Tuesday, August 30, 2016
The Myanmar Times
The Myanmar Times

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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Economic policy due soon: ministry

The Ministry of Planning and Finance is putting the finishing touches to its economic policy, which will be published “soon”, permanent secretary U Tun Tun Naing told The Myanmar Times.

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Myanmar consumers slow to adopt debit cards

Accustomed to cash, Myanmar’s small group of debit-card users is growing only slowly, according to bank officials, who say that bank cards are becoming more popular, but are mostly used to withdraw cash once a month, on payday.

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Thai firm to invest in Mawlamyine power plant

Thai firm Siamgas and Petrochemicals Public Company is investing almost US$50 million in a gas-fired power plant in Mawlamyine township, it said yesterday in a filing to the Stock Exchange of Thailand.

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Do you use a bank card or prefer to hold cash?

Tin Yadanar Tun takes to the streets of Yangon to find out whether Myanmar’s famous cash-based economy is becoming a thing of the past.

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