MIC Invites Import-Substitution Investment Proposals

The Myanmar Investment Commission has invited companies to submit proposals for investments in import substitution industries, it said in a December 22 statement. The Commission identified the industries in which it is most interested in encouraging import substitution. They are: auto and auto parts, tractors and trailers, telephone and telecom equipment, machines and machine parts, […]

Myanmar to Get Better Profit-Sharing Deal in Rakhine Port Project

Myanmar is set to receive a greater amount of the profit-sharing in a $7.2 billion deep-sea port development project in the town of Kyaukphyu in western Rakhine state, though negotiations with the main Chinese investor are ongoing, a commerce ministry official said Monday. A consortium led by CITIC Group Corporation Ltd., China’s state-owned investment company, […]

Jade exports earnings plummet since last year

In the first four months of this fiscal year, jade export earnings reached US$24.8 million, down $85 million since the same period last year, according to an official from the commerce ministry. “In the same period last year, export earnings from jade amounted to $109.8 million,” the official said. “Revenues generated at the emporium held […]

Myanmar seeks to make world-class dairy products

The Myanmar Dairy Products Manufacturers’ Association and the Myanmar government are attempting to establish standards for milk products in order to promote its domestic dairy industry, according to a City News report, yesterday. Currently, Myanmar imports milk products from Malaysia, Singapore, United Kingdom, New Zealand, the Philippines, the Netherlands, Australia, Ireland, Poland, Indonesia, Germany and […]

Sri Lanka Signs Rice Deal with Myanmar

Myanmar plans to export 0.2 million tonnes of parboiled rice and 0.3 million tonnes of white rice to Sri Lanka under a memorandum of understanding this year, according to Myanmar Rice Federation (MRF). The National Food Authority of the Philippines has invited a bid for the contract to buy about 50,000 tonnes of rice, according […]

MOC unveils new agricultural export reform plan

The Myanmar government outlined an agricultural trade plan to improve the nation’s struggling export trade sector, according to an article in yesterday’s edition of Myanma Alin Daily newspaper. The plan will address challenges including municipal container truck bans, paperwork hurdles and administrative obstacles that complicate export logistics and result in higher and less competitive prices […]

Garment sector earned nearly US$400 million

Myanmar earned nearly US$400 million from garment sector exports in the past three months, according to the official figures of the Commerce Ministry. This represents a $100 million increase over the same period last year. Following the lifting of European and American economic sanctions, Myanmar’s garment industry is growing. Currently, Japan and European countries are […]

Myanmar Aims to Boost Gold and Jewellery Exports

MYANMAR plans to step up the promotion of jewellery and product in a bid to boost exports, Planning and Finance Kyaw Win said. The Gold Traders’ Association says traders in the gold market need to rely on mutual trust as the market is not supported by a proper banking and insurance system, resulting in unstable […]

Domestic Cement Production Reduces Imports This FY

New foreign competitors in the domestic cement industry have reduced demand this fiscal year for more expensive cement imports into Myanmar, according to a report on Wednesday in Myawady Daily newspaper. Import volume of cement in the past two months declined 60 per cent compared to the same period last year, said U Khin Maung […]

Natural gas export earnings decrease by over US$35million

Natural gas export earnings as of the end of May this FY hit over US$230million, a decrease of over US$35 million from the same point last year, according to the Commerce Ministry. Natural gas exports accounted for 45 per cent of the country’s total export earnings, followed by the garment sector with 17 per cent. […]