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

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

Foreign insurers have pumped USD 127 million into Myanmar

A new rule allowing foreign insurers to operate in Myanmar has resulted in over USD 127 million in foreign direct investment (FDI), according to a report by the Myanmar Investment Commission (MIC). The Ministry of Planning, Finance and Industry began
Myanmar to open up Yangon stock exchange to foreign investments

Yangon Stock Exchange will open to foreigners amid general corporate reform

Next month, foreigners will be able to make trades on the Yangon Stock Exchange as Myanmar continues to refine its corporate infrastructure and open its markets to direct foreign investment. In July of last year, the Securities and Exchange Commissio

Singaporean and Norwegian firms latest to invest in Myanmar banking

Singaporean sovereign wealth firm GIC Pte and Norwegian firm Norfund AS will invest in Yoma Bank, becoming the latest to take advantage of new finance rules that allow foreign firms to buy stakes in Myanmar financial institutions. GIC will buy 20 per

Government banks will merge

Four government-owned banks will eventually merge into one entity in order to streamline their operations, especially for small-scale lending. Union Minister of Planning, Finance and Industry U Soe Win made the announcement at a workshop for micro,