News

Regions can approve up to US$5m investments

The maximum amount of investments which can be approved by regional and state governments has been set to US$5 million. Region and state investment commissions will now be able to approve proposals without having to seek permission from Myanmar Investment Commission, according to an announcement ...

Defence expenditure ranks third in 2017-18 Union budget proposal

The National League for Democracy-led government’s first crack at formulating an annual Union budget has proposed only a modest increase in defence spending, with the lion’s share earmarked for the Ministry of Planning and Finance. Submitted to parliament yesterday, the K20.896 trillion budget for the ...

Tax cut planned for low-cost housing purchases

The government is planning to drastically reduce the taxes it levies when people purchase state-commissioned low-cost housing, which developers say puts many units out of reach for ordinary buyers. Union Planning and Finance Minister U Kyaw Win, in a speech to developers and business leaders ...

Trade groups raise traffic concerns as Yebu gate reopens

The Yebu border trade inspection gate on the Lashio-Muse road has reopened for the first time in over five years as the government tries to honour a commitment to ending illegal trade. But inspecting hundreds of vehicles at a single small gate has resulted in ...

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