Businesses will enjoy tax breaks, soft loans during pandemic
The Ministry of Planning, Finance, and Industry (MOPFI) will give tax breaks and financial assistance to businesses in industries hit by the global COVID-19 pandemic. These include suspending the 2 percent Advance Income Tax (AIT) on exported goods a
Returning migrants threaten efforts to seal borders
The government has attempted to close border checkpoints after confirming its first cases of COVID-19. However, border security has had to reverse and delay its attempts to keep people from crossing due to hundreds of thousands of migrant workers see
Central Bank slashes interest
The Central Bank of Myanmar will slash interest rates by an additional 1 percent after lowering them by 0.5 percent earlier this month. The move will bring the reference interest rate down to 8.5 percent in an attempt to stimulate an economy affected
First COVID-19 cases confirmed as country prepares for worst
The Ministry of Health and Sports has announced its first confirmed cases of COVID-19 in Myanmar. At the time of writing, three people have tested positive for the disease. The first two cases, both Myanmar citizens, were a 26-year-old man arriving f
Myanmar officially virus-free despite lockdown
Myanmar remains one of the only countries in Asia with no official cases of the COVID-19 coronavirus. Nevertheless, the country has redoubled its prevention efforts, banning travelers from the hardest-hit countries and pouring resources into domestic
