Fish farms face reform

The techniques used by fish farms will be modified to make them more market competitive, said Dr Toe Nandar Tin, treasurer of the Myanmar Fishery Products Processor and Exporters Association. “We used to breed fish with long life spans. But now we consider farming those with shorter lives. Sea bass and tilapia have rising market […]

Myanmar unveils plans to overhaul court system

YANGON: Myanmar on Wednesday (Dec 17) announced plans to reform its judicial system, a move met with scepticism by lawyers and activists long used to red tape and poor access to justice during the junta era. Courts across the country are to be modernised and committed to “integrity”, independence and the rule of law, according […]

Myanmar Can Double Rice Exports Through Policy Reforms: WB

Myanmar has the potential to more than double its rice exports by implementing policy reforms, a new World Bank report said. In a bid to increase rice exports, Myanmar has to diversify and increase its rice production, open its rice milling sector to direct foreign investments and reduce export procedure costs, thereby alleviating rural poverty, […]

Myanmar brushes off limited US sanctions renewal

YANGON: Myanmar on Friday shrugged off US President Barack Obama’s decision to renew some sanctions against the country in order to spur continued reform, in a move that highlighted fears over continued rights abuses. Obama said sanctions restricting certain investments should be renewed because the former military-run nation still poses “an unusual and extraordinary threat […]

Foreign and domestic investors play by same rules: DICA

Burma’s Directorate of Investment and Company Administration (DICA) plans to reform the country’s current investment laws to conform to regional norms, according to DICA director Aung Naing Oo. In light of the passage of a new Foreign Investment Law in 2012, Burma now has two separate laws to govern foreign and domestic enterprises, which is […]

Industry Awaits Myanmar’s Offshore Exploration Block Awards

Industry players are watching with interest an impending tender award by Myanmar’s Ministry of Energy for 30 offshore oil and gas exploration blocks, which has attracted bidding by several major international oil companies (IOC) that were absent in previous tenders. The outcome of the tender will highlight the progress, or lack of one, as the […]

Bangladeshi expert granted permit to set up first commodity exchange in Myanmar

Myanmar government has invited a Bangladeshi expert to set up the first commodity exchange in Myanmar. According to a letter, the Directorate of Investment and Company Administration under the Ministry of National Planning and Economic Development of the Government of Myanmar has granted a permit to launch Myanmar International Commodity Exchange Limited, an initiative by […]

Shwe Mann declares presidential bid

Myanmar’s influential parliamentary speaker Shwe Mann has announced he will run for president in the fast reforming nation in 2015 polls, according to a report, joining opposition leader Aung San Suu Kyi as the only declared candidates so far. Former general Shwe Mann, a key architect of reforms since the end of the junta in […]

Japan ‘Making Up for Lost Time’ in Burma

Japan will lend Burma US$504 million and will cancel $1.74 billion of Burmese debt as part of a series of weekend deals that included a pledge to push development of a proposed port and commercial zone at Thilawa, a half-hour drive from downtown Rangoon, Burma’s commercial capital. Making the first visit by a Japanese prime […]