Individuals can take out 500,000 kyats daily on ATMs, and withdraw 2 million kyats a week; companies face a weekly 20-million kyat withdrawal limit.
This week, Myanmar saw plans for a new trade terminal in Ayeyarwady, a move to explore new fruit export markets and positive reports on foreign as well as domestic investment.
The Union Election Commission will soon announce which of the 7,000 potential candidates are qualified to run in the November election.
This week, Myanmar moved to join an Indo-Pacific economic pact and approved over US$500 million in investments, including $180 million for what will be Myanmar’s largest mall.
This week, Myanmar announced new industrial and economic zones and approved US$1 billion in loans, including $250 million for COVID-19 relief and $747 million for a highway.
Myanmar’s Parliament gave the green light to borrow US$250 million from the ADB to help fund the government’s COVID-19 Economic Relief Plan which it began rolling out in April.