Rakhine State Plans to Export 10,000 Tons of Beans to India

Rakhine state plans to export 10,000 tons of Matpe beans to India in the cur­rent fiscal year, which be­gan in April. Official media reported that arrangements are underway to plant Matpe beans in the state during the coming rainy season and will export the sur­plus to the neighboring country, Rakhine State Minister of Planning, Revenue […]

Myanmar heads for liberalizing all types of insurance services

Myanmar finance authorities have submitted a proposal to the government on seeking permission to grant operation of all types of insurance services to the private sector. Running of all 40 types of insurance plus additional farmers insurance and overseas employment life insurance are expected to be granted by the government soon, said U Kyaw Win, […]

Myanma Timber Enterprise  Invitation for Open Tender. Closing date 24 Mar 2017

1. Myanma Timber Enterprise will sell Teak & Hardwood Round Logs and Sawn Timbers by Open Tenders in Us Dollars. Particulars of The Open Tender Sales are as Follows: (a) Date & Time – (24-3-2017) (12;00) Noon (28-3-2017) (13;00) After Noon (b) Commodities & Volume – Teak Logs about ( 654) Tons – Teak Conversion […]

Invitation For Open Tender for Copper Cathode. Closing date 7 April 2017.

Sale of (400 ±) Metric Tons of Cathode Copper in United States Dollar, Reserve Price : The price of Cathode Copper is not less than the Copper price of London Metal Exchange on one day ahead of tender opening date. Closing Date & Time : 7.4.2017 (16:30) Hours Tender documents are available From the Mineral […]

Myanma Timber Enterprise Export Marketing & Milling Department Invitation For Open Tender

Subscribe to our Tender Alert. We send out email alert on Tender and EOI as it happens. 1. Myanma Timber Enterprise Will Sell Teak & Hardwood Round Logs and Sawn Timbers by Open Tenders in Us Dollars. Particulars of the Open Tender Sales are as Follows: (a) Date & Time (24-2-2017) (12;00) Noon (27-2-2017) (13;00) […]

Real Estate Deemed Safe Haven as Kyat Tumbles

The free-fall of the local currency Kyat in recent months is having an impact on the real estate market as buyers keep putting their money into properties to hedge inflation, realtors say. Kyat has fallen drastically since September last year – when it was trading around K970 for a US dollar – and was hovering […]

Central Bank Bites Down on Dollar Use, But Does it Have Teeth

The Central Bank of Myanmar (CBM) has recently issued a notice that requires businesses and government agencies to use Kyat for payments inside Myanmar, even for foreign investors. This move is intended to raise the value of the Kyat by restricting foreign currency use for internal payments, according to a CBM official. The currency has […]

Dollar reaches Ks1,171

The dollar has now reached Ks1,171 on the unofficial markets, sources report. The rate of the dollar increased on June 2, leaping from Ks1,152 on June 3 to the current value. The Central Bank increased its reference rate to Ks1,105 from Ks1,097. It installed a limiter on May 27 that restricted exchanges to US$5,000 per […]

Dollar rise increases budget woes

Myanmar will have to sell treasury bonds again due to the consecutive budget deficits, according to the Ministry of Finance. The government is looking to take loans from home and abroad to solve the deficit. All the regional and state administrations face similar problems as the union government struggles to devolve investment. Maung Maung Win, […]

Kyat steadily declines against other currencies

Myanmar kyat’s weakening against major foreign currencies has accelerated during President Thein Sein’s time in office. The currency rate has slided to K 1,070 and K 1,075 per one US compared to K 824 per one US dollar at the end of 2011 and early 2012. In November in 2012, the exchange rate was K […]