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FDI in Thilawa SEZ project declines by $ 18.5 m

From April to August of the mini budget period, the foreign investments in Thilawa Special Economic Zone Project has dropped by US$ 18.5 million compared with the same period last year, according to a press conference by Myanmar Investment Commission on August 29. Than Aung Kyaw, Deputy Director of Directorate of Investment and Companies Administration […]

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 […]

Rubber export earnings decline

Rubber export earnings declined during two-and half-month mini budget period due to a drop in global rubber price, according to the Commerce Ministry. Myanmar exported more rubber than the previous year in two-and half-month fiscal year. Khin Maung Lwin, assistant permanent secretary of the Commerce Ministry said: “Last year, the country earned US$ 53.641 million […]

China suspends rice imports from Myanmar after bank freezes

] Chinese merchants have suspended its rice imports from China-Myanmar border after a freeze on bank accounts of merchants, said Than Oo, secretary of Bayintnaung Rice Brokerage Center. “Rice prices remain unchanged as China has suspended rice imports from Myanmar. Rice prices will go up when there are high demands from China. Rice trading is […]

Border trade increases by $196 million

Between 1 April and 25 May in this fiscal year, the value of border trade reached US$ 1.165 billion, recording an increase of $196 million compared to the same period in the last FY, state media reported quoting figures recently released by the Commerce Ministry. The total value of border trade, as of 25 May […]

Chinese investors eye garment sector

Chinese entrepreneurs have discussed with Yangon Region Investment Committee on the expansion of garment industry in industrial zones in Yangon, said Myo Khaing Oo, joint-secretary of Yangon Region Investment Committee. Aung Htoo, deputy minister for Commerce said: “Currently, Myanmar’s textile industry is rapidly growing. Imports of garment by the EU and Asian countries become high. […]

Myanmar seeks closer Thai business ties

THOUGH MYANMAR received only US$123 million (Bt3.84 billion) from Thai investments in the previous fiscal year ending on March 31, the nation’s investment body foresees a significant inflow of Thai businesses over the next few years. Aung Naing Oo, secretary of Myanmar Investment Commission and director-general at the Directorate of Investment and Company Administration, said […]

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 […]