Saturday, July 30, 2016
The Myanmar Times
The Myanmar Times

Government reveals 12-point economic policy

The government has presented its long-awaited economic policy in which it aims to develop a market-oriented system “in all sectors” and establish an economic framework in support of national reconciliation.

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Insecticide credit system hurts farmers

Insecticide prices in Myanmar are much higher than they should be, because sellers are using a credit system, an official has said, with some farmers paying three or four times the market price to keep pests away from their crops.

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Tour guides call for fair tax policy

Tour guides are grappling with a tax system they say charges them different rates in different parts of the country, and expects them to pay throughout the year for work that only lasts six months.

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Indian multinational plans agricultural expansion

Indian multinational conglomerate Mahindra Group is looking for local partners across a range of sectors including agriculture and automobiles as part of a planned expansion into Myanmar, the group’s chief risk officer told The Myanmar Times.

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Emirates faces challenges to Myanmar collaboration

Emirates airlines is eager to work with local carriers and travel agents when it starts Myanmar operations in August. There are regulatory and technical hurdles to commercial cooperation, but also signs some barriers will be broken down.

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MIC warns companies to follow reporting requirements

The Myanmar Investment Commission will begin field inspections of companies that fail to submit quarterly performance reports, in the hope of encouraging better corporate practice, secretary U Aung Naing Oo told The Myanmar Times.

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Govt to offer financial support for Yangon PPP bus lines

Yangon Region government aims to overhaul the city’s chaotic bus lines by allowing companies to form public private partnerships. These new joint ventures will also be allowed to open petrol stations to help them stay profitable, Chief Minister U Phyo Min Thein (NLD) said.

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Govt drafts labour law for foreign workers

The government is drafting a foreign labour law to govern the growing number of international workers seeking opportunity in Myanmar, parliament heard yesterday.

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Jade mining permit extensions suspended

The government will not renew mining permits for jade and gems when they expire and will only consider issuing new permits once by-laws to the Myanmar Gemstones Law have been passed, the Ministry of Natural Resources and Environmental Conservation said yesterday.

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Tax receipts fail to meet target

Tax receipts in the second half of last financial year fell below the government’s target, parliament heard on July 25. Fresh back from recess, Pyithu Hluttaw will be concentrating on budget-related matters as it enters its second session.

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