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...
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 Shwe Taung Real Estate Co., Ltd, the real estate arm of Shwe Taung Group, has entered into a joint venture with AEON MALL Co., Ltd., a member of Japan’s Aeon Co Ltd, a listed conglomerate, to invest, develop, manage and operate large scale shopping malls in Myanmar....
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...
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...
The Privatization Commission under the Ministry of Commerce will sell under open tender 25 properties it owns in Bago, Yangon and Mandalay regions. The tender form can be obtained from the Office of the Privatization Commission in Naypyidaw from November 13 to December 12. The properties for sale in Bago Region...
The Municipal Committee of Naypyidaw recently announced it will sell 197 land plots of 6,400 square feet each in Dekhina Thiri Township for a reduced price of K25 million. The land plots will be sold to those who will actually occupy them. Buyers will be required to build fence and...
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...
Japan has expressed interest to participate in the Dawei Special Economic Zone located in the Tanintharyi Region, according to U Myint San, Vice President of the Management Committee for SEZ.  Myanmar, on November 5,  invited international partners to invest in the SEZ project under Government to Government Collaboration and received...
Japanese drinks giants Kirin Holdings booked an impairment loss of over 21.4 billion yen ($193 million) in the six months through June on account of its beer production businesses in Myanmar. But it is not planning to exist in Myanmar, Reuters reported quoting senior executive officer Toru Yoshimura from Kirin,...