Aung San Suu Kyi, NLD Win Second Landslide Election in Myanmar

KUALA LUMPUR, MALAYSIA – Myanmar’s Aung San Suu Kyi and her ruling National League for Democracy have clinched a second consecutive landslide win in national elections, though analysts still expect slow going for democratic reforms and peace talks in the war-torn country. The Union Election Commission Saturday declared the NLD the winner of the Nov. […]

Myanmar Votes for a Continued Peaceful Transition

<a href=”” target=”_blank”><img src=”” width=”600″ height=”250″ /> </a> The National League for Democracy (NLD) won Sunday’s general election in a landslide. That’s a simple fact. The ruling party now cruises into a second term with a resounding mandate. Many pundits and “Myanmar observers” who ventured election predictions were proved wrong, yet again. Braving the risks […]

Ascent Capital closes Myanmar fund after elections

Singapore fund manager Ascent Capital Partners announced the final close of its debut Myanmar-focused fund, the Ascent Myanmar Growth Fund I LP (AMGF), on November 11. AMGF has attracted total capital commitments of US$88 million since its establishment in 2018, which it says makes it the world’s largest Myanmar-focused private equity fund. This comes after […]

MOHS allows factory workers from stay-home townships to resume work

Workers from factories and companies in Yangon have been allowed to go back to work since October 22, according to the Ministry of Health and Sports. The announcement released on October 25 stated that workers in Yangon, Mandalay, Bago and Ayeyarwady regions as well as Mon State were able to resume work starting October 22 […]

Over 220 factories in Yangon file for complete closure, temporary closure or redundancy

As Myanmar experiences the Covid-19 second wave outbreak, over 220 factories in Yangon Region have filed for complete closure, temporary closure or redundancy starting from the end of this month, said Region Minister for Immigration and Human Resources Moe Moe Su Kyi. “There are 223 factories. Among them, 53 will close down, 146 lay off […]

Myanmar parliament suggests gradually raising taxes on undeclared income

The Pyidaungsu Hluttaw Joint Bill Committee has suggested reinstating tax rates on undeclared sources of income at a gradual pace in the new fiscal year. “We suggest that the government amend the proposal to reinstate the 30 percent tax. It should instead adjust the tax brackets for undeclared sources of income so as to provide […]

Govt seeks parliament approval for US$131M loan

The government is seeking approval for a loan of US$131 million from South Korea that will be used to upgrade the country’s natural-gas infrastructure, a senior official says. “The financing is meant to be used for a project to build a pipeline for the Shwe offshore gas field that will connect to the Myanmar-China gas […]

Myanmar MPs Vote to Regulate, Tax Chinese-Backed Banana Trade

NAYPYITAW – The Upper House of Myanmar’s Parliament on Monday approved a proposal to regulate China-backed banana plantations and levy a tax on the industry. Earlier this month, parliamentarian Dr. Khun Win Thaung of Kachin State submitted the proposal to the Upper House, saying tissue-culture banana plantations operated by Chinese companies are threatening the community’s […]

Union parliament approves treaty to abolish child labour

The Pyidaungsu Hluttaw (Assembly of the Union) has approved Myanmar’s ratification of an international treaty to abolish child labour in the country, but some legislators doubt the government’s ability to implement it. The Minimum Age Convention (138) of the International Labour Organization (ILO), which includes the abolition of child labour, was approved on Tuesday. The […]