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Myanmar govt faces setbacks in enforcing compliance with EITI database

The government says it lacks the mechanisms to force companies to disclose ownership information through a public registry, which are part of recent measures to clean up corruption in the extractive industry. Myanmar’s Extractive Industries Transparency Initiative (EITI) unit, a government body under the finance ministry, held a press conference on February 28 to address […]

Myanmar takes steps to improve trade strategies

Myanmar will take measures to ensure that overseas demand for locally made goods remains elevated even as cheaper imports from the region are expected to rise now that the country will participate further in the ASEAN Free Trade Area (AFTA). This should also keep the country’s trade deficit, which was down to US$627 million in […]

Government regulations put the brakes on cattle exports

Exports of animal products have risen dramatically since the government lifted a ban on the export of live cattle and buffalo in October 2017, but new regulations have taken some of the shine off the trade. Words & photos by KYAW LIN HTOON | FRONTIER CATTLE AND buffalo exporters enjoyed a profitable year in 2018, […]

Yangon govt signs agreement with Berjaya Land for housing project

The Yangon Region government has signed a concession agreement with Malaysia-owned BDS Smart City Co Ltd to formalise a public housing and mixed-development project in Yangon, according to a stock exchange filing by Berjaya Land Bhd, the parent of BDS Smart City, on February 10. The project will be developed across 183 acres of land […]

Govt seeks parliament approval for US$131M loan

The government is seeking approval for a loan of US$131 million from South Korea that will be used to upgrade the country’s natural-gas infrastructure, a senior official says. “The financing is meant to be used for a project to build a pipeline for the Shwe offshore gas field that will connect to the Myanmar-China gas […]

Request for Bids,National Electrification Project (NEP), Funding: Italian Soft Loan ,Closing Date: 26th March,2020

Country: Myanmar Name of Project: National Electrification Project (NEP), Funding: Italian Soft Loan Contract Title: Supply, Installation and Maintenance of Solar PV Systems for Households and Public Facilities Credit No.: 5727-MM RFB Reference No.: S&I – NEP-IT1 (1 lot) 1. The Government of Myanmar has received financing from the Government of the Italian Republic toward […]

Government plans to merge state-run banks to facilitate more lending

A senior official has announced that four government-owned banks that have similar business scopes will be merged in order to help provide more loans for micro, small and medium enterprises (MSME), and farmers. Union Minister of Planning, Finance and Industry U Soe Win revealed this during a workshop on financial support MSMEs in Nay Pyi […]

Master plan for MSMEs to be released in February

The government plans to release its master plan Micro, Small and Medium Enterprise (MSME) in February 2020, said U Min Ye Paing Hein, deputy minister for the Ministry of Planning, Finance and Industry. MSMEs form more than 99 percent of the economy and the sector’s development cannot be ignored as it is crucial to the […]

Govt sets target for current fiscal year’s timber sales

The government has set a target of earning US$129 million (K192.9 billion) from the combined sales of teak and hardwood for the current fiscal year, says U Khin Mung Kyi, deputy general manager of Myanma Timber Enterprise (MTE). The target figure was due to lower income and reduced timber production in the previous fiscal year, […]

Government to support internationally recognized gold market in Yangon

U Phyo Min Thein prom­ised that the govern­ment is committed to providing support for an inter­nationally recognized gold mar­ket in Yangon. “Our government is trying to implement a gold market in line with rules and regulations,” he said at the 17th Annual Meet­ing of Myanmar Gold Entre­preneurs Association, held at Times City (Jewelry Mall) on […]