The military junta amended the 2020 Union Tax Law cutting the percentage of taxation on unassessed income or undisclosed sources of income with the aim, it said, to increase businesses which severely hit by the impact of the COVID-19 pandemic. The NLD administration introduced taxation on unassessed income in a...
While there are frequent power outages in Myanmar, the Ministry of Electricity and Energy under the State Administration Council said, in its second announcement on reduced power generation, that the power outage will continue due to the reclining power generation capacity of large power plants in the national grid. The...
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....
Germany-based international wholesale company METRO has announced that it will cease its foodservice distribution business in Myanmar due to the volatile investment and business environment in the Southeast Asian country, which is expected to continue for some time. "We made this decision with regret because we started 2019 with positive...
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...
အောက်တွင် မြန်မာလို ဖတ်ရှုနိုင်ပါသည် Written by Linn Thit The Central Bank of Myanmar is preparing for a QR Code System for interbank payment this year in order to overcome the barriers to interbank cash transfer allowing banks, mobile money services, and fintech to interconnect.   There are 27 private banks and 13 foreign bank...
Telenor Group has announced today that it has entered into an agreement to sell 100 percent of its mobile operations in Myanmar to M1 Group for a total consideration of 105 million USD (approximately 900 million NOK), of which 55 million USD (approximately 470 million NOK) is a deferred payment over five years. The...
BORN DIFFERENT Like most 3 year old, Thiha Zaw is outgoing and full of energy. He loves to run around with his neighborhood's kids to the point of skipping his meals. Unfortunately, he was abandoned by his biological parents and adopted by Daw Kyi Htay. He has been lucky that...
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...
အောက်တွင် မြန်မာလို ဖတ်ရှုနိုင်ပါသည် The COVID-19 pandemic has put an enormous pressure on the global economy; Myanmar's economy is no exception from it. The World Bank, in its recently released Myanmar Economic Monitor, revised its forecast for the country in the 2019-2020 fiscal year to be as low as 0.5 percent...