Foreign investment into lagging agriculture and fisheries sectors urgently needed: exporters

The next government should urgently seek investment in the country’s lagging and underfunded agricultural and fisheries sector, to help halt and reverse the decline in exports, traders said. Of the US$38.18 billion received in foreign investment over the past five years, a bare $208 million has been ploughed into agriculture, according to the Directorate of […]

Companies begin to feel the heat as import costs climb

Myanmar’s plummeting currency has prompted a vicious circle of rising prices in the import-dependent economy, in which even export-driven companies face rising costs, say businesspeople. New laws and regulations are urgently needed to control the kyat, they said, which has fallen by more than 25 percent to the US dollar this year to K1300 yesterday, […]

MRF to Control Rice Prices

The Myanmar Rice Federation (MRF) will work towards controlling the price of rice at open wholesale rice centres in Yangon and other regions, according to U Aung Than Oo, chairman of the MRF. “The federation will monitor who increases the wholesale price of rice. If they find price gouging by rice distribution centres, we will […]

Apex to lend against farm permits

Myanmar Apex Bank will begin allowing farmers to access bank loans by using their work permit certificates as collateral, according to bank chair U Chit Khine. The Form-7 certificates were created with the 2012 Farm Land Law, functioning as a farmland work permit certificate for people with the right to farm a particular plot of […]