Parliament's newly formed Bill Committee plans to submit and discuss new rules for ministry tenders during the current session, in the hope of reforming an opaque and inconsistent system that has often allowed lucrative contracts to be awarded behind closed doors.
Former deputy minister of finance U Maung Maung Thein has resigned from his position as chair of the Securities and Exchange Commission of Myanmar and the Insurance Business Regulatory Board.
Sugar traders continue to benefit from Myanmar’s strategic location as an Asian crossroads, with surplus Indian production feeding demand in China, though currency volatility is starting to cause some headaches.
First Myanmar Investment (FMI) has increased its capital contribution to its subsidiary Yoma Bank by almost K9.6 billion, after accepting a loan facility from Bangkok Bank, said a company announcement yesterday.
A recent state bank decision to increase loans to rice farmers by 50 percent in the coming monsoon season has not been well-received, with some paddy farmers calling for the troubled development bank to be privatised.
The new chief minister for Yangon Region plans to reduce tolls at a major bridge linking the city’s largest industrial zones to its downtown area and ports, in a move that would make exports more competitive.