Businesses call for lower taxes amid slowing economy

Myanmar businesses are urging the government to lower the country’s tax rates to alleviate pressure from the rising dollar exchange rate and slowdown in demand in recent months. According to the quarterly Business Sentiment Survey by the Union of Myanmar Federation Chamber of Commerce and Industry (UMFCCI) released last month, Myanmar’s high taxation rates are […]

Myanmar’s manufacturing PMI rises to 49.3 in August

TOKYO — The Nikkei Myanmar Manufacturing Purchasing Managers’ Index, or PMI, rose slightly to 49.3 in August from 49.1 in July. A reading above 50 indicates economic expansion, while a reading below 50 points toward contraction. The latest data marked the third consecutive month of contraction. “Higher raw material prices were commonly cited as the […]

Myanmar’s emerging rich

As Myanmar’s economy steadily grows, a higher percentage of Yangon’s population are finding themselves with more cash to spend. Imported products from Thailand and Hong Kong can be seen on display in downtown shopping malls – something that would have been impossible two years ago as foreign goods were banned under the military junta. Big […]