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COVID-19 stalls Myanmar product-label law enforcement

Authorities are struggling to enforce the use of Myanmar language on the labels of all products on the local market due to the COVID-19 pandemic, a senior Consumer Affairs official said. U Zayar Swe, deputy director of the Consumer Affairs Department, said his agency has yet to conduct any inspections of manufactures for compliance with […]

Corn wholesale centres to be set up near Thai border

Corn traders will be collaborating to set up collection centres in Myawaddy, Kayin State, near the Thai border to facilitate exports of the crop, say industry officials. The collection centres, expected to be up and running within the next few months, are expected to help boost sales of corn to Thailand, said U Min Khine, […]

Kachin State Approves Chinese-Backed Business Park in Border Town

YANGON—The Kachin State parliament approved a proposal on Thursday to implement a Chinese-backed business park project in the border town of Kanpiketi, a part of Beijing’s grand infrastructure plans for its Belt and Road Initiative (BRI). Proposed in 2018, the Kanpiketi Business Park will cover nearly 70 acres in the border town in northern Kachin […]

Chinese, Norwegian investors to study projects in Chin

Chin State government officials say that they have expressions of interest from foreign investors to invest in power-generation projects in the state. This was revealed to The Myanmar Times by Chin State Minister of Development, Electricity and Industry U Soe Htet. The state is among the least developed in the country and is also the […]

More transparency needed for China deals, Myanmar officials say

With Chinese investments in Myanmar expected to rise, more should be done to ensure transparent and responsible business practices between Chinese companies and the Myanmar government, industry watchers said. Chinese investments historically dominated Myanmar’s foreign direct investment landscape. Some projects are government-to-government initiatives while others were won through tenders. Observers say Myanmar should diversify its […]

Myanmar MPs Vote to Regulate, Tax Chinese-Backed Banana Trade

NAYPYITAW – The Upper House of Myanmar’s Parliament on Monday approved a proposal to regulate China-backed banana plantations and levy a tax on the industry. Earlier this month, parliamentarian Dr. Khun Win Thaung of Kachin State submitted the proposal to the Upper House, saying tissue-culture banana plantations operated by Chinese companies are threatening the community’s […]

More has to be done to formalise business sector in Kachin: officials

There are only 19 large companies and just 1707 registered small and medium-sized businesses in Kachin State observing the stipulations of the Myanmar Investment Law 2016 , a government official said. Permanent Secretary of the Ministry of Investment and Foreign Economic Relations U Aung Naing Oo revealed this during Kachin Economic Forum held in Myitkyina, […]

Myanmar climbs six spots in world bank ease of doing business ranking

Myanmar moved up six places to 165th on the World Bank’s 2020 ease of doing business ranking in the bank’s latest report, which cites several reforms including creating an easier environment for starting a business and greater protections for minority investors. On Thursday, the World Bank’s latest report on ease of doing business ranked documented […]

Letter: Insurance shouldn’t be excluded from competition policy

MADAM – I am writing to raise two concerns in response to your September 27 article “State insurer to be exempted from competition watchdog”. The major concern lies with the prospect of the insurance sector being exempted from the Competition Law. In this regard, I agree with your unnamed source that “If the competition law […]

Singapore-listed Yoma in tie-up with Ayala unit for renewable energy projects in Myanmar

SINGAPORE – Myanmar-focused Yoma Strategic Holdings said on Monday it will form a strategic partnership with AC Energy, the energy platform of Philippine conglomerate Ayala Corporation. The two companies are looking to establish a 50:50 joint venture (JV) to scale up Yoma Micro Power (S) Pte Ltd (YMP) and to explore developing around 200 megawatts […]