The Myanmar Times
Friday, 31 October 2014
The Myanmar Times
The Myanmar Times

Restaurants must show labels as proof of tax payments

Restaurant will be required to mark their receipts with a security label to show customers have paid a 5 percent commercial tax on their meals starting November 1, according to Internal Revenue Department director U Min Htut.

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Unleashing entrepreneurship’s potential

The economy requires structural change and technological catch-up for growth to be inclusive in Myanmar. Economic policy and development partners need to promote entrepreneurship in order to unleash the potential of a growing private sector. What’s more, the stranglehold of the current political elites must be eased and economic policy must benefit all.

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Rice brokers stop buying as unsold stockpiles rise

A dramatic fall in the volume of rice exports has dragged prices downwards and threatens to drive small farmers off the land, farmers’ advocates have warned.

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Regulatory sun shining on large solar project

The government has greenlit a Thai firm's plan to spend US $350 million building a 220 megawatt solar power generating station.

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State energy firms to professionalise, minister pledges

The Ministry of Energy is planning to pursue more joint ventures with foreign companies, as senior government officials have urged state-owned enterprises to professionalise or risk being reformed.

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Indian trade primed to grow

Obstacles such as frequent border closures need to be overcome if both India and Myanmar are to follow through on plans to grow bilateral commerce.

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Onshore block signing delayed

An uncertain situation in Pakistan is delaying the signing of agreements governing the last two oil onshore blocks in Myanmar, according to officials.

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KFC targets middle-class future

KFC plans to position its fare as aspirational products when it opens its doors in Myanmar in 2015, as its owner Yum! Brands announced a deal with Singapore-listed, Myanmar-focused Yoma Strategic Holdings to bring its popular chicken to the country.

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Reform in the works for state-owned banks

Prominent state–owned banks must rapidly reform or risk being removed, according to senior government officials.

 

 

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Paddy price plunge hits farms

Paddy prices have taken a big hit from a recent drop in demand from China, as border officials have strangled the bilateral rice trade by stepping up efforts to prevent illegal imports.

 

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