or her. Therefore,...
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...