Banks receive boost as Myanmar urges citizens to beef up savings

The number of adults who save via banks is at a measly 11%. Banks in Myanmar can start looking forward to a larger liquidity pool as the country drafts a National Savings Mobilisation Strategy to encourage its citizens to save more, reports The Myanmar Times. “Despite rising volume of savings at local banks, more is […]

Industry debates tax levels after easing gold trade

Speculation has been rife over the level of duties involved in the import and export of gold since the trade was liberalised last month, allowing gold to move freely in and out of the country via air, sea and border routes. Although the authorities have yet to make any announcements, industry insiders reckon a 15 […]

Taxation Rate for Jade Mining Blocks Likely to be Reduced by Half

The rate of taxation levied on jade mining blocks could possibly be reduced by half, subject to ongoing negotiations, said U Myint Pe, Yadana Thein Gay Har Company from Kani area. Jade mining companies have to pay taxes after the extracted jade stones are appraised. The companies and authorities are in discussions about the possible […]

Meet Mandalay’s jade matriarchs

It’s the men who haggle at the markets, but Myanmar’s jade industry is run predominantly by women, and they are optimistic about its future despite the moratorium on jade mining Every morning at 9am, the intersection of 86th and 40th streets in Mandalay is awakened by the clanging of jade bangles. Traders and brokers in […]

Jade and jewelry exports fetch over US$57million in four months

The export of jade and jewelry in four months of this fiscal year (FY) fetched over US$57million in four months of this fiscal year, it is learnt from the Ministry of Commerce. The export of raw jade from 1st April to 31st July in this FY amounted to US$53.016 million, with an export volume of […]