Govt allows exports of raw timber produced in private plantations

Raw timber produced from private forest plantations can now be exported, U Zaw Min, deputy director general of the Department of Forestry, said last week. The development comes after the Ministry of Resource and Environmental Conservation in April 2014 suspended the export of raw timber produced from natural forests. There are a total 1.4 million […]

Fuel oil imports up during mini-budget period

During two-and a-half-month mini-budget period, Myanmar imported 803,941 tonnes of fuel oil, up nearly 90,000 tonnes worth US$ 255.780 million compared with the same period last year, said Khin Maung Lwin, assistant permanent secretary of the Commerce Ministry. Until June 15, this year, Myanmar’s fuel oil imports amounted US$ 885.310 million. Last year, Myanmar imported […]

Myanmar negotiating with Chinese consortium on deep-sea port project in western state

YANGON, (Xinhua) — Myanmar is negotiating with a Chinese consortium to carry out a strategic deep-sea port in Kyaukphyu, western Rakhine state, as part of the planned special economic zone (SEZ) in the region, according to a report of the official Global New Light of Myanmar Sunday. The negotiation between Myanmar’s Commerce Ministry and the […]

Myanmar’s Waiting for the Western Investment That Never Came

Among business leaders in Myanmar, would-be investment from the U.S. and Europe is known by the wry acronym NATO. “No Action, Talk Only,” Sean Turnell, special economic consultant to Myanmar’s leader Aung San Suu Kyi, said in an interview, underscoring the country’s history of missed opportunities and unfulfilled potential. As Southeast Asia’s fastest-growing economy began […]

53 companies express interest in building Yangon’s ring road

A total of 53 local and international companies/ consortiums are interested in the 47.5-kilometre elevated ring road in Yangon, the Ministry of Construction announced on July 4. On May 18 last year, the Ministry of Construction (MOC) invited local and foreign investors to submit Expressions of Interest (EOI) for the construction of an elevated four-lane […]

Govt to issue new licenses for commercial vehicles

The government will install a new vehicle licensing system under which a new domestic operator license will be issued to firms or individuals who own and operate vehicles for commercial purposes. The new system, which will take effect in January 2019, differs from the current practice of issuing a license per vehicle, said U Soe […]

Yamato launches cross-border trucking, relocation services

Japan’s largest package delivery company has set up a US$500,000 joint venture in Myanmar to specialise in Thai-Myanmar cross-border trade and small-cargo delivery for households and businesses. Yamato Group through its Singapore-based subsidiary formed a joint venture (JV) with Myanmar firm Aye International Group Co (AIG) last December. Total capital for Yamato Global Logistics Myanmar […]

New bus stops to give Yangon much needed facelift

FMIDecaux has commenced construction of a slew of new bus stops in Yangon, U Maung Aung, secretary of the Yangon Region Transport Authority (YRTA) said this week. The first of these bus stops, located near Myanmar Plaza, is already complete and open to the public. FMIDecaux, which is cooperating with the Yangon City Development Committee […]

Myanmar throws weight behind Hong Kong as BRI “superconnector”

Myanmar recognises Hong Kong’s “distinctive role” as the Belt and Road Initiative’s “super connector”, a cabinet minister said last week during an official visit to the city, while businesses urged Nay Pyi Taw to take a more proactive approach in the scheme. Newly appointed chair of the Myanmar Investment Commission (MIC) U Thaung Tun, who […]

Chinese investors mull expansion plans in Myanmar

Chinese investors have been showing keener interest to do business with Myanmar. At the China (Dezhou) Myanmar Economic Trade and Investment Cooperation Seminar on Monday, during which Chinese firms sought business partners in Myanmar for the purposes of trade and investment, Li Lian Jun, chairman of China Chamber of International Commerce (CCOIC), said firms are […]