Property developers come under pressure as dollar rises

Property contractors are under pressure from rising costs of building materials as a result of the higher dollar-to-kyat exchange rate. Building machinery and materials such as steel bars, which are imported from overseas, have become dearer to local developers and contractors on the back of the appreciating dollar, which yesterday hit a new high of […]

MFF official highlights govt cooperation for fishery development in China-Myanmar corridor

The government and private sector need to cooperate to enable Myanmar’s fishery sector to acceess opportunities in China-Myanmar economic corridor project, said Win Kyaing, general secretary of Myanmar Fisheries Federation (MFF). “In the fishery sector, it is no longer possible to extend catching fish naturally. But we can extend fish farming. We will try for […]

Fuel prices, protectionism hobble Myanmar airline industry

Myanmar’s once lucrative airline industry is struggling to stay afloat with many carriers already halving their fares to draw more passengers. A shortage of modern infrastructure and high import bill is driving up the price of jet fuel, making it exceedingly difficult for many local airlines to keep their fleets airborne. Already, the Department of […]

North Korean Restaurant in Yangon Ordered to Close its Doors

The government ordered a restaurant belonging to the North Korean Embassy in Yangon be shut down recently following a request from the US for Myanmar to respect a United Nations Security Council (UNSC) resolution on sanctions against North Korea. Aryani Manring, who is assistant public affairs spokesperson for the US Embassy, told The Irrawaddy that […]

Shan allows collection of entrance fees at Inle

The Shan State government has allowed local community organisations to collect entrance fees at Inle Lake so they can have funds to conduct conservation work on their own part of the lake. Speaking on Saturday, U Khin Maung Latt, general secretary of Save Inle Lake, said 16 civil society organisations and another six private associations […]

Workers ask government to monitor wage hike implementation

Following the decision by the National Committee for the Minimum Wage to increase the daily basic wage to K4800, a campaign has been organised to call for the government to strictly enforce its implementation. The Myanmar Labor Union for Industrial and Various Services led a campaign rally at the open park on Sunday, said U […]

Myanmar fishery traders call for negotiation over Saudi Arabia’s import suspension

YANGON, March 8 (Xinhua) — Myanmar’s Fishery Products Processors and Exporters Association has called for government-to-government negotiation over Saudi Arabia’s suspension of fishery imports from Myanmar which will start from April 1, the official Global New Light of Myanmar reported Thursday. Saudi Arabia’s imposition of ban on fishery imports from Myanmar along with Bangladesh and […]

Dept warns migrant workers about fraudulent job agencies

The Department of Labour Migration has warned workers seeking overseas job to be wary of fraudulent employment agencies that operate without licenses. In an announcement on Tuesday, the department, which is under the Ministry of Labour, Immigration and Population, urged workers to check with the authorities about the authenticity of such agencies. The warning comes […]

Rice bosses bemoan lack of investment

Myanmar’s agriculture sector faces development challenges and it received no significant inflows of foreign investment in the past five years, according to the Myanmar Rice Federation. The Directorate of Investments and Company Administration said agricultural foreign direct investment (FDI) was US$7.2 million during the 2015-16 fiscal year. The sector received US$138.8 million in 2010-11 and […]

Condo Law sent back to the drawing board

Weaknesses in the recently completed draft Condominium Law need to be addressed before it can be promulgated, according to officials from the Department of Human Settlement and Housing Department (DHSHD). Although it is targeted to become law this year, some in the industry have pointed to a number of problems with the current draft. Virtually […]