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Govt coffers held back by SOEs: EITI

A representative of the Extractive Industries Transparency Initiative (EITI) said Myanmar’s government fails to understand the severity of how the so-called Other Accounts of state enterprises are holding back the country’s development. EITI will be organising a workshop on reforming state-owned enterprises (SOEs) engaging in this sector will be held mid-February, according to EITI trilateral […]

Myanmar RMG units exporting to EU rose by 180 in 5 yrs22

The number of readymade garment (RMG) factories in Myanmar that export products to the European Union (EU) has increased by 180 within five years from 22 in 2013 to 202 now, primarily due to benefits offered by the EU’s generalized system of preferences (GSP), according to Aung Naing Oo, director general of department of investment […]

Taiwan to help Myanmar build vertical industry in Textile and Garment production

Support from Taiwan, and mainland China, is badly needed in Myanmar especially in building backward linkages Myanmar is counting on investors from Taiwan to support the country with capacity building and technical assistance – including in textile and garment production – even as its beneficial trade access to the European Union (EU) is under review. […]

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 hold investment fairs to spur development

Myanmar is making preparations to hold a business forum in Mandalay, the country’s second largest city in the north, on Nov. 9, aiming to promote trade and investment for the development of Mandalay region, according to the Directorate of Investment and Company Administration (DICA) Monday. Such a forum is partly aimed at driving development more […]

Draft Companies Law designed to remove obstacles for foreign investment

A new Myanmar Companies Law currently being drafted by legislators will remove cumbersome restrictions and make foreign investment easier, said Dr Myat Nyana Soe, the secretary of Amyotha Hluttaw Bill Committee. “The draft law was approved by Amyotha Hluttaw and the amendments made by Aymotha Hluttaw and Bill Committee are already submitted to Pyithu Hluttaw. […]

Effort to get tax exemption to export garment

Local garment factories are attempting to export their own branded garments, according to the Myanmar Garment Entrepreneurs Association. Currently, local garment factories export their products with the Cut-Make-Pack (CMP) system. “We are unable to export our products with the Free-On-Board (FOB) system. Currently, we are trying to get tax exemption for the FOB system. “We […]

Emirates set to launch flights to Phnom Penh

Emirates Airlines will expand its presence in Cambodia by launching a daily passenger flight between Dubai and Phnom Penh, with a stopover in Yangon, as part of the Dubai-based carrier’s push into the region. Launching on July 1, the daily flight will connect Dubai to Phnom Penh via a 90-minute stopover in Yangon, using a […]

Natural gas core of export activity,followed by garment sector

Natural gas comprises 45 per cent of the export sector, by far the biggest chunk of the market, it is learnt from an announcement released by the Customs Department.The second most exported category is the garment sector, at 17 per cent. The export of natural gas in the 2015-2016 fiscal year fetched over US$4.3billion, whereas […]

Myanmar women garment workers on study trip to B’desh

As part of its initiative to upscale the outreach of its social progamme for women workers in Myanmar’s garment industry, a European Union funded project called Smart Myanmar organized a study mission to women’s centres in Bangladesh to exchange ideas and share experiences which could be replicated in their own society. The mission, comprising seven […]