Construction materials trade opened to local-foreign joint ventures

The Ministry of Commerce has further relaxed trade restrictions on foreign companies, opening onshore trade in construction materials to local-foreign joint ventures, according to a July 7 announcement. International firms were barred until last year from Myanmar’s import-export industry, which was tightly controlled until 2011 by companies with ties to the former military regime. Last […]

FMI swaps share certificates for digital accounts

First Myanmar Investment (FMI), owned by businessperson Serge Pun, has asked its shareholders to open digital accounts, ahead of the company’s planned listing on the new Yangon Stock Exchange later this year, officials said. It is working with two securities companies on its initial public offering – KBZ Stirling Coleman Securities (KBZSC) and Myanmar Securities […]

Rice sector faces long struggle

Whatever steps the incoming government may be contemplating to spur investment, agricultural experts see little improvement in the short term for rice cultivation. Even long-term development will be a drawn-out struggle, said Myanmar Rice Federation general secretary U Ye Aung. In a recent interview with The Myanmar Times, U Ye Aung said barriers to raising […]

Govt rejects China’s request for timber-based industrial zone in Myanmar

The Myanmar government has rejected China’s requests to purchase timber in log form under a tender system and to build a timber-based industrial zone in Myanmar, said Khin Maung Yi, the permanent secretary of the Ministry of Environmental Conservation and Forestry. Rumours have circulated recently about Myanmar signing an MoU with China to facilitate the […]

In Muse, Promise and Perils of Development Redux

MUSE, Shan State — The Muse Central Economic Zone project, spearheaded by the Shan State government and a local private venture, is moving forward in an effort to boost commerce along the Chinese border, despite land grievances from some local residents. Located on the banks of Shweli River in Muse, a major trading hub on […]

Jade provides vital connection with Myanmar

Xue Hui has been involved in the jade trading business in Southwest China’s Yunnan province for 21 years. After quitting his job at a State-owned company in 1993 due to the low income it provided, he thought life would be better for the family trading in jade with Myanmar. Sharing a border of nearly 2,000 […]

Foreign Investors in Myanmar to be Allowed in Trading Activities

The Ministry of Commerce is planning to remove the ban preventing foreign investors from engaging in trading activities in Myanmar, a senior ministry official said. The plan, which is still in the pipeline, is expected to help the country increase its export volume, particularly in the agriculture sector, U Toe Aung Myint, director general of […]

Illegal car trading occurs along Myanmar border

Cars are being illegally imported to Myanmar through forty routes along Myanmar border, according to the Deputy Minister Dr. Pwint San of the Ministry of Commerce on July 23 at Naypyitaw. From 2011-2012 financial year to 2013 June in new Government administration, more than 2007 cars without license have been seized in three states, and […]