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FDI has risen under the NLD: U Set Aung

Foreign direct investments (FDI) have increased under the NLD government, said U Set Aung, deputy minister for planning and finance. “The total approved FDI during the two years from April 2016 to the end of March 2018 under the current government is 16 percent of the total FDI approved during the entire period from 1988 […]

Rampant timber smuggling in Myanmar as forest service restructures

As Myanmar works to restructure to private sector management of the country’s forestry and timber resources, reports of illegal logging are surging. Until now, a government entity called the Myanma Timber Enterprise (MTE) has been managing forestry resources and overseeing the export of timber products. Myanmar instituted a domestic logging ban from 2016-2017 that forbade […]

Myanmar businesses join hands for FDI

THE MYANMAR Investors Development Association (MIDA), an alliance of large-scale local enterprises, will help the government achieve its economic goals by actively engaging with local and foreign investors, according to its chairman Khin Maung Aye. ”For our country to grow further, we need to create thousands of jobs for our citizens. Job creation entirely depends […]

Price, quality of domestic petrol and diesel under scrutiny in Yangon

Private petrol stations in Yangon are selling around 270,000 gallons of petrol and 150,000 gallons of diesel at spot prices on a daily basis, U Han Htoon, Minister of Agriculture, Livestock, Forestry and Energy said in the Yangon Parliament this week. Concerns over higher petrol and diesel prices are rising as global oil prices have […]

Change in fiscal year insufficient to address shortfalls in budget process

While seen as positive, Nay Pyi Taw’s proposed change of fiscal year alone cannot address the lack of flexibility in the annual budgeting process, according to businesses. The adoption of multi-year budgeting should be implemented instead. Lawyers, investors and financiers told The Myanmar Times that while changing the fiscal year could bring some advantage to […]

Titan Petrochemicals getting into Myanmar

The group said in a press release that its Surplus Full unit would be forming a 49-51 joint venture with a paid up capital of RMB10m ($1.5m) with Yunnan Investment Group to promote a 5m tonne oil refinery project in Myanmar as well as develop other business in the energy, tourism, railway and finance industries. […]

Japanese Firms Pledge to Clean up Rivers Polluted by Dye in Textile Making Hub

​​ Two Japanese industrial companies have made a joint proposal to build and operate a water treatment facility in the central Myanmar town of Wundwin, which suffers from polluted waterways caused by its textile dyeing industry. Horiba, a company that makes instruments used for measuring water quality, and Hitachi Zosen, which manufactures industrial treatment plants, […]

Can Myanmar’s Hydropower Study Truly be For The People?

In recent weeks, violent clashes in Kayin State have further disrupted Myanmar’s fragile peace process. Fighting between the Democratic Karen Buddhist Army (DKBA) and the government-sponsored Border Guard Force (BGF) in Mae Tha Waw areas of Hlaingbwe township, and more recently near Kawkareik township, has displaced over a thousand people. Entire families have fled their homes and are […]

Myanmar’s Logging Ban Feeds shadow Economy of Illegal Trade

For the duration of the ban, which runs into April 2017, any demand for wood is expected to be met through stockpiled wood controlled by the government’s logging entity Myanmar Timber Enterprise (MTE). The ban is seen as a way to not only protect Myanmar’s forests but to save lives. In 2012 the UN ranked […]

Myanmar’s forests face myriad problems as logging ban continues

YANGON – Myanmar’s forests are rich. They are rich in variety, in natural resources, and in wildlife. But they are also rich in danger. “Myanmar’s forests are more in crisis than ever before,” said Faith Doherty, lead forest campaigner at the UK-based Environmental Investigation Agency. “If you just look at what’s happened in the last […]