Posts in category: SERVICES

Deputy Prime Minister and Union Minister for Planning and Finance U Win Shein said during the MyRO website launching ceremony and rice storage facilities registration system briefing in Nay Pyi Taw that it would be easy and fast to do the same as the company registration system and that the ceremony is the first step to digitalize the rice sector, so they would like to make an all-out effort to improve the future processes to be carried out.
In MyRO, activities such as rice warehouse registration, exporter registration, and rice mill registration will be carried out in the form of a digital platform.
The Union minister said that the process of establishing a crop insurance system for farmers is being implemented and that the national government will create a good environment in terms of policy stability and favourable investment.
Then, Union Minister for Commerce U Tun Ohn said that his ministry is working to ensure that farmers get benefits, traders get appropriate benefits, and consumers are not burdened. With the approval of the State Administration Council, the implementation of the financial support system based on warehouse receipts was formed and the plan was drawn up to implement the financial support system based on warehouse receipts.
Starting as a pilot project, entrepreneurs who want to invest in the construction of warehouses must implement the new system successfully.
As a pilot project, plans are underway in the Union Territory of Nay Pyi Taw, Bago Region, Yangon Region and Ayeyawady Region. In MyRO, information, services and registration activities will be done in a short time with ease and simplicity for all in one placDeputy Prime Minister and Union Minister for Planning and Finance U Win Shein said during the MyRO website launching ceremony and rice storage facilities registration system briefing in Nay Pyi Taw that it would be easy and fast to do the same as the company registration system and that the ceremony is the first step to digitalize the rice sector, so they would like to make an all-out effort to improve the future processes to be carried out.
In MyRO, activities such as rice warehouse registration, exporter registration, and rice mill registration will be carried out in the form of a digital platform.
The Union minister said that the process of establishing a crop insurance system for farmers is being implemented and that the national government will create a good environment in terms of policy stability and favourable investment.
Then, Union Minister for Commerce U Tun Ohn said that his ministry is working to ensure that farmers get benefits, traders get appropriate benefits, and consumers are not burdened. With the approval of the State Administration Council, the implementation of the financial support system based on warehouse receipts was formed and the plan was drawn up to implement the financial support system based on warehouse receipts.
Starting as a pilot project, entrepreneurs who want to invest in the construction of warehouses must implement the new system successfully.
As a pilot project, plans are underway in the Union Territory of Nay Pyi Taw, Bago Region, Yangon Region and Ayeyawady Region. In MyRO, information, services and registration activities will be done in a short time with ease and simplicity for all in one place.

Source: The Global New Light of Myanmar

According to the EV taxi service companies, the Grab EV Taxi service has been operating at Yangon International Airport and Thabyaygon Market (Nay Pyi Taw) since 23 October.
Passengers who want to use the Grab EV Taxi service can book a ride through the Grab Taxi Service Counters at Yangon International Airport Terminal 1 and Terminal 3 during the test run.
The Grab EV Taxi service is not only safe to ride but also helps in reducing carbon emissions, according to Yangon International Airport’s statement that it meets the standards of Yangon International Airport’s commitment to reduce carbon emissions.
Currently, 10 EVs from Chindwin Shan Construction are operating as public taxis based at Yangon International Airport and 10 EVs imported from NPK Motors are operating as public taxis at Thabyaygon Market (Nay Pyi Taw). 

Source: The Global New Light of Myanmar

An E-commerce guide has been published for all businesses selling goods and services over the Internet, including online shops.

The Ministry of Commerce has issued an E-commerce guide for all businesses selling trade and services through the Internet, including online shops.
The guidelines state that all those who will be engaged in E-commerce business in Myanmar must register in the registration system managed by the Ministry of Commerce and must comply with the law specified by the relevant field.
In addition to this, E-commerce operators must disclose the methods and information to resolve any dispute regarding the address and phone number registered on the website or social network where they are selling goods.
Furthermore, sellers through the website must include a way to make a contract with the buyer and consumer, and sellers from social networks must also make a contract in some way.
Consumer protection has been included as a chapter in the guide, requiring sellers to clearly describe their goods and services.
Sellers are required to provide information on prices and taxes, as well as delivery and refunds, and if delivery takes more than 15 days beyond the agreed-upon date, the buyer may terminate the transaction and receive a full refund following the agreement.
It is forbidden to use the endorsement of people who are not actual users of the product. E-commerce operators must keep payment records for at least three years and provide them free of charge if requested by users. It is also instructed to provide such information if requested by the court or authorities.
There are 99 points in the guidelines for e-commerce businesses, which are rules to be followed based on disputes between buyers and sellers of goods and services.
These rules are issued for all methods of commerce, including payment systems for online businesses, advertising terms, copyright, fraudulent sales and fraudulent purchases, and consumer protection rules.
The E-commerce guidelines can be read on the official website of the Ministry of Commerce named www.commerce.gov.mm, as stated by the ministry. 

Source: The Global New Light of Myanmar

The Central Bank of Myanmar has reported that banks with authorized dealer licences (AD-licensed banks) have disbursed petty cash ranging from US$300 to US$500 to each of 2,956 individuals who are preparing to travel abroad. CB Bank, A Bank, and Tun Commercial Bank have communicated through their social media platforms that individuals planning to work, study, or undergo medical treatment abroad can now acquire petty cash in foreign currencies.

With the directive from CBM, the AD-licensed banks have been instructed to provide individuals with petty cash between US$300 and US$500 per person (or its equivalent in other foreign currencies), based on the submission of requisite documents following the specific purpose of their overseas travel.
This initiative was launched on 31 May, and as of 8 August, a total of US$789,806 has been distributed to 2,603 individuals. Furthermore, 2,454,550 Thai baht has been provided to 301 persons, 9,861 Singapore dollars to 27 individuals, 16,738 Malaysian ringgit to 20 individuals, and 1,450 euros to five individuals.
Transactions have been carried out at rates of K2,500 or K2,600 per USD, and K75 to K85 per Thai baht. These rates vary based on the daily average exchange rate prevalent in the market.

Participating in this effort are CB Bank PCL (CB), KBZ Bank, AYA Bank PCL (AYA), Ayeyawady Farmers Development Bank (A Bank), Myanma Apex Bank (MAB), Yoma Bank (YOMA), UAB Bank (UAB), Asia Green Development Bank (AGD), Myanmar Oriental Bank (MOB), Global Treasure Bank (GTB), Tun Commercial Bank (TCB), Shwe Bank, First Private Bank (FPB), Innwa Bank Limited (Innwa), and Myanmar Citizens Bank (MCB). These banks have publicly disclosed the available counters for purchasing foreign currency on their respective websites and Facebook pages. 

Source: The Global New Light of Myanmar

The Myanmar Embassy to Thailand has announced that Dee Money mobile application has been
jointly established by two Myanmar-Thai non-bank financial service companies as an official money transfer service so that Myanmar nationals in Thailand will not be deceived when transferring money to their motherland. The embassy stated that Myanmar nationals in Thailand are being exploited while sending money back to Myanmar due to various reasons, as well as facing high transfer fees and a lack of guarantees daily.

If people transfer the baht currency equivalent to K10 million through the Dee Money mobile application, they will only be charged 49 baht per service fee. According to the embassy statement, Dee Money App is a safe and secure money transfer service for all Myanmar citizens in Thailand. Currently, Thai-Myanmar exchange rates are not stable and the value of the kyat is falling, reaching over K100 per Thai baht, as per the prevailing conditions in the forex market.

Source: The Global New Light of Myanmar

The Myanmar Embassy to Thailand announced on 20 July that PJ passports in Thailand which will expire on 31 March 2024, must be renewed from 2 August. The appointment tokens for the newly issued PJ passports will be given at the old office gate (the former location) from 8 am to 12 pm every Saturday starting from 29 July. Those who come to pick up the appointment token must bring their passport books, and the token will be issued only after the face match is verified. Therefore, it has been notified that withdrawals by agents will not be granted at all. All visitors are requested to come only in the morning because there are only a small number of PJ passport holders expiring on 31 March 2024, and line up in an orderly manner to obtain tokens.

Source: The Global New Light of Myanmar

THE Central Bank of Myanmar (CBM) notified that the exchange rate transacted on the online trading
platform is the actual currency value and the US dollar was exchanged at over K2,900 on 22 June when the online trading platform started. In 2013, the CBM implemented a forex market for interbank transactions among authorized dealers and bank-customer transactions for foreign exchange market development. International forex trading platform (Refinitiv) helped the authorized dealers deliver a complete function for inter-bank transactions. The CBM has been managing online trading for bank-customer transactions. Starting on 22 June, the CBM led the online trading platform for bank-customer transactions and transactions between clients.

The total turnover for the trading of the six authorized banks was US$6.89 million with an exchange rate of K2,920. Furthermore, the CBM also provided USD SWAP Financing and sold 1.2 million dollars. The exchange rate transacted on online trading platforms determines the actual value and the rate in shady dealings and posted on social media platforms are just grey market rates, the CBM warned. The CBM will provide SWAP Financing for the essential goods in need and intervene in the forex market, according to the notification issued on 21 June 2023.

Source: The Global New Light of Myanmar

The Myanma Agriculture Development Bank (MADB) made an announcement on 14 June stating that it will offer loans of up to K70 million to individual farmers who require financial support for agricultural and rural development purposes.
The loan amount has been capped at a maximum of K70 million per farmer, with an additional provision that each group of farmers can receive a maximum loan of K500 million. These two-step loans, issued by MADB, come with an annual interest rate of five per cent and are intended to facilitate plantation activities and rural development.
The loans will be disbursed to farmers for the purchase of various types of farming machinery and agricultural equipment, as well as for the construction and maintenance of factories and warehouses.
Repayment terms require farmers to pay back the loan three times over a span of three years for tractors and hand tractors, while for other equipment, repayment is set at five times over a period of five years.
Interested farmers can obtain detailed information regarding the loan terms, conditions, and the necessary guarantee requirements by contacting the nearest Myanma Agriculture Development Banks or regional banks. 

Source: The Global New Light of Myanmar