Myanmar to adopt crop insurance based on weather

Myanmar and Sompo Japan Insurance are planning to adopt a crop insurance system based on climatic conditions, Deputy Minister for Agriculture, Livestock and Irrigation Hla Kyaw told a parliamentary session of the Upper House. The plan was revealed during the parliamentary session held in Nay Pyi Taw on October 17 after MP Kyaw Myint Oo […]

Central Bank of Myanmar approves loans without collateral

Local banks are now permitted to extend loans without the need for collaterals, U Set Aung, Deputy Minister at the Ministry of Planning and Finance, told The Myanmar Times at the 5th Asia SME Conference in Naypyitaw on October 14. “The Central Bank of Myanmar (CBM) has allowed local banks to provide loans without movable […]

Myanmar expects 6 bln USD foreign direct investment yearly

NAY PYI TAW, Sept. 12 (Xinhua) — Myanmar is expecting to attract about 6 billion U.S. dollars of annual foreign direct investment starting from 2018, U Maung Maung Win, deputy minister of the Ministry of Planning and Finance said Tuesday. In accordance with the Foreign Direct Investment Promotion Plan (FDIPP), the country is expecting about […]

Car import permits down 60pc in 2017-18

Applications for the import of passenger vehicle is down by more than 5,000 so far this fiscal year compared to the same period in the previous fiscal year, said U Aung Htoo, deputy minister for Ministry of Commerce. The government has been trying to limit the import of cars to control traffic congestion in the […]

Myanmar execs seek help in fostering human resources

TOKYO — Even as more Japanese companies are eyeing the growing business opportunities in Myanmar, the young country and its more than 50 million people are in need of help in developing human resources in addition to infrastructure, a fact emphasized by several prominent businessmen from the country, speaking at a seminar on Monday in […]

Ministry, NGOs cooperating on education reform

At yesterday’s meeting of the Amyotha Hluttaw in Nay Pyi Taw, Deputy Minister for Education U Win Maw Tun said the ministry is conducting educational reform by cooperating with Non-Government Organisations (NGOs) in sectors and sub-sectors. The Deputy Minister was responding to a question by U Mahn Law Moung of Constituency 8 in Chin State […]

North Petro Chem Corporation Ltd of China exploring gas field in Ngahlaingtwin area

Deputy Minister for Electricity and Energy Dr. Tun Naing described joint oil and gas exploration and production projects between Myanma Oil & Gas Enterprise (MOGE) and North Petro Chem Corporation Ltd of China to yesterday’s meeting of the Amyotha Hluttaw. The deputy minister said North Petro Chem Corporation Ltd signed a PSC with MOGE for […]

Parliament approves large loan for Dala-Yangon bridge build

The Pyidaugnsu Hluttaw has given the go-ahead to a US$138 million loan from South Korea to build a bridge between Yangon and Dala – a project that will cost nearly $170 million. The $137.8 million loan from South Korea’s Economic Development Cooperation Fund, which will go to Myanmar’s Ministry of Construction, gained approval on May […]

Seven firms face fines if ‘Death Highway’ is not repaired on schedule

The seven companies hired to upgrade Myanmar’s notorious “death highway” will be fined if they do not complete their work on schedule, Soe Tint, deputy minister of construction told Parliament yesterday. The deputy minister also admitted he had seen no evidence that any of the companies, which include some of Myanmar’s largest conglomerates, had started […]

Japan to Help Upgrade Inland Water Transport System in Myanmar

Japan will help upgrade inland water transport system in Myanmar for national transport sector development. Japan is expected to provide technology and assistance for the implementation of the master plan which has been drafting, said Myanmar deputy Minister for Transport U Han Sein at the coordination meeting of transport deputy ministers from both sides held […]