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Myanmar continues efforts to generate international demand for local gems

The Second Yangon International Gems and Jewelry Fair is set to take place in Yangon’s Lotte Hotel from January 9 to 13, according to the Gems and Jewellery Entrepreneurs Association The association is organising the event in the hopes of developing the gems and jewellery trade in the country, penetrating international markets, and developing cooperation […]

Log exports to be permitted to lure timber plantations

The Forest Department under the Ministry of Natural Resources and Environmental Conservation has been planning to permit the export of logs harvested from private timber plantations, U Tin Tun, director of the Forest Department, told The Myanmar Times. To protect the environment and prevent deforestation, Myanmar in April 2014 banned the export of whole logs […]

Myanma Timber Enterprise Tender. Auction Date 13,14 and 17 Dec 2018

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 (13-12-2018) (09:00)AM Ex-Site Hardwood Logs Only (14-12-2018) (09:00)AM Yangon & Ex-Site Teak/Hardwood (log and conversion) (17-12-2018) (12:00) noon Yangon Teak Log Only (b) […]

What to expect from Myanmar’s top five export sectors

Even though Myanmar managed to bring down its trade deficit by US$500 million to $1.3 billion during the period between April 1 and September 30 from the same period last year, the volatile exchange rate and rising oil prices may well continue to drive up import costs in the coming months. U Yan Naing Tun, […]

Myanma Timber Enterprise Tender. Auction Date 15,16 and 19 Nov 2018

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 (15-11-2018) (09:00)am, (16-11-2016) (09:00)am and (19-11-2016) (12:00)Noon   (b) COMMODITIES & VOLUME -Teak Logs About (2016) Tons -Teak Conversion  About (434) Tons -Pyinkado, […]

CMP garment export earnings hit over $2.2 bn in six months

Photo shows workers at a garment factory in Yangon. (Photo-Zeyar Nyein) Out of total export value in the six-month mini budget from April to September this year, earnings from export of CMP garments reached the largest amount with US$2.2 billion, exceeding over US$1 billion compared to the same period of last year, according to the […]

Myanmar to export gold to foreign markets

Myanmar will export gold to Shanghai, Dubai and Thailand, said Dr Ye Thu Aung, director of Myanmar Gold Development Public Co., Ltd at a ceremony to open One Stop Services Center (OSSC) at Myanmar Culture Valley in the People’s Squares in Yangon on September 24. The OSSC will provide one stop services for exports and […]

UMFCCI suggests four points for the country’s economy

Zaw Min Win, President of the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) submitted the four-point suggestion to Myanmar State Counsellor Aung San Suu Kyi. On August 27, Myanmar State Counsellor Aung San Suu Kyi held a talk with local entrepreneurs at Nay Pyi Taw. The four points are: export promotion, […]

Economic outlook negative: UMFCCI

Myanmar’ economy is in worse shape this year compared to 2017 and 2016, according to the Business Sentiment Survey for the second quarter of 2018 conducted by the Union of Myanmar Federation of Chambers of Commerce and Industry (UMFCCI) . The results of survey were released during 2nd B4B Insights Forum organised by UMFCCI on […]

Economist warns of adverse impacts on kyat depreciation

MYANMAR’S government has been urged to rein in the rise of the kyat and ease the impact of a decline in export competitiveness on the country’s manufacturing and agricultural sectors. The economy could be in deep trouble, if the exchange rate continues to appreciate against the US dollar, said U Myint, who served as the […]