Myanmar opens up for foreign retailers and wholesalers

Foreign businesses and joint ventures are now allowed to carry out businesses in the retail and wholesale sector, according to the latest directive from the commerce ministry. Leading business groups hailed the move as a right step towards attracting inwards investments for Myanmar. The ministry issued the Directive 25/2018 on May 9, authorising 100 percent […]

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 […]

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 […]