Foreign investment reported to be on the rise
After a downturn in 2018, foreign direct investment (FDI) is picking up for Myanmar. An analysis by the Institute of Chartered Accountants in England and Wales (ICAEW) forecasts higher FDI. Also, they forecast the Myanmar economy to expand at 6.4 pe
Power production hits 5,600 megawatt in Myanmar
The Ministry of Electricity and Energy (MOEE) says Myanmar is now producing 5,600 megawatt of power per year. It will not stop there, according to a report by Eleven Media. Rising demand for power and the government’s ambitious nationwide elect
Saudi drone attacks impact on local fuel prices
Industry experts are predicting that the recent spike in global fuel prices results in higher petroleum product prices. It is expected that it will make Myanmar fuel imports more expensive. Myanmar imports diesel and petrol from Singapore a
Myanmar slices taxes on undeclared income in de facto amnesty law
Myanmar’s Union Parliament has approved the 2019 Tax Law, cutting taxes for unassessed income to rates as low as three percent. The new law serves as a de facto amnesty for individuals and businesses with high levels of undeclared income. Under
Ministry of Agriculture proposes loan for rural development
The Myanmar government is weighing a potential loan of USD 185 from the Asian Development Bank (ADB). The loan is aimed to be used for wide-ranging rural development initiatives. U Hla Kyaw, deputy minister for the Ministry of Agriculture, Livestock
