76% of exporters affected by COVID-19
Myanmar’s export industry has suffered under the COVID-19 pandemic since the disease first began to spread within China. A new survey has quantified the damage: 76% of Myanmar exporters have been moderately to severely affected by the pandemic,
China approves new rice exporters
China has granted export licenses for rice to 43 new Myanmar companies. A spokesperson from the Myanmar Rice Federation (MRF) said that the new licenses should boost the volume of rice Myanmar sells to China, which has suffered both from the COVID-19
Government expects economy to rebound next fiscal year
Although most forecasts have predicted almost no growth this fiscal year, the Ministry of Planning, Finance and Industry expects the economy to rebound to near pre-pandemic levels. On July 13, U Set Aung, deputy minister of the Ministry of Planning,
Tax amnesty on unassessed income to be repealed
A de-facto tax amnesty on unassessed income will likely be repealed. U Maung Maung Win, deputy minister of the Ministry of Planning, Finance, and Industry, told parliament that a 30% tax on unassessed assets will be imposed in the coming fiscal year.
Gold prices rise globally, fall in Myanmar
Although the value of gold is rising on global markets, prices are falling in Myanmar. While gold is selling for around USD 1800 per ounce in the global market, Myanmar’s gold traders are currently selling for around USD 900 (MMK 1.22 million)
