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 […]

Military-Linked UMEHL Transitions Into Public Company

Yangon — The Union of Myanmar Economic Holdings Limited (UMEHL) announced on Thursday that, after being linked to the military for more than two decades, the conglomerate has transitioned into a public company. According to state-run media, shares for UMEHL, which was founded in 1990 with two shareholder groups, will be consolidated into one group. […]

Rice Federation Forecasts Exports to Resume as Scheduled in Mid-September

RANGOON — Recently halted after severe flooding that inundated swathes of the country, Burma will resume rice exports as scheduled from mid-September, the country’s rice federation said on Monday. Members of the Myanmar Rice Federation had agreed to a temporary pause on exports and to sell domestically at regular prices to buyers in urgent need […]

Myanmar traders suspend rice exports as floods hit

YANGON – Leading Myanmar rice exporters decided to temporarily suspend exports Monday in an effort to stop prices rising during heavy floods across the country, traders said. Traders decided at a meeting Monday to suspend exports until Sept 15, when rice is harvested at the end of the rainy season, said Soe Tun, vice chairman […]

Home Made Vehicle Ploy Comes to an End

The Road Transport Administration Department (RTAD) said that there has been no instruction regarding the fate of locally assembled vehicles, as it awaits a government decision to restart issuing import permits in exchange for locally-assembled cars. Vehicles older than 20 years can be exchanged for permission to import a new car under a car exchange […]

‘Car Import Policy Has Changed About 10 Times’

Import restrictions under the previous military government ensured car prices in Myanmar were among the highest in the world. Now, under the current quasi-civilian government which took power in 2011, restrictions have eased and car prices have fallen dramatically. Legislation has, however, often been less than clear, as car import policies have been frequently changed. […]

Investment in Rice Milling Key to Boosting Export, Report Says

YANGON — A new World Bank report said Myanmar can greatly increase its agricultural exports if it can improve the quality of rice through investments in rice mills, while it should also reduce transport costs and formulate policies to support rice export and agricultural production. Myanmar’s reformist government aims to improve agricultural productivity and rice […]

Growing pains hit Myanmar rice trade

The Myanmar Rice Federation (MRF) has stressed a need for tangible rice policies to keep abreast with industries in neighbouring countries. A longstanding ban on private rice exports was scrapped in 2010 under the former military junta, but the modernisation needs of Myanmar’s agricultural sector remain vast. The world’s largest rice exporter from 1961 to […]

Myanmar to export high-quality rice to Japan

YANGON—Myanmar will export 6,000 tonnes of high-quality rice to Japan for second time in May, according to the Myanmar Agribusiness Public Corporation (MAPCO). “We are now preparing to export 6,000 tons of rice that have already been tender awarded. Japan is going to buy native paddy strains and Myanmar is now test exporting high-quality rice […]

Private banks impose extra charge on international money transfers

YANGON—Several of Myanmar private banks are charging nearly Ks 15 (US$0.015) per US dollar on international money transfers in addition to the transfer service fee, raising concerns among the local business people. “I usually work with my export earnings deposited in United Amara Bank, Asia Green Development Bank and Kanbawza Bank, especially for importing cars,” […]