Chinese top list of those who faced deportation due to visa rules violations

Among those who faced deportation due to violation of visa rules in Mandalay Region, Chinese citizens are the most numerous, according to Immigration Department officials in Mandalay Region. Action is being taken against those who fail to follow the country’s existing laws as well as culture- related rules and regulations, said U Win Myint, deputy […]

MCB hits upper limit on first day as YSX-listed firm

Trading on the Yangon Stock Exchange has tailed off in recent months, but Myanmar Citizens Bank’s (MCB) listing late last weekshowed there remains huge appetite for new sources of investment. Demand for shares in the lender – the first bank to list on the country’s new bourse – was around 10 times the volume offered. MCB […]

Thousands of car imports approved

A new government-led supervisory committee has released around 14,000 cars that had been held at Myanmar’s borders after an informal ban on vehicle imports was imposed last December. When the last vehicle import supervisory committee was disbanded at the end of last year, thousands of cars bound for Myanmar were held up, commerce minister U […]

Chinese firm to restart Myanmar’s only coal plant

China’s Wuxi Huagaung Electric Power Engineering is upgrading the entire Tigyit plant in southern Shan State near to the famous Inle Lake, which has been out of use for several years. Local authorities held a public meeting in a village near to the site on April 24 to explain the company’s environmental and social impact […]

Myanmar records trade deficit for four years in succession

A TRADE deficit has been reported in Myanmar for four years in succession as the value of exports fell more than the value of imports, according to an official from the Ministry of Commerce. The country remains locked into a trade deficit this fiscal year, said Director U Win Myint of the ministry. Myanmar has […]

Myanmar can potentially grow at 8%: WB

India may not be the only growth story in the midst of a global economic slowdown. According to the World Bank, Myanmar’s economy has the potential to grow rapidly, up to around 8 per cent per year in real terms over the next 5 years. With the right policy choices, a growing economy can provide […]

Low-cost apartments in Yangon’s Yuzana Housing to go on sale

  Apartments in a major low-cost housing development in Yangon’s Dagon Seikkan township will be sold to the public in the last week of March, with some units to be rented at subsidised prices, an official said yesterday. Yuzana Housing project is being developed by the Department of Urban and Housing Development (DUHD) near to […]

Rubber industry to be stamped with new law

A new law is being drafted to promote Myanmar’s rubber sector, as the commodity’s international value plummets and a number of plantations across the country are forced out of business. The law is being drawn up under Myanmar’s National Export Strategy, said U Khine Myint, secretary of the Myanmar Rubber Planting and Producing Association (MRPPA). […]

Shan State officials seek new route for China trade

Shan State officials say they are planning to conduct surveys for a new road that would divert traffic from one of Myanmar’s main trading routes and open up business with China. The Mandalay-Lashio-Muse Road, which passes through Shan State, is plagued by constant traffic jams and frequent accidents, said U Aung Kyaw Nyunt, minister for […]

Myanmar gold price soars in August

Domestic gold prices have risen by up to K50,000 over the past three weeks. Buyers clocked that the price of gold in Myanmar was lower than in the international market, due to currency volatility, and rushed to take advantage of the opportunity, said traders. The kyat has depreciated by 24 percent this year versus the […]