Thursday, August 25, 2016
The Myanmar Times
The Myanmar Times

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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Yangon to develop river transport express system

The Yangon Region government is planning to build a river express system for passengers – part of fundamental transport reforms that government officials hope will bring a new wave of industrial goods and commuters onto the country’s waterways.

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Rice price rises in Nay Pyi Taw

To the surprise of industry insiders, the price of rice in Nay Pyi Taw continues to rise. As of the last week of July, the price of one popular brand had reached almost K850,000 per 100 tins (each tin holds 9 gallons), entrepreneurs said.

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Ministry to halve hotel and tourism licence fees

The Ministry of Hotels and Tourism will cut licence fees by 50 percent from October, to support the country’s nascent tourism industry, director general U Tint Thwin told The Myanmar Times.

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Yangon officials wind up industrial land review

The Yangon Region government has finished a review of land price speculation in the city’s 29 industrial zones, which ultimately aims to free up thousands of vacant plots to be developed into factories.

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Showroom owners call for clear automobile import policy

Confusion over car import policy could put off foreign investors, showroom owners are warning. They say investors who want to introduce new vehicles are unable to do so because of frequent changes in the rules.

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