Investigations Find Tax Avoidance in Most Auto Sale Centers

As a result of inves­tigations, the Min­istry of Commerce has frozen the bank ac­counts of 70 nationwide automobile sale centers for failing to adhere to rules and regulations. Each bank account con­tains a minimum of K1.5 million, which is a prereq­uisite for obtaining a li­cense from the Ministry of Commerce to import and distribute automobiles. […]

Government Steps in to Limit Re-Exports of Sugar

The Union Govern­ment is stepping in to control sugar re-export and call for invest­ment to help the industry get on its feet, according to U Kyaw Win, Union Minister of Planning and Finance. The Union Minister emphasized the need to stamp out re-export in favor of stronger national production and the pro­motion of value-added industries […]

Government Plans to Ship Fuel From Thilawa to Yangon in a Bid to Slash Transport Costs

The Yangon govern­ment has unveiled a proposal to begin transporting oil and pe­troleum products from Thilawa to Yangon via ship in a bid to reduce transportation costs in­curred by consumers at the pump, a chief minister has said. Under the proposal small oil tankers, with a capacity of up to 3,000 tonnes, would load up […]

$50m Offshore Oil and Gas Supply Base in Ayeyarwaddy Gets Go-Ahead

The Myanmar In­vestment Com­mission (MIC) has green-lighted a $50 mil­lion proposal to build an offshore oil and gas sup­ply base in Ayeyarwaddy Division. The facility at Nga Yoke Kaung Bay would provide berths for construction and supply vessels, ware­houses, cranes and lift­ing equipment, helicopter rescue facilities and oil spill equipment and will play a crucial […]

MPT to Enter Nascent Mobile Money Sector ‘This Year’

​​ State-backed telco Myanma Post and Telecommunica­tions (MPT), plans to launch its own mobile money services this year which would put it in di­rect competition with Tel­enor’s Wave Money, and Ooredoo, who are soon to unveil their own mo­bile money service, in the country’s fledgling mobile financial services sector, the head of MPT Mobile Money […]