1 mins read · Fri August 30, 2024
The Ministry of Electric Power issued an announcement of 30 August 2024 announcing that both domestic and non-domestic electricity tariffs are set to increase increase significantly from September 2024.
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1 mins read · Mon August 12, 2024
Myanmar’s minimum wage has been set at Kyats 4800 for an 8-hour working day or an hourly rate of Kyats 600 since 2018. While the minimum wage has not changed, the National Committee for Setting the Minimum Wages (the Committee) issued Notification No.2/2023, providing for an additional allowance of Kyats 1000 per day starting from […]
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3 mins read · Sat July 16, 2022
Up until now Myanmar regulators have allowed foreign involvement in banks, mobile money and microfinance. While the laws did not exclude foreign investment in other parts of the financial system, the CBM had not directly approved foreign ownership in other kinds of non-bank financial institutions (NBFIs).
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11 mins read · Sat July 16, 2022
Without warning on 3 April 2022 the Central Bank of Myanmar (CBM) issued notification 12/2022 and directive 4/2022 to impose foreign currency controls which will have a profound impact on businesses operating in Myanmar. This was followed up with directive 5/2022 and directive 6/2022 on 5 April 2022, and further announcements are expected as these […]
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2 mins read · Mon February 7, 2022
The list of goods which require a licence has recently been changed with an updated list of goods taking effect on 1 January 2022 and a further update to the list will come into effect from 1 March 2022.
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2 mins read · Thu July 1, 2021
Investments in Myanmar are regulated by the Myanmar Investment Law 40/2016 (MIL), which includes a number of tax and other investment incentives for both Myanmar and foreign investors. Key tax incentives include:
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2 mins read · Tue May 25, 2021
The Electric Power Generation Enterprise (EPGE) under the Ministry of Electricity and Energy published, on 24 May 2021, an invitation to bid to develop and operate solar power plants with a 20-year concession on a build-operate-own basis.
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