Myanmar car importers struggle to survive

MYANMAR car importers are fretting that auto sales will continue to drop until the end of 2017 if the government does not come up with a clear, comprehensive auto policy. Soe Tun, president of the Myanmar Automobile Manufacturers and Distributors Association and chief executive of Farmer Auto Showroom, said importers were waiting for the policy […]

Proposed Vehicle Import Limits Dropped After Industry Outcry

After fielding numerous complaints from industry stakeholders in recent weeks, the government has made a policy about-face, backing down on most of its plans to restrict Burma’s vehicle imports beginning this year. The Ministry of Commerce last month made a controversial announcement detailing plans to tighten controls on the imported automobiles market, stating on Dec. […]

Myanmar garments to get US boost

Aung Thein, vice president of the Myanmar Industries Association and managing director of Nibban Electronics, welcomed the move, saying it would boost exports to the US and strengthen local industries. Garment factories would reap the most from the decision, he said. “For the time being, some well-known brands like H&M have been making some of […]

Licences to be issued at SEZs

Licences to invest in Myanmar special economic zones will soon be issued at One-Stop Service Centres within the zones. According to the special economic zone by-law, this provision is being introduced for the convenience of investors. One-Stop Services Centres in SEZs will provide services such as company registration, visa application, labour registration and import and […]

Ministry of Commerce launches raids on illegal beer imports

Unease over the import of foreign alcohol and tobacco still hangs like a haze over the sin industry. In part because of the desire to protect local brands, the government is still reluctant to let in foreign beer or wine, sources confirm. Though the Ministry of Commerce said it would allow wine imports earlier this […]

Muse trade booms

Exports from April 2014 to March 31 this year through the Muse border exceeded US$3.6 billion, up more than US$1 billion from the previous year, according to Consumer Affairs Department under the Commerce Ministry. Last year’s exports were US$2.2 billion, mainly from agricultural produce. A total of 99 warehouses, 59 for exports and 40 for […]

Myanmar’s trade deficit jumps 88%

Myanmar’s trade deficit jumped 88% in the fiscal year that ended on March 31, driven by rapid economic expansion in the formerly military-ruled country, state media and a Commerce Ministry official said today. Myanmar’s economy was held back by mismanagement, corruption and the refusal of Western countries to trade and invest because of human rights […]

Myanmar launches export strategy to connect smaller firms to global economy

(Reuters) – Myanmar on Tuesday launched an export strategy aimed at strengthening smaller companies, which is a departure from 49 years of military rule when a few large firms dominated the economy, said the International Trade Centre (ITC). Myanmar’s economy was eviscerated by poor management and corruption under the former military government, and Western countries […]

MTC opened to woo foreign buyers

The Myanmar Trade Centre has been opened to boost the country’s exports and woo foreign buyers. The MTC, officially launched on Saturday, is located at Yangon office of the Commerce Ministry. MyintSwe, the PM of Yangon Region and other regional government officials, Win Myint, the union minister of commerce and other officials, Win Aung, the […]