The Myanmar Investment Commission (MIC) is planning to delegate the power to approve certain investments to regional authorities, U Aung Naing Oo, director general of Directorate of Investment and Company Administration (DICA) told The Myanmar Times.
Yangon has higher living costs for expats than Paris and Sydney, according to Mercer’s Cost of Living Survey 2015. But this is largely due to a major discrepancy between the living choices made by expats and locals, according to local businesspeople.
During the 52nd Gems Emporium in Nay Pyi Taw, a pair of rough rubies sold for 801,000 euros (US$884,000), although the floor price for the lot was 600,000 euros. This was the highest bid of the auction, according to the Gems Emporium Committee.
Government spending on the military is unlikely to be transferred to more productive sectors such as health and education until the true quantity of spending is made clear to internal monitoring bodies and the voting public, according to a report by the Asian Development Bank (ADB).
Myanmar has adopted a managed float exchange rate system. How does this system work? A useful way to find out is to look at how China has used such a system to fix the exchange rate of its currency the renminbi (RMB) against US currency the dollar ($).
Myanmar's economy is overheating and risks hitting a “perfect storm” of a currency crisis particularly if the United States raises interest rates in the short term, the International Monetary Fund has warned. The bleak assessment, delivered in private briefings this week to senior government and Central Bank of Myanmar (CBM) officials, stands in stark contrast to IMF findings released last October at the conclusion of the annual Article IV consultation process when Myanmar’s economic outlook was described as “favourable”.