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Mandalay to build textile industry park

A textile industry park will be established in Mandalay city, U Zaw Myint Maung, chief minister of Mandalay Region, said on Tuesday. He said the government will work with the Japan International Cooperation Agency (JICA) to set up the industrial hub. “Some businesspeople have proposed to establish a textile industry park that can employ about […]

Bonded warehouse programme set to provide boost to Myanmar industries

The Customs Department, Ministry of Planning and Finance, and the DaNa Facility, a UK aid funded programme, yesterday launched the Developing Custom Bonded Warehouse programme to introduce customs officers and relevant stakeholders to the potential of a bonded warehouse system in supporting the local industry. Bonded warehouses are specifically designed to support industry, particularly those […]

Associations in Myanmar

I was recently in a mission in the Myanmar capital city of Yangon for my organization, the Association of Development Financing Institutions in Asia and the Pacific, to conduct briefings on the green lending policy framework that ADFIAP has developed for the Myanmar Bankers Association (MBA). This is part of the European Union (EU) grant […]

Trade deficit continues to narrow as exports accelerate

The trade deficit for the first four months of the 2018-19 fiscal year, which starts in October and ends in September, has declined with imports increasing at a slower pace compared to the same period of last fiscal year. According to data provided by the Ministry of Commerce, trade volume for the period up to […]

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. […]