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 […]

Foreign Investment in Agriculture Rests on Policy Support, Innovation, Says Dentons

Myanmar’s agri­cultural sector is ‘very close’ to seeing an uptick in for­eign investment but only if the government contin­ues providing policy sup­port and if investors are willing to ‘innovate’, ac­cording to the Myanmar resident partner of the world’s largest law firm. After decades of neglect, Myanmar’s largest indus­try lags well behind that of regional neighbours […]

Export earnings of jade more than triple

Export earnings for jade during the nine-month financial period from April to December of 2013 reached US$ 920 million (Ks 887.79 billion), according to the Ministry of National Planning and Economic Development. This amount is more than a third larger than last year’s overall earnings (more than US$ 600 million). Export earnings for the 2012-2013 […]

Private banks impose extra charge on international money transfers

YANGON—Several of Myanmar private banks are charging nearly Ks 15 (US$0.015) per US dollar on international money transfers in addition to the transfer service fee, raising concerns among the local business people. “I usually work with my export earnings deposited in United Amara Bank, Asia Green Development Bank and Kanbawza Bank, especially for importing cars,” […]