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.
This week, a survey found 36 percent of export companies have no new orders, MIC said 10 more firms will close and trade data showed a US$200 million drop in exports to China.
This week, garment factories say they have almost no orders from the EU, the government says GDP will grow by 6 percent next year and China okays official rice imports Myanmar.
A woman from Rathedaung filed a complaint with police saying she was raped by three Myanmar military soldiers who also attempted to rape her 19-year-old daughter.
This week, six EU states suspended debt payments from Myanmar while the country resumed rice exports, approved new investments and allocated US$10.6 million in loans.
Six European Union countries agreed to a one-year deferral for debt payments from Myanmar worth almost US$100 million, in a bid to help the country deal with COVID-19.
This week, many regions in Myanmar approved new investments, the World Bank released a new GDP projection and local firm Yoma moved to back mobile money company Wave Money.
The Ministry of Commerce says construction will start soon on the Kyaukphyu deep-
sea port, a key piece of China’s Belt and Road Initiative with access to the Indian Ocean.
Small and medium-sized enterprises (SMEs) in Myanmar say they aren’t able to access government and foreign-backed loans due to strict repayment and application requirements.
This week, Myanmar officials said foreign investment for 2019-20 is on track and a Korean industrial complex will go ahead as they lifted limits on foreign ownership of banks.