Myanmar rubber exports set to rise even as global prices take a beating

The price of rubber has fallen below its cost of production in major exporting countries. Yet, international demand for rubber produced in Myanmar has risen and insiders reckon things could remain upbeat for a while more. “Myanmar rubber production will certainly increase on the back of rising international consumption and demand,” U Myo Thant, vice-chair […]

LB Finance gets nod to operate microfinance business in Myanmar

L B Finance PLC’s overseas foray has borne fruit with the company successfully securing a licence to run a microfinance business in the southern central part of Myanmar, which is slowly opening up after decades of military rule. L B Finance, a non-bank lender with an asset base of Rs.109 billion, last week said it […]

Hantharwaddy airport priority for govt

THE planned Hantharwaddy International Airport is the only priority in the area of aviation under the National League for Democracy-led government, said U Win Khant, permanent secretary of Ministry of Transport and Communications. He made his comments in relation to the government’s Transport Master Plan during the sideline interview with The Myanmar Times at Myanmar […]

MIC Approves Foreign Forestry Joint Venture

The Myanmar In­vestment Commission (MIC) has green lit their second ever foreign investment in the forestry sector, according to a Directorate of Investment and Company Administration (DICA) on August 30. The Investment was awarded to Global Agriculture Joint Venture Co., Ltd, a joint venture between UK company Kruilight Co., Ltm. and the Department of Forestry. […]

Parliamentary Committee to Examine 24 State-Owned Factories

NAYPYITAW — The Lower House Investment and Industrial Development Committee will consider the termination or privatization of 24 loss-making state-owned factories—including the Myingyan Steel Factory which has received significant state investment. Committee member U Aung Kyaw Kyaw Oo said: “A total of 24 factories are making a loss, most were suspended when parliament discussed the […]

Pacific Hunt Energy Prepares Drilling Campaigns For Myanmar Blocks

Pacific Hunt Energy is planning a total of four exploration drilling campaigns for its Myanmar onshore blocks PSC C-1 and PSC H in the year 2018 and 2019. During the campaigns, explorations wells will be drilled with the intent to confirm the presence of hydrocarbon reservoirs. Two drilling campaigns are planned for block PSC C-1, […]

Global economic instability drives the rubber price to decline

Rubber prices in Myanmar have declined due to global economic instability, particularly in durable goods markets and petroleum which are closely linked to rubber said U Khaing Myint, the general secretary of Myanmar Rubber Planters and Producers Association. Since May, a tonne of Myanmar rubber sold for about US$1,400 whereas the rubber price hit US$1,800-2,000 […]

Ministry to Develop Specialized Textile and Garment Zone

​​ The union minister for industry has said that 127 acres of land in No.1 Garment Factory located in Shwe Taung, Bago Region, will be transformed into a Specialized Textile and Garment Zone (STGZ). Khin Maung Cho, said the ministry will invite potential local and foreign investors to develop the zone to manufacture high quality […]

Myanmar moves ahead on airport

YANGON, 30 December 2016: Myanmar’s vice president, U Henry Van Thio, has called for a show of transparency to ensure the Hanthawaddy International Airport project becomes a showcase for the country’s tourism development. Global New Light of Myanmar quoted the vice president saying the airport, once completed will become a major gateway for international airlines. […]

Govt Urges Officials to Find Ways to Reduce Impact of Regional Crop Prices on Farmers

Vice President U Henry Van Thio, who leads the Committee for Protection and Promotion of the Interests of Farmers, addressed the Coordination Meeting for Reduction of Impact of Regional Crops Prices yesterday. The vice president said paddy prices in major rice production regions in Myanmar such as Ayeyawaddy Region, Bago Region, Yangon Region, Sagaing Region […]