Myanmar’s largest online property portal, iMyanmarHouse.com has announced an investment of $5 million into a venture capital (VC) fund for local tech startups, U Nay Min Thu, Managing Director of iMyanmarHouse.com, told Myanmar Business Today. “Myanmar’s tech startup community is far smaller and less developed than neighboring countries. The fund will encourage entrepreneurs by rewarding […]
DICA Advocates for Investment in Conflict Zones
September 15, 2017 by
By the end of the month, the Myanmar Investment Commission will open a branch office in Sittwe to “provide a solution to regional conflict,” U Than Aung Kyaw, Deputy Director General of Directorate of Investment and Company Administration (DICA) told Myanmar Business Today. Both the Union and State governments have expressed their desire to achieve […]
Ministry Reduces Taxes For YSX Companies, Markets to Gain
August 31, 2017 by
The Ministry of Planning and Finance reduced income-tax for companies listed on the Yangon Stock Exchange by 5 percent to incentivize companies to list on the nascent capital market, U Htay Chun, a member of the Securities and Exchange Commission of Myanmar (SECM), told Myanmar Business Today. In a bid to bolster the developing market […]
Ministry Puts Stranglehold on New Pick-Up and Van Imports
August 11, 2017 by
The Ministry of Commerce has tightened their rules and regulations for importing commercial vehicles, specifically pick-ups and vans with engines under 660 cc and weighing less than a ton. In June 2016, the Ministry of Commerce restricted Myanmar distributors from importing a range of commercial vehicles three times per month to only one per month. […]
Ministry Constructs Reduced Cost Housing For Public Servants
August 11, 2017 by
The Ministry of Planning and Finance has announced a plan to build housing projects to lease exclusively to public servants at reduced rates, beginning later this year. The Ministry of Planning and Finance has designated regions in Naypyidaw, Mandalay, Yangon, and a few other states and regions as target areas for government housing projects, according […]
MPT Installs Fiber Internet Service in Downtown Yangon
August 10, 2017 by
On August 1 Myanmar Post and Telecommunication (MPT) introduced its fiber-to-the-home (FTTH) internet service in Pabedan, a township in downtown Yangon. If there is a sustained demand for FTTH, MPT will extend its services to other townships, such as Latha and Kyauktada, U Thein Hoke, Deputy Chief Commercial Officer, told Myanmar Business Today. “If Yangon […]
Myanmar insurance to thrive with competition and free market
August 10, 2017 by
U Myo Min Thu is the Managing Director of AYA Myanmar Insurance (AMI), one of the top three private insurers in Myanmar. AMI was created in 2013 following the liberalization of economic policy which permitted private insurers to enter the market. AMI is the insurance arm of AYA Financial Group, a conglomerate which also owns […]
Central Bank Issues Regulation to Avoid Large Risk Exposure
July 27, 2017 by
The Central Bank of Myanmar (CBM) has issued a regulation in efforts to curb the risks faced by lenders when taking on large exposure loans. The Large Exposure Regulation mandates that banks cannot lend beyond 20 percent of their core capital to any single borrower, thus minimizing the bank’s exposure should the borrower default. “Capping […]
