Clothing industry looks for favoured status

The Myanmar Garment Entrepreneurs Association says it is working for MFN (most-favoured nation) status so that the CMP (cutting, making and packaging) clothing industry can receive tax reliefs. Myint Soe, chair of the association, said: “I have submitted a plan to ensure the country gets MFN status when CMP products are exported to the US. […]

Myanmar’s beach destinations to watch

Myanmar’s four key beach destinations – Ngapali, Kawthaung, Ngwe Saung and Chaungtha – are emerging as up-and-coming tropical getaway spots in Asia, each with its own distinct characteristics. According to C9 Hotelworks’ new Ngapali Beach Tourism Market Review, the impact of more airlift to Ngapali’s main gateway of Thandwe last year pushed growth up 28 […]

What’s Behind Myanmar Military Chief’s Europe Voyage?

Starting from April 22, Myanmar’s military chief Min Aung Hlaing embarked on a goodwill visit to the Federal Republic of Germany with a stopover in Austria. His trip, made at the invitation of his German counterpart, signals the continuing importance that Berlin, as well as Europe more generally, plays in Myanmar’s development as well as […]

Big International Gem Show Being Held in Yangon

​​ An international exhibition of Myanmar gems with foreign and domestic companies is being held in Yangon until Monday. Firms from Thailand, Hong Kong, China, Japan, Vietnam, Germany, the United States, Italy, Israel and India are participating. The four-day event also has machines for goldsmiths and quality testing for diamonds and gems. A spokesperson for […]

Pyidaungsu Hluttaw approves 5 million euro loan from Germany for locomotive factory

Pyidaungsu Hluttaw passed the motion on borrowing 5 million euros from German KfW Development Bank for a Diesel Locomotive Shed in Ywa Htaung for Myanma Railways. Following a debate, the issue was put to a vote and passed 506 to 6. “It is required to give training to employees of Ywa Htaung locomotive shed because […]

Myanmar CMP Expected to Earn US $ 2 Billion for Garment Industry 

​​ Myanmar is expected to earn about US$ 1.855 billion from CMP (cutting, making and packaging) garment industry which includes the manufacturing of shoes, garment and bags, according to Ministry of Commerce. Export earnings from the garment industry through CMP has more than doubled since last year, according to the Ministry. “Myanmar has earned $1.4 […]

Diebold Nixdorf Ssets up an office in Yangon

​​ Diebold Nixdorf, a leading innovation partner for nearly all of the world’s top 100 financial institutions and a majority of the top 25 global retailers, today announced the opening of an office in Yangon, Myanmar, creating a direct presence in the country for the newly combined company. Diebold Nixdorf had been previously operating in […]

Myanmar manufacturing set for takeoff

With the end to economic sanctions triggering an investment boom and an abundance of low-cost labor, Myanmar’s nascent manufacturing industries look set for major growth. In the space of less than two years, Japanese clothing retailer Honeys has increased the number of production lines at its second factory in Myanmar from five to 34. The […]

Myanmar Expected to Have Earned $2 Bn From Garment Industry

​​ It is expected that Myanmar could earn about US$ 2 billion from CMP (cutting, making and packaging) garment industry, which is running under a piecework system, in 2016, according to Myanmar Garment Entrepreneurs Association. US$ 1.65 billion was earned in 2015, and over US$ 1.1 billion has been earned between April and November of […]

Australia Wants AIIB to Invest in Coal Power

​​ Australia is reportedly lobbying hard for the China-led Asian Infrastructure Investment Bank (AIIB) to invest in coal power projects in Asian countries. The newly-established development bank is currently drafting its energy strategy and the prospect that coal could be excluded from its priorities has alarmed both the Australian government and the country’s powerful coal […]